valueventures

First monthly budget surplus in 12 years: https://www.barrons.com/news/argentina-sees-first-monthly-budget-surplus-in-12-years-a148e46a

Apologies if this has already been discussed in detail, but does anyone have updated thoughts around FFH's possible inclusion in the S&P/TSX 60 this year? Seems like the most mechanical means of facilitating more institutional involvement in the stock and driving up P/B. I believe FFH already qualifies for the index based on its size, so curious to hear what is holding it back. Thanks!

Curious if anyone systematically tracks index inclusion candidates given their potential for forced passive buying as an immediate catalyst. Some of my positions that come to mind are KKR (candidate for S&P 500) and FFH (candidate for S&P/TSX 60). Think this could be an interesting tool to filter for businesses that are becoming more "institutionally accepted", if you will.

Great call. I'm in KKR and it's been a nice ride this year too. Agree with your recommendation to supplement APO and KKR for high and low rate environments, respectively. Will look to get into APO at some point when we get a correction.

Added to FFH ahead of earnings tomorrow

Like 5% of my actively managed portfolio and if it performs well, I'd let it grow into a larger %.

Starter position in TVK.TO / TRRVF. Price has gone up a lot (largely from execution rather than multiple expansion), and the last quarter was terrific. Would look to average down and build a full position if/when we get a broader correction.

Bought a bit more JOE

Starter position in BOC

https://www.cnbc.com/2024/02/01/activist-elliott-builds-roughly-13percent-stake-in-etsy-secures-board-seat.html Elliott going after ETSY now. Thoughts?

I view conglomerates as a "semi-passive" approach. I've been putting new capital into FFH, NNI, etc. since I view them as more attractively valued at the moment, but I don't need to worry so much about the idiosyncratic risks associated with stocks that only operate a single business line, product, etc.

I can't speak for others but based on the 2024 portfolio thread, JOE is still one of the most commonly held / heavily weighted positions. Kuppy recently commented on valuation on his Twitter (this is his largest position), reiterating that there is still a significant discount to NAV despite the run-up in price.

IWGFF, looking to benefit from transition to capital-light model

Could you just remind us newbies of what your current top 5 is? I followed you and others into JOE recently and would be curious to know. Thanks!

What are your thoughts on $LMN valuation after the significant run-up in price post-spinoff?

https://www.wsj.com/finance/tinder-owner-match-draws-elliott-investment-4a2b6996 Elliott going after MTCH now. Thoughts?

Headed to Los Cabos in early March for a family trip! Anyone have any recommendations on what to do, where to eat, etc.? Thanks!

How does this Canadian withholding for US investors in taxable accounts work if you buy FRFHF (OTC) vs. FFH.TO (TSE) or FFXDF (OTC) vs. FIH-U.TO (TSE)?

Thanks! And just one more question - how do you think about APO/KKR vs. BN/BAM broadly? Given your 23% exposure to APO, I assume you've done some work around understanding the US vs. Canadian opportunity set.

Nice portfolio! How do you view the opportunity set / valuation in APO vs. KKR? I recently started a position in KKR given momentum around the completed acquisition of Global Atlantic, likely inclusion in the S&P 500, etc.

Interesting. BABA and TCEHY seem to be very popular picks for 2024. Out of curiosity, assuming you own Fairfax, how are you sizing Fairfax relative to Fairfax India?

Has anyone watched The Boys in the Boat yet? Looks good and definitely on my watchlist.

What are your thoughts on / logic for buying EBAY over PYPL?!

Safe stock: NNI. Good value here after trailing the market in 2023. Sizable position for me Riskier stock: GLASF. Expecting rescheduling ahead of the election

Starter position in Strathcona (STHRF). Canada's 5th largest oil company. Waterous owns 90% of the business, and it's traded down since its recent reverse merger of Pipestone.