Smazz
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Posts posted by Smazz
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Smazz,
There are a couple of other threads about some insurance company's out there, once my two weeks notice is effective this Thursday, I hope to shed some light.
I'm looking forward with interest to hear you Shah.
Cheers!
+1
+2 keep us in the loop my brotha!
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Not the $/share category but Damn, WTM taking a beating less than $0.50 / Dollar on the BV
http://biz.yahoo.com/e/090227/wtm10-k.html
Is anyone else still on to this company?
I do not own any shares.
White Mountains has taken several steps to protect its capital from further deterioration, including reduced exposure to equities and property catastrophes.
Will be interesting to see what the plans are to generate alternate rev streams.
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Well,
alot of companies we've had discussions about through this medium, we are now seeing in the $1 range - companys that were trading in the double digits easily.
I'll post first:
KFS.TO For Sale by owner (not me :D) $1.67 or best offer! ;D
BTW, I do not encourage buying said company.
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October 1987, now that was panic.
Im going to have to disagree with you Sant.
For so many different reasons 1987 was no where near the panic we have today.
Im not saying valuations were or were not cheaper back then, Im just saying that Main St Panick was almost insulated from Wall St panic back then.
Look at the "market" recovery back then, we are seeing nothing like it right now.
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Does anyone remember a thread on the old forum where we all asked "how would this out of whack debt/saving ratio play itself out"?
Well,
we are finally getting the answer.
Like the old (and one of my famous ;D) ditty goes - "its not a matter of if, rather when"
edited for typo :)
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Prem got into the insurance business mainly for the float.
He has built himself and the company one hell of a float with respect to the size of the company. At some point the ship becomes too large that it is not very agile to turn when you may like.
I felt a way back that all things considered, he would prob like to dilute the insurance aspect of the Corp. I like what he is doing. It can be a tough game this insurance/underwriting/reserving.
Looking back - there were some scary times. We got out of it ok. There were many times (most the vets here would remember) we (mgt) did things we didnt want/like to do. The costs of the hedging etc etc. The once in 50 - 100 yr events that we got more than once.
Well, its great to see how we made out in the latest "event".
Now, lets go make some donuts for a while ;D
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If you can tell me what the future holds I can give you an answer ;D
But seriously, I dont think you will go wrong either way.
FFH has a much smaller float to invest - while BRK has alot of opportunities that no one else has.
Why not just split 50/50?
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My opinion is,
if Ratings agencies did their job properly, FFH and BRKs would be able to charge alot more for their services - for numerous reasons.
Like all things, its not usually a question of IF but WHEN.
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2nd paragraph of Prems opening statement should read "$1.5 Billion" as opposed to Million?
He doesnt usually come right out and make these statements:
"Consequently, our dividend and investment income is going to increase significantly in 2009 and future years."
Im taking this as mostly from the convertables.
But like I always say - if you can walk the walk.....
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I am an investor in ORH. I see this as a blow-out quarter for ORH on the investment side. Govt bonds surging into year-end, their stocks surging into year end after they simultaneously covered their equity index and other puts near the lows of Oct/Nov and bought stock.
No-brainer blow-out quarter for ORH on the investment side.
I actually own more ORH than FFH at this point.
What has or has not happened with the Bond is intriguiing to say the least.
At some point youd think Prem would have had to pull the trigger - some of the prices were/are going insane.
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"OVER - way over.
Smazz - maybe you could add a poll to this thread. "
Darn,
I didnt think of that - forgetting all the new features we have.
I dont think I can change this to a poll - would prob have to start a new thread.
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Thoughts on the numbers coming after close?
Over for me.
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Ive posted this guy before - I do not know who he is but I find him entertaining.
Its like sitting down and having a coffee with someone who is ready to jump off a bridge... lol..
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How appropriate,
A Canadian would never write something like that ;)
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Ive always stuck to the mantra that I wouldnt buy any of it if I didnt feel comfortable owning all of it.
Thats prob why my portfolio is so very very concentrated.
The only time I will deviate from this is for a timing issue. I.e. If I know there is going to be volitility and I will need some liquidity I make adjustments.
IMO, it should be more a timing issue rather than a quality/size issue.
Rules 1 and 2 should always be answered before going forward.
These guidelines (for me anyway) have rewarded me handsomely.
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so perhaps a killing in underwriting AND investments in the days ahead?
Proper ratings (dont know if this ever going to happen) where the number of legit undewriters (with excellent ratings) gets narrowed?
In a perfect world: Exit profitable bonds - enter convertables and other at high yield.
This latest stimulus goes through the equities start to jump.
The gift that keeps on giving.
I believe we are still living in interesting times.
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this should be an interersting thread.
thanks Oldye.
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I agree with Ben.
You have been most likely quoted a fluctuating margin rate perhaps even with a teaser rate for the first XXX months.
Read the fine print, and remember if you do this with any kind of fixed income - you will get the double whammy. When rates starts to rise - so will your payments inversely to your capital. BAM! MArgin call - good night Irene.
sorry, Im a bit of joker too. ;D
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ok people - your worst fears have been realized:
SMAZZ IS HERE! ;D
FFH BuyBacks
in Fairfax Financial
Posted
depends on their course issuer bid, what the date is and if it is used up.