Ice77

The company is BIDV Insurance Corporation (BIC) in Vietnam.Just FYI, to access these shares, one needs either a prime broker or an account with a local broker. IB etc do not provide access to Vietnam. https://www.fairfax.ca/about-fairfax/ (#27 in the Fairfax map)

There is a listed non-life insurer in which Fairfax holds a non-majority but still significant stake. It trades at 7× P/E, has an ROE in the high teens, and has consistently maintained a combined ratio in the low to mid-90s. It operates in a market where GDP growth is averaging 8%, and where consumers are just hitting the S-curve, as indicated by GDP per capita. The float is limited, so it is not easy to accumulate shares. However, for those with patience, it presents a compelling opportunity. They had a small banner at one of the booths at the recent Fairfax AGM, but I doubt many people here have even heard of it.

It is Texas Pacific Land (TPL) https://irp.cdn-website.com/cfd0d660/files/uploaded/SMP Q3 2022 LETTER TO PARTNERS.pdf

It is truly insane that WEB still owns the stock that he bought when he was 13 years old.

I found Buffett's remarks awkward to say the least - How little he said and what all he omitted. Warren E. Buffett, Berkshire’s Chairman, added: “Todd A. Combs, CEO of GEICO since 2020, has resigned to accept an interesting and important job at JPMorgan, which they describe in a press release that will be available very soon on their website. Todd made many great hires at GEICO and broadened its horizons. JPMorgan, as usually is the case, has made a good decision.”