Pedro

Hopefully Mr Thompson can turn the Brit. Would have liked to see an exec from NB or Allied or one of their other historically profitable ins ops take over but at this point change is clearly needed. Hardest market in 20 years and the Brit consistently finds way to burn capital. Brutal. Change is needed “Former RSA Canada chief executive Martin Thompson has taken over as group CEO at Brit Ltd., the Fairfax Financial-owned complex risk specialist. He succeeds Matthew Wilson, who had held the role since 2018. Mr. Wilson returned to Brit in September after a leave of absence to undergo treatment for blood cancer. He will remain with Fairfax in an advisory role. Mr. Thompson was CEO of RSA Canada from 2016-2021 and joined Fairfax last year. He served as interim CEO of Brit during Mr. Wilson’s leave of absence. London-based Brit operates globally and trades primarily on the Lloyd’s platform. “

Loved this one didn't see a thread on it yet.

Does this mean that FFH increased stake has been approved? Prospectus is showing their vehicle for owning Fairfax India at 83.65%? Am i reading this wrong?

I'm seeing going private offers as the priority not buybacks. Is the dry powder I was expecting going to buy back shares now going to takeout offers? Why did Prem say buybacks are priority in the Q2 call if their second priority to take out offers?

Is it possible for a CDN investor to buy these ibonds? Is there a CDN equivalent if the above is big fat no?

Seems like the odds of success at digits new reinsurance unit are in their favour. These are very favourable rules of engagement that dont exist in most countries “As the sole domestic reinsurance company, GIC already gets first right of refusal to provide quotes, after which foreign branches are allowed to quote. If Go Digit does establish a reinsurer, it would get the second priority where it would be given a chance to match the quotes given by GIC and sign onto a reinsurance placement at the same terms”

If it was me I'd do option 1. Family first -always. I'd want to be close as possible to my family and I'd never look back at what became of the toronto real estate prices. Option 2 is all trying to time the toronto housing market and no-one knows what will happen. Good luck!

Vetern qtrade user. Just make sure you have the right account chosen. Qtrade has a drop down for all your accounts on the tax slip page. I remember i kept looking for a slip but it defaulted to a tsfa and needed to change to an rrsp. I doubt that fixes your problem but you never know. Happened to me so I thought id mention. Cheers

Agree with the pupil - it doesn't pass the smell test. Wrecks of overconfidence and dare I add arrogance. I wouldn't bite on this sales pitch but I Aurelius could hedge/buy puts to protect his downside so its not his personal money he is paying if its not profitable with 4 years.

I'm fine with FFH continuing to slowly reduce its stake in Brit to buyback shares that these prices. Ki seems hopefully but I'm not convinced they are underwriting prudently over there. Their uw results over the long term are not good and FFH has a Lloyd's presence with Allied so less Brit and more buybacks are fine with me.

Brit is a disaster. FFH needs to move executives from their profitable underwriting companies to fix shop. Good lord.

So how can a third world country use MMT principles to get out of their powerless situation? The IMF/USD are going to continue to hurt them long term. Does a solution for them under MMT exist? I'm assuming this country has their own currency. How do you create more demand for their currency without having citizens flock to USD. Close the economy? Just freeballing here to see if MMT principles have any way to help these nation get out of a spiral.

@wabuffo Does MMT have a playbook for struggling third world countries to follow the MMT ways to get off the IMF/USD tit and find a way to become more in control of their monetary future? I would love to read anything about this if you know it exists.

But without the ability to wave a magic wand to instantly transform the unemployed into teachers, skilled health care workers, and engineers specializing in energy alternatives, more spending in these areas would compete for scarce workers rather than soak up idle ones."\ I wouldn't mind one lick if the government during tough times paid for someone to come take care of my homefront. Nothing a few online training classes for them and boom they can come help the homelife if they are willing and able to have that kind of work. Lots of jobs could exists thats productive but not highly skilled. Anyhout I wonder if universal basic income would work here instead althought doing something porductive with labour sounds better. Thanks for the paper to read. Its on my list once I finish re-reading the book.

Great Book. Haven't finished it yet but ripping through it pretty fast. Really enjoy it and has really explained MMT well. @KJP - Thanks for putting the book on my radar. Re your comment - This part of the book is hard to take too seriously because it’s never squared with the fundamental point that we’re always limited by our real resources. She addressed this constraint in the introduction.....literally on the second page of the book. See exert below. I don't agree with your assessment that she hasn't made clear that we are limited by our real resources. She did in the beginning of the book and makes references to this throughout the book as well. Do I believe the solution to all our problems is to simply spend more money? No, of course not. Just because there are no financial constraints on the federal budget doesn’t mean there aren’t real limits to what the government can (and should) do. Every economy has its own internal speed limit, regulated by the availability of our real productive resources—the state of technology and the quantity and quality of its land, workers, factories, machines, and other materials. If the government tries to spend too much into an economy that’s already running at full speed, inflation will accelerate. There are limits. However, the limits are not in our government’s ability to spend money, or in the deficit, but in inflationary pressures and resources within the real economy. MMT distinguishes the real limits from delusional and unnecessary self-imposed constraints.