Santayana

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.

Is this your way of answering the how old are you thread? I got to see him play a couple of times in his later NASL days.

Back around 2004-2007 I had two jobs, one was salary and one was hourly. The salary position was a customer facing one where when the customers weren't there, often there really wasn't much to do. The hourly job was consulting for a financial institution providing tier 3 ops support for their data systems (handling problems with things like Bloomberg Data License, Barra, MSCI, etc.). Both employers knew my time was being split but didn't care.

Right, but arguing whether the inflation exists, or whether it's inherently bad are two different things. Maybe no one is *entitled* to eat out, but if they're used to doing it and it's effectively taken away from them, they're going to be disgruntled about it and be looking for someone to blame.

I completely agree, but it *is* inflationary. Plenty of middle class people who used to enjoy a weekly dinner out at a restaurant are being priced out of that small luxury.