Santayana

The 13F represents a pretty small portion (~15%) of their equity portfolio.

It could be called "Hiding in Plain Sight" or something like that.

To come up with that price he has to be projecting massive destruction of value somewhere else given the interest income situation. And he actually admits that the insurance and investment legs are both doing well. It doesn't make sense.

Because dividends can be cut. Interest income would be another story.

Kind of wild to see ORLA as the biggest holding now. I think what that mostly shows is how this bucket is becoming less and less and meaningful to the overall picture.

Oh, that sweet premium growth!

We might have to wait for the call tomorrow since the fires were this year.

Added more Fairfax with earnings on Thursday. I think positive surprises are far more likely than negative.

In since 2007 thanks to Ericopoly who also introduced me to this forum back in the Yahoo days. Sold most (along with everything else) in February 2020, started rebuilding the position in late 2020 and now hold more than ever.

Saying that full amount is at risk suggests the possibility of the stock going to $0.

Thanks for sharing. Only 6 exclamation points

To the uninformed he makes it sound like they lost $300 million from operations turning a $1.3 billion investment gain into only $1 billion of net earnings.

He's drinking heavily with Brett Horn. Unless the entire short attack was just a ploy get himself a better entry point to go long!

Interesting, Schwab is no longer showing a Morningstar rating or reports for FRFHF.

Those 10% pullbacks are such gifts.