Parsad

Thought the ending in Crystal Skull was way over the top. My favorite of the four is by far The Last Crusade with Sean Connery in it. Could watch that movie over and over! Cheers!

Now that markets have rebounded their way out of the Bear Market of 2022, what are your recession expectations for 2023? Personally, with the way the yield curve is inverted so steeply, I suspect we are in for a deep recession in 2023. I'm still going to be buying stuff when it's cheap and selling when it's closer to intrinsic value, but the recession that was expected for 2022 will be coming in 2023. Cheers!

Totally agree with you. I don't like crowds either...except at the COBF! Cheers!

I didn't ban you because you said anything about Cuomo...you were just being an ass! And often! Cheers!

I didn't just buy Fairfax common...I had bought Overstock at $2.99, BH at $49, M at $4.99...so I was up about 250% with no leverage. Then I went to 60% cash in November 2021 and started buying again in March, June and September. My point was that it's neither here nor there. You've been right and wrong about stuff as much as anyone else. So maybe the crowing should be kept to a minimum. Cheers!

Yeah, I called it then when I started this thread and I would say the rebound runs through into January or so. So we can close this thread. The naysayers are going to say it's a fool's rebound and the yeasayers are going to say we're going to the moon! Never in the middle. As the rebound continues, I'm going to start building some cash again for the next crisis or opportunity! Cheers!

Agree! Oil at $200 would stifle the global economy into a massive recession. It's like Jeff Rubin 15 years ago touting $200 per barrel oil back then. Never happened! Cheers!

Kuppy has been wrong about stuff as much as he's been right...just like all of us. Cheers!

Wait a minute! When I was 60% cash after November of 2021, you were the one pushing back that cash was for morons. When I was talking about Fairfax being dirt cheap even earlier, you were saying that it was fool's gold. So, everyone makes assumptions and we are all wrong from time to time. Cheers!

Also, I'm actually less worried about the underworld criminal players trying to prop up crypto or other assets. It's the large sovereign wealth funds, state pension plans, state-owned financial institutions around the world that have the capital to manipulate markets. We've seen it with such simple things as regulated banks manipulating transaction fees or foreign exchange fees on a global basis. It is very feasible that large funds are manipulating crypto markets, just like they've influenced other asset classes at times. Cheers!

All of the assets you mention can be confiscated by law enforcement. Recently, BC is enacting new laws so as to be able to confiscate assets from people and organizations that can't prove where the wealth came from...believe it or not, the new Premier is extremely left wing, but is enacting some pretty centrist or right wing policies! Yet, it is extremely difficult still to confiscate crypto currency from criminal players. Yes, they can trace some assets that they were having a hard time tracing in the past, but it certainly is harder to get your hands on those crypto assets compared to diamonds, gold, real estate, stocks, watches, etc. Cheers!

It's also the investment vehicle or key holding for many long-term employees, shareholder friends of the Watsa's, extended family of the Watsa's, the current President Peter Clarke, long-time shareholder and fund manager Francis Chou, and yours truly! I know all of the Watsa family and I could not hope for better partners. It's why this site is called Corner of Berkshire & Fairfax and not Corner of Berkshire & Markel or Corner of Berkshire & Brookfield! They may not always do exactly what you might want them to do, but they do try damn hard and listen to their shareholders. Cheers!

TwoCities, while law enforcement is making some progress in tackling illegal crypto transactions, there are still multiple ways that transactions can remain private: https://oneart.digital/en/blog/blockchain-privacy-is-it-all-so-anonymous Also, you do realize that criminal organizations can create their own underground networks using blockchain, that law enforcement probably neither knows about, nor would be able to crack and link transactions to specific individuals or organizations. The lack of regulation on a global basis still makes crypto a refuge for those that want to partake in illegal activities that are non-traceable. Cheers!

Also, if investors are still risk averse when it comes to equities, the credit markets are offering up some good opportunities. Even Howard Marks is finding good investments in the credit markets right now: https://ca.finance.yahoo.com/news/billionaire-investor-howard-marks-touts-142841516.html Cheers!

