Parsad

Bing, bong, bing, bing, bong...you're a little piggy...I've ended 8 wars...they're eating the dogs! Cheers!

He was the Governor of the Bank of Canada...not a whole lot you can do if your boss is hard left Liberal. Even as an advisor to Trudeau, do you think Trudeau listened to him on a lot of things? Remember Trudeau had the sense to wear blackface at a couple of Halloween parties as a nearly 40 year old teacher! And in England as the Governor of the Bank of England, again, he wasn't making the decisions other than on fiscal/monetary policy. During his own term, so far he's been making centrist decisions...smart decisions...acting with decorum in the face of huge adversity with their bully neighbor and biggest trading partner...while still protecting broad progressive ideals that have been completely negated and destroyed in the U.S. There's a reason why our banks didn't fail during the GFC! Cheers!

LOL! Cheers!

He had a terrific speech in Davos today. Bluntly told the audience that the old world order is over! That the world should not be nostalgic for it, but strategize on how they will partner and build in the new world. That a handful of powerful states will control much of the power going forward and smaller states have to decide if the will cater to them to ingratiate themselves or work together to make a better world. Not sure Trump could even string together such a speech! Bing, bong, bing, bing, bong! Cheers!

You don't even have to go that far...his best fucking friends are Putin, Kim Jong Un and Epstein! Quite the list...I'm sure Obama is jealous! Cheers!

+1! Cheers!

What makes you think he's a lame duck President? Everything he's done so far has pushed the boundaries of the Constitution, freedom of speech and due process. He's pardoned almost every single criminal who was charged on January 6th and fulfilled his "Revenge Tour" against the media, government agencies, prosecutors, etc. There are threats to kill the mid-terms. Why are you so convinced your hero isn't going to stay in power or put in a puppet regime to do his bidding? Cheers!

Yeah, I think that would be what would have to happen...it happened during the GFC as well. FFH can hold the short-term stuff until maturity as Prem has often said. It's the $14B in longer dated stuff that I wonder about...about half that are the mortgage bonds through KW...the other half is a mix of longer-dated US bonds and corporate bonds. Cheers!

I think that's excessive...and a bit naive. I remember just before 2008, I spoke to Sardar and Cooley in Omaha about the risk of money market funds possibly breaking the dollar barrier in a crisis...they both disagreed with me. Sardar pulled some numbers out of his head and said that it wasn't possible...Cooley like a proud father agreed and supported Sardar's numbers. Well guess what? The next year money market funds were returning less than a dollar for every dollar invested! The likelihood of outlier events happening is remote...but they do happen. Discussing them isn't panic, nor is it a group of unsophisticated investors prognosticating or relying on Facebook posts. Cheers!

Much of their assets are in USD and their businesses are global in various currencies...so I think that may be less of a risk than anything that affects the US. Cheers!

They are smarter than most...certainly me! But outlier events are exactly that...unexpected. Their short position worked against them a decade ago...even the best can be wrong some times. Not saying they are...just saying what could be the repercussions of their bond portfolio as structured? Cheers!

You don't have to lose it...just the world doubting it will have repercussions! Cheers!

Gold, Pound, Euro...they don't have to sell all of the USD treasuries...just a significant amount and that will move rates, since the US has to issue a ton of debt every year. Just a couple of percent...and we saw more than that in the last few years...could have a serious impact on the US and global economy. Cheers!

Hopefully they did. Brian's pretty damn good about these things! Cheers!

The FIFA Peace Prize is certainly available to the highest bidder! Cheers!

I'm sure Brian has thought about it already, but if much of the globe decides to sell US treasuries as a retaliatory tactic to tariffs and aggression, what could be the risks to FFH's large USD bond position? My thinking is that they would move more cash and other bonds to USD treasuries as rates rise, offsetting the losses on existing USD bonds. Would increase the average yield...average out the risk...and they could hold them until maturity to offset any potential paper losses. Cheers!

Is Immigration fixed? Doesn't look like it. Just completely shut down. US taxes fixed? Phhhhhtttt! Israel fixed? Or do you mean Gaza destroyed. Wokeness isn't gone...stupid word to begin with. Progressive attitudes have only become more acceptable under Trump's alienation of more than half the country and 80% of the world! Meritocracy has always existed in the U.S. You just didn't like the fact that there was some rebalancing of generational inequities. Did the pendulum swing too far...probably...but it was the right thing to do at the time. Just like enforcing civil rights...which don't seem to exist in the U.S. today. The military was never at risk in the U.S. It's always been one of the main engines and remains one of the main engines. You just have the least qualified people running it now and the lack of discipline is creating a chaotic world. Keep up the good work! Cheers!

That's part of it, but there is a general turndown in how much consumers are eating out...even after including delivery and takeout. Those with money are eating out as usual...me and my family included...the deals and Happy Hours are abundant because restaurants are struggling. Those stretched are making big changes in how they are eating out. How long and how deep is the question. 7,000 restaurants closed in Canada last year...another 4,000 are expected to close this year! Cheers!

Other than the border, your idea of getting things done clearly differs with reality! Cheers!

Obama wouldn't even hesitate to turn down someone else's Nobel Prize simply to ingratiate himself/herself to him. Cheat at golf, cheat at life...that's Trump's motto! Cheers!

That Olive Garden in Langley is still always busy...slower than in the past with the general malaise of consumers eating out...but it remains quite busy and I don't think it will close...unlike other restaurants. Also the deal with Richard Jaffrey and his brand, might open the door to Fairfax acquiring the Fuller Family's chain of restaurants one day (Cactus Club, Earls, Joeys, Birdies). Probably the best run restaurant chain in all of Canada for the last 40 years...on par or better run than The Keg! These are the restaurants my family and I have been going to for the last 30+ years...we hardly ever go to Olive Garden...never to Swiss Chalet! NY Fries at the mall is usually a quick stop for poutine...I think they could grow that brand even more across Canada. Cheers!

Pretty sure Powell won't be lowering rates if there is a big sale of USD treasuries! If these economies use the bazooka, it could create a spike in interest rates, a deep recession, stock market correction and probably significant continued weakness in real estate. But hey, Trump always wins...even if the business goes bankrupt! Cheers!

You're giving advice to China! They just had the largest trade surplus in history...even with Trump's tariffs. Everyone is racing to do deals with China because of Trump's bullying tactics and threats. Their economy grew at over 5% last year...in spite of Trump's disregard for trade deals with them. Yeah, you keep giving China advice and ignore the shitstorm Trump has unleashed on the U.S.! Cheers!

Don't you mean Trump MLK Day? He's done more for black people than anyone in history! Cheers!

+1! Cheers!