[2013 results are out]

Currently, good underwriting company worth 1.3 to 1.5 times book.  but Fairfax is not an underwriting company, don't forget we didn't have CAT last year. the investment result is still questionable, need to get more information from tomorrow's conference call.

[Fairfax's break even share price for RIMM]

I am a tech guy, but I have to admit I really can't understand technology companies, they are beyond my knowledge base. My estimation for RIMM was zero, and I was ready to treat RIMM as 0 in FFH's portfolio, all of a sudden , it worth $800M.

[Fairfax 4th Q Results]

 

And you won't be too happy to see these numbers:

 

 

 

Combined ratios of the insurance and

reinsurance operations in the

fourth quarters and years ended

December 31, 2011 and 2010 were:

                                                            Year ended

                                                            Fourth quarter      December 31,

                                                            ------------------- -------------------

                                                            2011      2010      2011      2010

                                                              --------- --------- --------- ---------

Insurance  - Canada (Northbridge)    101.9%    111.2%    102.8%    106.9%

                    - U.S. (Crum & Forster

                      and Zenith National)      124.2%    130.1%    114.3%    116.5%

                          - Asia (Fairfax Asia)      89.2%    90.8%    83.2%    89.3%

Reinsurance  - OdysseyRe                    122.7%    85.8%    116.7%    95.0%

Reinsurance and Insurance - Other      155.1%    90.1%    140.9%    107.2%

                                    --------- --------- --------- ---------

Insurance and reinsurance operations  121.0%    102.9%    114.2%    103.5%

 

 

 

 

 

 

 

 

 

 

Definitely not good

 

Net investment gains of $691.2 million (net investment losses of $914.9 million in the fourth quarter)

[Fairfax 4th Q Results]

Definitely not good

 

Net investment gains of $691.2 million (net investment losses of $914.9 million in the fourth quarter)

[Fairfax Doubles Stake in RIMM]

I have been reading and thinking RIMM for the whole weekend. The answer to myself is I have to treat FFH's entire investment in RIMM as a loss.  So 450M loss will be around $22/share. I think I can take it.

 

I also wonder whether FFH would get a better relationship with Canadian government by saving a Canadian icon and thousands of jobs.

 

 

[Fairfax Doubles Stake in RIMM]

I really want to ask Mr. Watsa during next conference call why he wanted to bet on RIMM.

 

To me, this is a very tough market. There is no other companies better than RIMM? I think this is a gamble.

 

 

 

 

 

[Sometimes hurricane is a "good" thing]

Hurricane could boost insurance pricing

 

http://www.reuters.com/article/2011/08/23/uk-hurricane-insurance-idUSLNE77M04420110823

 

 

 

[Did Fairfax sell all SD shares?]

I just noticed today. It seems FFH has sold all SD shares.

 

http://finance.yahoo.com/q/it?s=SD+Insider+Transactions

 

 

[FFH 2nd Q earnings]

Combine Ratio 100.6% including all CAT is not a bad result. 

 

By the way, i didn't see the ICO transaction was mentioned in 2Q report.

[What percentage of your portfolio is in Fairfax Financial?]

This is my second post. my first post was: "95% of my entire asset in FFH, 5% in cash."

 

 

Now I have about 40% in FFH,  sold a lot around $260 last year.  Bad move!

 

I have been asking myself couple of questions "Do I have better investment skills than Watsa"? Answer is "Not even close."  "do I fully trust him?" Answer is "Absolutely !".

 

FFH percentage in my portfolio may never reach 95% again, but 60-70% is possible.  

 

 

[What are you guys holding right now?]

95% of my entire asset in FFH, 5% in cash.