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.

I tried to buy the bottom yesterday and my bid got screwed by the fake news rally! Expect a sharp rebound in the share price back to records at Fairfax 3.0!

This market is the best thing that can happen to Fairfax. They are big fans of Jeremy Gratham and in other crash’s they would have been very short. They vowed not to short individual companies after great set backs several years ago. But their portfolio is very defensive because of the over valuation in the U.S market. Their bonds are cash equivalents and they dwarf Berkshire’s cash pile. The worst it gets the better Fairfax position is. They buy when there is blood in the streets and the profits from these buys will take us to $5000 a share in the coming years. love Fairfax 3.0!

Remember in Fairfax 3.0 they are the predator….i know the stock price has come down in a semi market crash. Think about they opportunity they will hav to deploy capital if this continues. That’s why we are here for this opportunity it’s how they make a killing. Credit spreads widening, corporate bond and equity opportunities that just were not there a month ago.

And here we are!

Fairfax 3.0=strength back to alltime highs we go.

Berkshire is at all time highs despite holding $320b cash and having their public investment portfolio being hit and having their leader turning 95 in August. Why? Because they are a company built to last and safe port in troubled waters and a high flying ship when the sea’s are calm. Fairfax 3.0 will also move significantly higher from here because Shareholders feel different holding powerhouse companies shares. Once again it is the point of this thread. The comfort that comes from owning the best.

quarterly is good enough for me I am confident they are buying as many as they can. If Prem would sell Fairfax to Berkshire Buffett would buy it….likely his number one pick for a take over. That’s all you really have to know…Prem is doing the same thing by buying back Fairfax stock. As shareholders we own a bigger piece of the company daily. The lower the price the better for the long termers.

https://finance.yahoo.com/m/bafc242a-5c86-34b4-b30f-b72546c25c40/berkshire’s-stock-buyback.html There is no one better than Warren Buffett and when he is not buying his stock back you know why. It’s not cheap. Prem has a cheap stock price and he and his team will buy every share back that they can. price matters.

Here is a famous resource value investor who uses Warren Buffett as a mentor. Guess what he says to buy? Fairfax! Rick is maybe the most intelligent Speaker on investing that I have come across he is always worth a listen. His scope is banks, Fairfax to mining across the globe. He put Altius minerals in business at Pennie’s…taking a shot on a very young Brian Dalton (Fairfax owns 14%).

Quick sidebar…There are not any value managers left from this U.S bull market. Both age and market mechanics have depleted all but a few. Quick story for you younger folk…Fairfax successfully shorted the dot com era (we are still in a tech bubble) and Sir John Templeton (Prem’s mentor) killed it shorting it. Brian Bradstreet hit it out of the park going long bonds during the era. But a forgotten “super investor” Richard Rainwater did better than everyone after riding out the dot com era in oil. If you would like to learn study Rainwater. The best deal maker of all time? He sold a piece of swamp land to Disney for 10% of Disney and then hired CEO Michael Eisner and turned the company around. https://money.cnn.com/magazines/fortune/fortune_archive/2001/06/11/304646/index.htm Prem and his team have proven that in private deals they would rival him the market just does not realize what they built. A top 20 global insurance company from scratch…Rainwater would be proud!