DooDiligence

Apple Watch 3

Yes & as stated in the letter the p fee will be paid in sub voting shares of the company unless PB is over 2.0, in which event Fairfax may elect to take cash. Also, CEO, CFO & corp secretary compensation will be borne by Faifax. Someone smarter than me (or more motivated) should try & figure out if the performance fees cover comp costs for Fairfax. Prob should own both but I don't really understand what Fairfax is/does/will be (will read thru the threads today...)

What are the "performance fees"? If it's a publicly traded stock can it have performance fees? Is it not set up like FFH where management has equity and is payed a salary for the day to day work? Thanks, This is not a stock, it's a group of stocks (basically a hedge fund without the huge buy in...) http://www.uglymule.com/images/performance-fees.png

I guess the property is contiguous with the airport. I'd already read the letter but missed that part. Yeah, the letter is spellbinding but I'm anchored to what I paid already & refuse to buy more here...

I've searched & can't find the exact location of the extra acreage (can you point me 2 it?) I Google mapped around & found a lot of high tech industrial going on in the area. FFXDF is at the mercy of its underlying & the markets willingness to price above NAV. I don't see any urgency to add but might if it were back around a 10% premium.

This is a leap of faith based on Prem Watsa's wonderful storytelling. The fact that the region has such great demographics makes it believable. I particularly like Bengaluru. I don't so much care for the performance fees. Wish I'd gotten more at a price close to what OMERS paid but it just keeps going up...

Agreed, look at how much SLB & CLB & others paid for stepped up buybacks between 2013 & 2015 (shoulda saved the $ 4 now...)

This is the gist of it. You'd also need to know more info about the company (HQ location, # registered shareholders, ect) and even then it would still be case-by-case. Generally, if a company is incorporated in one of the 24 adherents to the Model Business Corporation Act, you will probably be treated fairly. If they are in Delaware or Nevada, stick with larger companies. Otherwise, it's case-by-case (CA and NY tend to be friendlier, but it depends on what is important to you). Here's the best overview I could find for your situation: http://www.professorbainbridge.com/professorbainbridgecom/2016/04/should-close-corporations-have-a-duty-to-disclose-financial-information-to-their-shareholders.html Basically, your company is probably being nice to you, given their rights. They could certainly ignore your request altogether if you are not registered on the shareholder roll. I should add, you also need to be willing to defend whatever rights you may have. The *most* friendly state is Alabama. I've come to learn that they are required to respond to ANY shareholder request for information within 10 days. If they don't they owe you 10% of the value of your holding as a payment for not responding in a timely manner. Should be some kind of weird arb in this huh? :o

Maybe one of these uber bulls https://www.stockhouse.com/companies/bullboard?symbol=ffxdf

Dynamic Positioning systems installed onboard offshore vessels & the operators (DPO's) who run them, are subjected to rigorous testing & periodic trials (getting a DPO unlimited is crazy difficult now.) These vessels operate in an environment with significantly less traffic than interstate travel (driving much larger vehicles at lower speeds with a f*kton more inertia, similar to the lorry-train described.) I don't see regulators allowing un-manned behemoths on interstates any time soon. The last mile scenario sounds more likely with small tows driven on specified routes. As the standards of certification, testing & practices get ironed out, longer tows & more routes would get approved. Someone has to make up the tows & the ability to do this autonomously would be an incremental money saver. Here's the worldwide standards & certification org for shipboard DPO's & systems http://www.nautinst.org/en/dynamic-positioning/index.cfm --- edit --- Just found this https://www.computerworld.com/article/3134879/car-tech/self-driving-18-wheeler-delivers-the-first-shipment-beer.html - I don't know how good this report is but http://ieeexplore.ieee.org/document/5723343/?reload=true - Great article on truck platooning (I guess small tows on both long & short routes could work.) http://www.truckinginfo.com/channel/fuel-smarts/article/story/2016/04/platooning-is-on-the-way.aspx Quote - The “most challenging aspect,” of DATP, according to the report, comes down to who to platoon with. Most fleets would prefer platooning with their own trucks, while owner-operators would prefer platooning with other owner-operators, with only 7% of surveyed owner-operators willing to platoon with large fleets and 5% of large fleets willing to platoon with owner-operators. - end quote. Seems like there'd need to be a full understanding of existing trucking companies since there's likely be some consolidations. Also, how would 3PL operators like C.H. Robinson fit in? http://www.inboundlogistics.com/cms/article/readers-choice-top-10-3pl-excellence-awards-2016/ (basically just a list of operators to start with.)

