adventurer

Interesting stories. How old are the users on this board? Has there been a survey in the recent past? You all had very interesting opportunities in your life it seems. I am 31, so not that many (at least) yet Or I was too stupid to see.

Hello everyone, does anyone have recommendations on how to determine a multiple when valuing a company? I have seen several calculations when valuing companies but I can`t figure out how the multiple was determined in the first place. Perhaps there have been topics created in the past on this matter? Thank you.

Is nobody concerned about the high yields? Seems too good to be true almost. 13,5% and 9,5% is crazy high to my mind. But they will have secured a good margin of safety on this I suppose...

+1 Adding Munger`s remark to never underestimate a man that overestimates himself. Considering all the arbitrariness that goes on with Tesla stock I don`t understand how anyone can consider this to be a good investment by now. This is even hardly a good speculation anymore (depending on the context of course) but just gambling. Look at the change in price within just a few months since the election. Fundamentals can`t change that fast or at least did not change that fast for Tesla. Everyone I know that is talking about Tesla stock has no idea of their fundamentals nor do they have a solid understanding of what investing is at all (meaning they have no proper definition at hand). The world is going crazy. Dogmatism is the safest way to fanaticism. Edit: Look up the story about the YouTuber Asmongold and Elon Musk on YouTube or Wikipedia. Elon Musk shouts his insecurity into the world.

How do you think will Fairfax do in case Trump will pull through with any of his economic threats towards Canada?

Based on UKs post, Viking`s very useful insights on Fairfax as well as the annual reports since 2019 (including), my goal is to shift the amount of invested money to BRK 37,5% FFH 62,50% by the end of the first 6 months of this year. If everything keeps going the way it did, the first 100k should be reached this year. If the momentum changes completely into the opposite direction I shall wait more. But considering the position of both companies selling is not an option. I am also thinking of raising the FFH stake to 70% towards the end of the year. As everybody else I try rethinking my two positions very carefully. But FFH does make the impression of being well-run as well as being undervalued. Especially in relation to their peers as well as to the rest of the North American market. Fingers crossed.

Thank you all!

Hello, I am trying to figure out parallels between bubbles. Hence one needs to know their characteristics in order to compare them. Are there any books out there on this topics? Does anyone know any? I know "1929" but I am more looking for a discussion of this matter on a meta-level. As in what makes them similar and how they differ. Any ideas?

Now BRK 64,2% FFH 35,8% I believe strong management and diversified businesses offer good long-term potential, similar to the S&P 500 but with less tech exposure. With solid management, I see a strong chance of occasional outperformance. Inspired by Charlie Munger's '3 businesses' idea, I'm aiming for a 50:50 portfolio split (since there is no third company in sight for me) and slowly approaching my first 100k. Fingers crossed! Always open for critique.

Thank you. Can somebody please explain the concept of buybacks with respect to the time horizon? Are buybacks always announced the way Fairfax`s has been announced (above)? And is it not always desirable to own shares during these periods? At least if around 10% or above of the outstanding shares are to be acquired? And does somebody have experience as to how probable it is that Fairfax will be able to acquire the full amount of shares? Did they manage to acquire the target amount in the past?

Any thoughts about how the rate cuts may impact WEBs decision making in the future? He emphasizes that it is all about valuation and whether price is good or not. But I am a bit worried that valuations will now go up even further due to the rate cuts. Valuations will become even crazier it seems...

Anyone know whether there will be an interview with WB on his birthday with Becky Quick from CNBC?

Ah ok, so due to the equity accounting method profits over the years increased the value of the investment even though the company`s market cap never reached that amount. The company has a market cap of approx. $200 million. Does anyone know when FFH invested in Exco for the first time? Because over $218 million in profits seems like a lot.

Hello all, consider the excerpt attached of the Fairfax annual letter for 2023. I don`t understand how Exco Resources is being carried at $418 million or $18,24 per share on the balance sheet while the company itself has never reached that valuation. What am I missing?

Hello, perhaps this has been discussed before but I did not find it. What is the consequence of these share buybacks? Say this goes on for another 5 years, wouldn`t the company be taken private at some point? I can see that the value of the shares will most probably rise but at some point the outstanding shares have been reduced to a point where it is possible to take Fairfax private and delist it. And thoughts on this?