valueventures

Starter in BN.

What's your thesis on SCR.TO? I'm long as well, but this one doesn't get much discussion here. Thanks!

Also a small starter in SNDL...hoping for a quick flip on this one.

Nice portfolio, but where is GLASF?!

Added to GLASF on the dip

More Fairfax

I don't have a strong preference. I've read that KKR is better suited for low rate environments and APO for high rate environments, so would expect KKR to perform a bit better if/when rates get cut. Also, I follow a few hedge funds (1 Main, Greenhaven, etc.) that are long KKR. Lastly, I thought that S&P 500 index inclusion would be a catalyst for KKR (which ended up materializing and resulting in a nice pop in share price). I'd love to own APO at the right price...we'll see if the market affords me that opportunity.

Why did you sell APO and KKR? Both solid long-term compounders. I only own KKR and still think it’s reasonably priced (25 P/E) despite YTD outperformance.

Any current ideas for companies that you could see being acquired?

Can't buy anything with Schwab being down. Crazy stuff

IGIC is the only other player that I’ve seen with comparable valuation to Fairfax. I believe it’s at like 1.2-1.3x BV. KNSL is in my too-hard pile with that valuation.

Any players in the space that people see as reasonable / good value today? AJG and BRO would be my long-term picks, but hesitant to start positions today given how they've run up in price and valuation.

I’m looking at BLDR too. Do you have a view on BLDR vs. CRH? Thanks!

I am not, but thanks for asking

I'm up ~5x on AAPL, ~8x on NVDA, ~3x on META, and ~2.5x on AMZN. Cost basis on my other holdings is significantly lower since I've owned them for a much shorter period of time. FFH is my largest position at MV only because it's also my largest position at cost basis, by far.