ICUMD

Good catch. The claim is mysterious. I don't believe the share price has even traded that high since Dec 31, 2021. Yet they claim they bought the 1.4 million shares under an 'automatic share repurchase plan'. Is this separate from the NCIB? Are they selling to themselves ie. Fairfax to Fairfax India?

I wonder the same thing. Can't help but think there is a strong level of manipulation going on to keep the price suppressed. And it's been doing this for quite some time now.

Thanks for posting. At these prices, upside is very good IMO. Share repurchases I think will remain 'safety net' to ensure mark to BV periodically. Bial continues to build out its infrastructure with construction of the Metro to its doors and terminal 2. They are also executing well on their aerocity plan. An inflationary environment should make these assets even more valuable. Not the worst way to have exposure to a emerging market, especially at current prices.

The 2008 Lehman moment seemed to be aborted by central bank intervention and bailouts. I doubt the central bankers will let the house of cards fall. They are not afraid to raise liquidity. Any wobble, and bam... lower interest rates IMO + bailouts. I try to keep powder dry for the wobble.

Can you claim a capital loss if your adjusted capital base is more than $252 USD? Overall, it does seem to me that the shareholders are paying tax on the deemed dividend at their own expense and in favor of Fairfax. (Unless you are in a tax exempt account).

With the rising popularity of EVs, it will be interesting to see how additional electricity will be generated. That's a lot of windmills and solar farms in Germany.... Good thing they will have a couple of mothballed nuclear reactors on standby!

I suppose inadvertent bloodstream injection of vaccine could cause uptake in the heart muscle, spike protein production there, immune attack and myocarditis.

Probably dividend payment to follow?

Complete speculation, but could be sellers of FFH in the Dutch Auction looking to re- enter at an attractive BV discount. Low volumes driving sp.

Definitely a plausible hypothesis... I agree. My take: FIH and FFH are long plays with low relative risk due their discount to book value (0.65 and 0.85) respectively. Unfortunately, the larger market has not 'discovered' the Fairfax franchise in favor of chasing returns in trendy areas like bitcoin, tech, EV The good news is that ongoing BV discounts will always remain attractive for Prem to go Dutch. A competitive sink for cash vs new investments which may be hard to come by in this market. With them, there should be periodic reversion closer to BV. Let's see what 2022 brings.

Not sure this makes sense IMO. At the very least there is no data to support this theory. The idea of injection into muscle or fat tissue is to slow the absorption of a drug. Ultimately it is absorbing into the blood stream and circulating. Some compounds like Mercury and Nitro can be dermally absorbed, some through inhalation like Nicotine or carbon monoxide etc. Ultimately, most compounds get into the bloodstream. Could a sudden bolus of vaccine into the bloodstream cause clots? Possibly, but again, no evidence to support this to my knowledge. Personally I suspect, clot and myocarditis is due to autoimmune activation in susceptible patients. We see the same phenomenon with certain viral infections.

New 175M Credit Line. Acquisitions or buybacks I wonder... https://ca.finance.yahoo.com/news/fairfax-india-completes-175-million-220900138.html

As it goes down, it becomes a better and better bet for auction buyback arbitrage IMO. Plus there is the Anchorage book value catalyst once it goes IPO.

Thanks very much SJ. Ill definitely keep my shares for now and go along for the ride.

Thanks for the explanation SJ. Correct me if I'm wrong... So I have a cost base of about $400 USD in a taxable account. So it seems that there is a negative tax impact to tender by experiencing a deemed dividend of about $248 usd per share. Otoh, I could potentially sell it for a capital gains of $100 should it hit $500. This seems much more favorable from a tax perspective.

SJ- So I presume you're going to go the route of the auction price tender as opposed to purchase price tender?

I have received the auction notification. It appears I am not smart enough to understand the pros and cons of the purchase price tender. It seems that the chances of there being a large difference between the upper end of the offer at $500 and the purchase price tender price being negligible. Is it really just a gamble and an option for someone desperate to rid themselves of shares?

That's certainly a valid play Viking. Otoh, the NCIB for Fairfax India is for up to 12k shares /day with a plan to purchase up to another 2 million outstanding shares until Sept 2022. Recently daily trading volumes have been falling- only about 20k shares traded today. I think this alone bodes well for share price support. Just a guess, but I think the airport is quite undervalued on the books. Once Anchorage goes public BV will rise significantly. With small trading volumes, it won't take much for share prices to rise. I know how much Prem loves FIH from his annual reports. Good chances for another Dutch auction soon, prior to the Anchorage IPO IMHO. Also one of the better plays in India for any investor. Of course, time will tell the story.

Thanks SJ. That's very helpful.

Thank you for the recommendation SJ. I'll definitely do that. Does the same strategy work for Canadian Bank stocks that are interlisted on the NYSE like Royalbank? Will that provide a stream of US dividend income avoiding the currency exchange costs?

Definitely I'm watching closely. Already hold a large position. Further weakness if fear takes hold with the Omicron variant could push this to single digits again. Logical exit from FIH.U seems to be when Prem does his auctions. I suspect he will offer to buy back at 30% discount to BV ie. ~$18 So current values indicate a 50% discount to that. Not a bad return at current levels!

Has anyone tried to tender for the auction yet? Contacted my broker with intent to tender at $500. Was told the auction is not yet open. Also, was told that there will be probably be an option to receive funds in USD though my holdings are in Canadian funds. Can anyone verify this information? Thanks!

So let's fast forward to a hypothetical world where bitcoin is worth 100 M each... A handful of people will be extremely wealthy and powerful. Who are these people? Do they deserve that wealth? What will they do with that power to improve my life? Are they corrupt? Is this really a fair system where these people hold the power over governments? Is this a system that fosters job creation, innovation and progress? Why should I support such a system by buying bitcoin? As a public servant, what's in it for me? If I want to protect against currency risk and devaluation, why should I buy Bitcoin over say Berkshire or Google shares which are active assets and actually affect my life in a tangible way?

I applaud this tremendous performance. But I assure you, I am clapping very slowly for obvious reasons...

ETFs seem attractive for many these days due to relatively low fees vis a vis trying to create your own diversified portfolio. For non inclined, small portfolio investors, probably the easiest route. In this high liquidity environment, they have become massive. Since these are relatively new instruments, not sure how they will react in a major market turndown. The big question for me is how they will maintain liquidity if everyone heads for the exits at the same time. Could they snowball a correction? I dunno.