Santayana

I visited my daughter at her new apartment in Seattle this week. When I got to the main entrance, I saw a little Kennedy Wilson plaque! it was a great building in a great location, right in the heart of the Amazon campus. Seems like real estate to be happy owning.

I grew up in the 70s, and it's weird to hear the "left" screaming about the domino effect. If we really believe Ukraine needs to be defended at all costs, then accept that we're looking at another Vietnam.

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.

Gloria was $900M in 1985. I wonder what that would be now.

I don't think they're in a position to take LVMH private. I understand your point, but you can't compare the situation of having full control of a company to what's available by just buying stock.

That's multiple years of earnings for CrowdStrike, will be interesting to see who ends up paying.

Meanwhile Fairfax is at a new high. Will we see the usual Q3 pullback as the season really gets underway?

I know this is the earliest, but there have been other years where early storms have gotten people concerned about a bad season that never manifested. But just the worry of a bad season could lead to some better buying opportunities for Fairfax.

I've been trimming my very overweight Fairfax position a bit as we head into Q3. Seems like there's already been a couple of events that could lead to this being a larger Cat year.

That is not true. You can trade long puts/calls, sell covered calls, and sell cash secured puts without having a margin account.

Added to JOE and NTDOY.