Parsad

Peaked at nearly 4 times book value! Crazy! Fairfax had done really well for a bunch of years and then combined with market irrational exuberance, there was a very speculative interest in Fairfax. I know some people who bought then...they weren't particularly happy for a decade, but they were smart enough to keep averaging in as the price fell. That kept them ahead of the game over time and today are wealthy. But it would have only worked if you averaged in over time. A one time purchase would have been a very bad one! Cheers!

Cubs, how much is the U.S. funding Ukraine now? Cheers!

73Reds, how much is the U.S. currently spending now defending Ukraine? Cheers!

Keystone Kash...damn his girlfriend is hot! Cheers! https://ca.news.yahoo.com/keystone-kash-explodes-swat-team-150614698.html

Just one of the dramatic policy changes coming with Carney: https://ca.news.yahoo.com/carney-declares-end-canadas-feminist-175316793.html He's much more of a centrist, rather than the far more left-leaning Trudeau. Cheers!

So why is the U.S. backstopping Israel? The Middle East didn't come in and say, "Thank you for your help, Donald. We'll take it from here and back Israel in its fight"? The U.S. has no problem writing a blank check for Israel with no direct economic gain from Israel...so why is Ukraine thrown to the wolves? Cheers!

Yes, correct. Some people are assuming that Fairfax's long-term p/b should be around 2...I'm just saying that at that price, there might be some irrational exuberance. I think fair value is around 1.3-1.5...if you can buy at a discount to that range, you will do well over time. Cheers!

You can pay what you want for Fairfax, but when it hit its peak in 1998, any shareholders who had bought then didn't see break even again until 2014...that's 16 years with no gain unless you were averaging in over 16 years. Margin of safety serves a real purpose...it avoids irrational exuberance! Cheers!

I said from the beginning that the only way this ends is with Putin getting what he wants...here we are, years later, and that is exactly what is happening. Why didn't Trump pull this card when he was busy berating Zelenskyy for his apparel? Putin will get 90% of what he wants and Trump will get economic benefits, both personally and for the U.S., at the expense of Ukrainian people. Cheers!

That stats you keep putting up are somewhat irrelevant...what is the motive behind this? If U.S. growth is going to be greater than Canada's, then isn't it wiser that Canada invest more in the United States. It's why more assets in Canadian pension/retirement funds are invested in U.S. and global assets than solely in Canada. Cheers!

That only destroys the Canadian oil markets competitiveness when the price per barrel of oil is at or below production cost. Otherwise it has negligible effect because the demand is there when prices are high. The carbon taxes aren't the sole problem...the Canadian oil industry needs to continue to get their production cost lower. If the car we build in Canada does tremendous damage to the environment, so environmental taxes on that car make it less competitive against cars built in the U.S. where the environmental impact isn't as bad, then should Canada really be producing cars? Industry cannot escape non-tangible costs...there is a real cost long-term. The reason the oil sands have any value today, is because the producers were able to drive the cost of production down over the last 30 years. In particular in the last 10 years, they've driven the cost down from almost $80 a barrel to less than $50. Cheers!

John, Vancouver Island is one of the most spectacular habitats in the entire world. If most of my family wasn't on the mainland in Vancouver, I would easily live on Vancouver Island. Absolutely beautiful and lovely...every day is heaven there! Victoria used to be one of the few places where palm trees could survive the winters. With global warming, a good part of Vancouver and Victoria can now have palm trees. And yes, there are parts even where you can grow olive trees like Osoyoos which is close to Kelowna. Cheers!

Carney has a green mindset, but he knows that to get there, you have to sell a lot of carbon-based resources to fund those goals. It's why he approved the new LNG platform and is willing to build pipelines from Alberta to both coasts. The more they generate from the sale of oil and LNG, the more money that can go to fund green energy long-term. Your talking about stock market price in Canada...I'm talking about the economy...two different things! If increased global trade and investment in the country increases GDP and company earnings, as the economy does better and better, the market will rise over time. Related...but two different things. Cheers!

+1! Cheers!

Probably correct! https://www.cnn.com/2025/11/23/politics/us-senators-rounds-rubio-ukraine-peace-plan How long before Little Marco is tossed? Could be sooner than any of us thought! Cheers!

Your suggestion that this was a bluff by Trump to get Europe involved is ridiculous! Cheers!

Yeah, sure...that's one way to look at it. My take is guy builds a dike that keeps floodwater out of his neighbor's yards. The dike is failing and he asks for help from his neighbors and they offer what they can, but they aren't so rich and don't have all of the equipment to repair the dike or hold it in place. So his friend from across the ocean sends in a ton of equipment and support to fix the dike...but the friend dies. The friend's son doesn't want to help and is ok if floodwaters come in...not his yard, who gives a shit...his Dad was his friend, not him! In fact, his buddy is another neighbor who would benefit from floodwater hitting the other neighbors, and in particular the guy who built the dike. So he makes a deal...I will help you, but me and my buddy get your house and land fifty-fifty. Take it or leave it! Cheers!

+1! Cheers!

It may be true for Fairfax going forward because of their quality of underwriting and change in how they allocate investments now, but wasn't accurate in the past when they were buying poor insurance companies to turn around and making large macro bets. So you can either be optimistic about the future or continue to use a margin of safety and safeguard your capital when you allocate it. I prefer the latter. By the way, I learned that directly from Prem! Cheers!

Ever thought about going back as a mature/older student? Although you seem to be a busy guy (hobbies) and aren't readily bored. Cheers!

No we see them too...especially in Vancouver and Toronto where there are major gangs. But the guns come from the U.S. and we generally don't have as many. Other than standard rifles, we have pretty strict restrictions on most guns and what you can do with them. Cheers!

No effing way...read your diploma...must have been a Business degree! If it was an English degree, 100% it was from Trump University! Cheers!

I predict like every prediction, this will not be entirely correct and long-term will be off by a lot. Similar to the "Is Europe Becoming Uninvestable" thread! Canada is heavily a resource-based economy...revenues from resources trickle into investments and into everything else. How Canada's resource trade goes, that's how Canada goes. The last 10 years have been one of restricting and regulating how Canada benefited from its resources. That is clearly changing and the next 10 years will not be the same! Cheers!

Glad you are safe...but the question continually arises...why does this happen so much more in the U.S. then other parts of the world? There are retards everywhere...they just aren't readily armed. I love watching English cop shows compared to U.S. cop shows. The Bobbies chase down crooks and neither one has a gun...the Bobbie pulls out an expandable baton to take down the suspect. On the U.S. show everyone is armed, even the bodega owner, and there are bullets flying everywhere. The difference is stark! Cheers!

Also, you can't talk about others not passing it, if you didn't pass it! Cheers!