Dazel

I am salivating at backing up the truck on this lower. Hamblin Watsa are probably putting restraints on Prem to keep him from hedging/shorting this stupid market. He is buying shares back instead that’s what you do at Fairfax 3.0

https://thecanadianencyclopedia.ca/en/article/merrill-lynch-buys-midland-walwyn Alex founded Mackenzie Financial in 1967. He was known “as a legendary stock picker of Bay Street”. My NDA has likley ended but I will respect the Christ family’s privacy that they took great lengths to protect. The piece I showed above just took me down memory lane. Alex has been gone since 2022. I asked him how did you out fox Prem Watsa in the Midland-Walwyn deal (Fairfax and Prem Watsa lost money selling their stake and Mackenzie killed it). He simply said “Prem did not have the capital I did at that time”. He shared laughter at trying to raise money in the 1970’s and high Praise for Prem coming into the financial industry when it was very difficult. Maybe his greatest asset was he was always laughing and one of the funniest people I have ever met. Prem might be the only one left that would remember him on Bay Street.

Rest in peace “Alexander Christ” you were a wonderful man.

Sanjeev, I have been Too busy buying and moving and shaking to write more! A little time this morning because markets are closed! Took time yesterday to go through some old files…realizing that the majority of my mentors, market mavens and value investors I follow or knew are dead or nearly there! Wild how fast time goes Sanjeev…just wild. I would take a moment to thank you again for creating this wonderful board. You are good man! Cheers, Dazel.

Fairfax 3.0 holds better than other stocks prices in corrections. Check

Fairfax 3.0=blow out record earnings and steady compounding

Another opportunity. Insurance companies are selling off on interest rates bets…. Fairfax shareholders taking profits after a tremendous run.

Fairfax 3.0 is smooth sailing!

There is not much to worry about in Fairfax 3.0 hope everyone bought the dip!

Buffett could not buy Microsoft because of Bill Gates. The stock did not move a dollar for 12 years before Gates. (The other bubble) Google was missed and Charlie talked about it yes. Buffett missed Fairfax….when us old timers bought here. I got shares at $67 cdn…in 2003? it was $2500 a week ago. he knew Prem and knows the business better than anyone!

YesMan, well if you want me to be greedy 20 years….thats about a 9% return since May! I would imagine Prem has been selling common stocks in the quarter and realizing gains. Insurance companies were pretty dear would not be surprised to see more sales of unconsolidated insurance companies.

The interest rate drop has had investors recalculating interest income in insurance companies. I see this reason for the slow performance as of late…this was what I expected. Did Bradstreet lengthen duration? I hope so.

Boringly awesome! Fairfax 3.0

These results are what we should expect during Fairfax 3.0. Solid as can be.