Coastal living's great, until it ain't (best of luck to u Texans...)

Indian e-commerce hmmm... Are you intimating that this might be another Fairfax India investment some time in the future?

ESNT is an interesting name. Founded at ground zero of the financial crisis. I just started reading up on them after your post but haven't made it to the "investments" section yet (other things at the plate & on deck.) Can you give a quick & dirty on what they're comprised of (R investments all in mortgages?) & who manages them (the CEO?) I'm a tiny bit skeptical (just watched Big Short last night, so it's funny that this popped up today on COBF) but am even more curious...

I love you too, Cardboard. Some people have to make do with cardboard

Brilliant. And for those who aren't aware. You can "ignore" the new politics board under "profile". Done!

Karma

on a more serious note... id-market-place-of-change-automobile-insurance-in-the-era-of-autonomous-vehicles.pdf

https://www.forbes.com/sites/patricklin/2016/04/25/self-driving-cars-wont-kill-insurance-industry/ *** Quote from article *** Imagine that you step into a self-driving car of the future. The car’s heads-up monitor issues an alert: “I sense that you’ve been drinking. I probably don’t need your driving assistance, but there’s always a slim chance I may, in the event of an unexpected emergency. If you want to operate this vehicle under the influence of alcohol, your insurance rate for the next 12 hours, or until you arrive at your destination, will increase to $2 per hour. Press here to accept this increase in your insurance.” You might get a similar alert if you’re driving late on a weekend when other drivers may be drunk, or in heavy traffic, or at high speeds, or if you’re parked in a neighborhood known for break-ins, or at any other time that increases risk. Thus, one alternative business model in insurance could be to charge for these micro-risks, and even with micro-payments of pennies per hour (or smaller increments of time) or per mile. Of course, this scenario would be a privacy nightmare. And, as insurers get closer to a state of perfect information, it may force a question about the ethics of their business: is it problematic to offer insurance bets when the outcome is known? *** End quote *** Why not, casinos do this every day? (albeit, with minimal liability re: bodily injury.) --- As an aside, people will want to be entertained while riding. Game developers could work micro-premiums into your fare? A rider could actually choose to go into an area known for robbery & vandalism & place bets on their ability to navigate thru with minimal damage. --- Just throwing crap against a wall here. --- *** Quote from article *** To help insurers and policymakers better understand capabilities and risk, we might need to consider inventive proposals, such as creating new positions in government and even a new agency to concentrate technical expertise... *** End of quote *** (inventive proposals? uhhh, you lost me there buddy)

Amazon daily Kindle deal $1.99 Seems like it might be an appropriate read for anyone interested in FFXDF & India in general. I know it's fiction but it's done by a guy who wrote for FT & Time & he appears to have bonafides. https://en.wikipedia.org/wiki/Aravind_Adiga "At a time when India is going through great changes and with China likely to inherit the world from the West, it is important that writers like me try to highlight the brutal injustices of [indian] society. That's what I'm trying to do – it is not an attack on the country, it's about the greater process of self-examination."

If Krispy Creme was available, I'd prob buy it too...

Can't fool a fool...

Kim's been trolling the world & the Donald has finally met his match https://twitter.com/KimJongUnh

I would think that a large portion of N. Korean refugees would present a highly motivated work force (once they were deprogrammed & that would probably consist of a handful of decent meals & a few hours of watching “Boys over Flowers” or this https://www.youtube.com/watch?v=JSogXlkOAbk (give it at least 45 seconds to really get going...)

Glad you enjoyed your trip! Between the National Seashore & the beach mouse, developers can't get a lot of traction here (but it keeps the area quiet & pristine.) Gotta say, I find all your posts to be extremely astute & valuable (especially this one...) Keep a weather eye out & sand fleas catch Pompano!

It reads like you are having a bad day today, DooDiligence. I hope that's not the case. In case, just do a bit charting of your NVO US ADRs today on your Mac, and you will likely feel better. Actually my day is going awesome with a Novo kicker to offset ESRX! Feeling financially sound enough to go ahead with my plan to turn the moon into a death star & yes, it will have hydrogen howitzers...