This is insane! To analyze and hypothesize about all of this is exhausting and has no bearing on when to invest and when not to invest. You buy things when they are cheap...some things got awful cheap in March 2020, and then again in March 2022 and September 2022. And then you sell when those investments begin to approach intrinsic value. Otherwise, you sit on cash or instruments that will generate some income while taking a benign approach to market volatility. You don't try and analyze what the FED and everyone else is going to do, because that's a fool's game. And often, the trigger that causes the large scale correction isn't what you expected, or at the very least fully expected. When I bought Fairfax, no one wanted to touch it. Even Greg was calling it fool's gold! Now, when it is sitting near all-time highs, everyone thinks that FFH's earnings are going to go through the roof and want to buy it. Same thing with out of favor tech stocks. No one wanted to touch them this year...yet a year or two years down the road, investors will be clamoring for them again. This is the life of the value investor. Buy when no one wants it and then sell it when everyone is screaming for it again. Everything else is just noise! Cheers!

I've met Frank Abagnale at a conference he was speaking at. Shortly after the movie "Catch Me If You Can" came out about his life. Cheers!

Anything so that they aren't sitting in prison doing nothing. I don't want to see prisoners working in a quarry like the old days, but the lesser offenders (drug possession, white collar, DUI, etc) should be doing some work, as well as any rehabilitation programs recommended. Cheers!

There was a child serial killer here in Vancouver when I was like 9 years old named Clifford Olson...you would definitely have heard of him drzola. Killed 11 children, and would only say where the bodies were when he was paid a cash award. He was the worst fiend imaginable. I would not only have no qualms seeing him receive the death penalty, I would have gladly pushed the injection button. Instead he lived out his life in prison taunting the victim's parents and the police. Cheers!

Crypto market is only a fraction of the equity, bond, commodity and real estate markets. Are large institutional crypto holders keeping the crypto market afloat? It would be relatively easy based on daily trading volumes for a handful of whales to keep some crypto prices up. I suspect some of BTC's so-called stability in a time of crypto crisis may be due to large players buying up BTC on volatile days. These players would have to write down much of their crypto investments if prices fell, thus they keep supporting some coins in a bid to thwart any write-downs. There must be some huge players out there that we don't know of...far bigger than can be identified, since identification of crypto owners is near impossible! I'm talking certain sovereign funds, state-owned financial institutions, large hedge funds, black market players, etc. Cheers!

Happy American Thanksgiving! Cheers!

Actually was there ever any doubt? Maybe Binance too! Cheers!

He probably shouldn't have. But I can certainly see why some would rather see Holmes pay back some of what is owed to victims and taxpayers. You might be surprised, but personally, I'm for the death penalty in 1st degree premeditated murder cases, serial killer cases, serial rapist cases, etc where the guilt has been proven without a doubt. For white collar criminals...throw the book at them...but make them also work somehow and provide restitution to victims and taxpayers. Make her do lab work or something in prison if she isn't going to work outside of prison. Guys like Sam Antar when he was in prison or Bernie Madoff when he was alive...make them work on tax returns or something for the poor 16 hours a day in prison. I don't care what...but make them work and do something instead of just living off the taxpayer. Cheers!

Restorative justice. She isn't any sort of threat, and if she is truly remorseful after her time in prison, she may be more valuable to society working outside/paying taxes than sitting in a prison cell getting fed three times a day doing nothing at taxpayer's expense. It would also allow her to pay victims through any civil litigation. She doesn't have to pay anything if she rots in jail. This message board is full of investors who constantly scrutinize everything based on rational action, yet this is so hard to rationalize. Cheers!

Cathie Woods was also probably the best performing fund manager during this period. Doesn't mean she didn't make a mess of ARKK. Forest for the trees! Cheers!

Well I'm pretty sure Saudi Arabia will find ways to increase output now and the price of oil should drop further: https://www.cnn.com/2022/11/17/politics/saudi-crown-prince-immunity-state-department-jamal-khashoggi Cheers!