Lakesider

I couldn't find any news. Q3 release is in two days. It's possible that information has leaked about the results and its not good. Or maybe someone just wants out before the results are announced. It seems a little desperate to crash the price to do so, but we will know in two days. Now up 15%, could have been a good day if someone added :P

Adding to AR

I've added here, I think IIFL issue will blow over and risk is being overstated. Fairfax can offer them a safety net given the size of the investment.

Nope, there are many routes to success. VC1 appears to have assessed a manager on a track record? How else are you going to value a manager? Sometimes momentum investors are buying stocks that look good in the hopes they turn out to be good. Value investors buy stocks that look shit with hopes they turn out to be not so shit. There is often a good reason why stocks have good momentum, eg a high quality moat.

Added to Naspers

Added to TOO and NIF-U Watching fairfax India too, will likely add under $15

Welshman living in Auckland

Found on Reddit, sharing here. Part 1 Part 2 Edit: Just seen that Alpha has already posted in berkshire news thread... My bad.

I bought some equipment for a home gym, very discretionary as it probably wont be used much. ;)

That's not discretionary. It is if you are British.

http://www.cornerofberkshireandfairfax.ca/forum/profile/?u=9507

Spot on.

I think their only right is to receive dividends before the commons, management can delay div payments if they so wish. Maybe some of the pressure is also worry that at maturity they wont be paid out with cash but with commons that are rapidly sinking?

Thats what they are for. thats what they are for.

Thanks tradevestor, not sure why i was looking at march..

https://www.scribd.com/document/385132733/Qlet2018-02-1#from_embed Q2 letter, year-to-date loss (18.3)%.

This has come back down to about P/B (31 march) of 1.1, Indian markets have recovered from the dip in since so todays PB likely even better. Keeping my eye on this thinking about adding more.

I wasn't sure of the answer so I asked my CFA tutor, who seemed to think that the preference shares would likely just be converted to common at maturity. So no bankruptcy fears.

Might be a dumb question... But, What happens when a company cant pay the maturity for cumulative preference shares? I'm guessing that they just owe the money to the holders as they would with a dividend? Preventing the commons from receiving payments until obligation is met? Thanks

If that were the case, wouldn't price/BV fall below 1.2 anyway?

Not many review of the book here? Any thoughts?

+1 Cardboard I wonder if there will ever become a point where they decide they have destroyed enough of the Goodman fortune and hand over the reigns.

The book is a marketing tool, The high price means everyone has heard about Klarman and Baupost. Its a clever and deliberate strategy.

Unless the sumzero interview is wrong he must have. Was 25% before.

Well just to contribute something, I think Berkshires future out performance will come from its liquidity, buying things when at the right valuation. Wasn't trying to be toxic. I was just curious to what mega caps you think brk could buy to replace holdings in KO, KFC, WFC ect in this market that would bring better returns for the next 10 years. Cheers