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nwoodman

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  1. MS with an update on losses “Hurricane Ian makes Florida landfall, marking the first major hurricane to make landfall since Hurricane Ida in 2021. Current industry loss estimates range from $10b-$30b+. We think individual company exposures are manageable. While total insured losses for FY22 should be < $100b, we still expect strong reinsurance pricing into 2023.” INSURANCE_20220929_0000.pdf
  2. @Spekulatius Thanks for the vid, what a train wreck
  3. Perhaps, while it is hardly an original thought, arming the these minorities has the potential for unintended consequences. Perhaps I am being overly optimistic but there is a chance for a levered outcome here. The underbelly is showing.
  4. Fixed it for ya. I think this is the last roll of the dice for the nutjob. Watching the news tonight with the solitary voluntary conscript being interviewed as he departs….even my kids said “but that bus is so empty”
  5. A rather irate Jeremy Siegal. “Calling it poor monetary policy is an understatement”. Sure is creating some interesting opportunities either way. Flushing of weak hands and crappy businesses is a pleasing outcome. Cathie Wood stepping down from a couple of her shittier ETFs should mark the beginning of the end
  6. Great read. The definition of insanity springs to mind. Watching the news this morning there appears to be a “run on Russia” with many young men fleeing across the border. Hopefully this plays out rapidly from here….in a good way
  7. Yep, the regulator two-step goes on. I think you make an excellent point though….. there is a big difference between “No” and “No, but we will reconsider once you have done …..”. An impeccable record of corporate governance will be key…to misquote A Tropic Thunder “Very easy to shit the money bed” Will it be worth it? The market seems to have a view. We see an opportunity
  8. Looks like the IPO is on hold for now "While SEBI gave no reasons for its decision, a source familiar with the watchdog's thinking said concerns had been raised by the regulator that privately held Digit issued shares to more than 200 individuals in the past financial year, which is not allowed under Indian laws and regulations. Digit will need to review SEBI's concerns and resolve them at an appropriate forum, the source added." Digit Insurance IPO put on hold by Indian watchdog | Reuters SEBI | Processing Status : Issues
  9. Fair chance they are raising cash for a crack at IDBI bank. 41m Cr => USD5.15Bn. This would give them short-term indigestion but perhaps side agreements with the other consortium members to buy them out over, say, five years. Certainly fits with the FFH spiel of investing roughly that amount in the foreseeable future. Govt taps TPG, Carlyle, Fairfax for IDBI Bank stake sale - The Economic Times Video | ET Now CSB Bank stock is a good buy for portfolio investors - The Sunday Guardian Live If this comes to pass, then they could make a "lotta money". Not without its risks, of course, but damn, there have been fortunes made picking up these types of government assets.
  10. Interesting that the article claims a premium on the sale? Control premium? Current market cap 29.15 INR => USD365m @52.8% = USD192m. So if the premium applies this could net around USD250m ex tax. Not too shabby considering the entirety of Fairfax India is quoted at USD1.37B https://www.google.com/finance/quote/543252:BOM?sa=X&ved=2ahUKEwjG8der96H6AhW0_DgGHTnrC1kQ3ecFegQIIxAg&window=MAX
  11. It’s a great show. In particular Marciano is one of my favourites. Pretty cool that you have had the opportunity to fish with him. Did you have any luck?
  12. Sold remaining ATCO and bought FFH and BRK.B with the proceeds. Still firmly believe they will raise the bid on ATCO but the price for FFH and BRK quite compelling here.
  13. Call out for Bad Sisters on Apple TV+. one of the best shows of the year if you are into slightly dark, Irish humour. Has a four weddings and a funeral vibe. Claes Bang, as Jean Paul is diabolical but a great performance . I think this will be up for multiple awards. Spoiler alert in the guardian review below , as the opening scene sets the tone and is worth watching without any preconceptions. Episode one is good enough to watch again, which I have https://www.theguardian.com/tv-and-radio/2022/aug/19/bad-sisters-review-sharon-horgan-pitch-black-comedy-is-murderously-good
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