DynamicPerception
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Posts posted by DynamicPerception
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Time flies!
Congradulations on "your" board.
You keep an even keel.
You stick to the basics.
You take a little but not too much crap.
Hard to go wrong in the long term.
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Monday 2011Jan17 was ex-dividend date.
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So far the stock price and price to book ratio has a similar pattern between Jan 2010 and Jan2011.
Looks like we are getting closer to another buying opportunity.
USA Book Value: $369.80 USA Book Value: $401.32
FFH.TO Trading FFH.TO Trading
Stock At Book Stock At Book
Date Price Ratio Date Price Ratio
2010Jan04 $406.99 1.06 2011Jan04 $414.00 1.03
2010Jan05 $406.49 1.06 2011Jan05 $407.26 1.02
2010Jan06 $403.80 1.06 2011Jan06 $408.15 1.02
2010Jan07 $402.27 1.05 2011Jan07 $405.69 1.02
2010Jan08 $394.90 1.04 2011Jan10 $410.00 1.03
2010Jan11 $396.00 1.04 2011Jan11 $404.50 1.02
2010Jan12 $399.07 1.04 2011Jan12 $407.70 1.03
2010Jan13 $398.00 1.04 2011Jan13 $402.00 1.01
2010Jan14 $394.99 1.04 2011Jan14 $404.49 1.02
2010Jan15 $388.25 1.02 2011Jan17 $398.32 1.00
2010Jan18 $384.10 1.01 2011Jan18 $391.99 0.98
2010Jan19 $381.00 1.00 2011Jan19 $390.50 0.98
2010Jan20 $373.49 0.96 2011Jan20 $388.00 0.97
2010Jan21 $368.14 0.95 2011Jan21 $378.56 0.95
2010Jan22 $366.85 0.94 2011Jan24
2010Jan25 $366.50 0.94 2011Jan25
2010Jan26 $362.38 0.92 2011Jan26
2010Jan27 $367.80 0.94 2011Jan27
2010Jan28 $366.90 0.93 2011Jan28
2010Jan29 $362.81 0.92 2011Jan31
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Good visual.
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Didn't Fairfax throw in another couple of hundred million to help with the restructuring process?
I'm refering to the Debtor In Possession process or is this part of the 336 million?
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from page 11 of the 2009 Annual report.
While we have had great investment success in the last two years, our net gains include the absorption of some major
other than temporary impairment charges, mark-to-market losses and realized losses over these two years, as follows:
2008/2009
Other than temporary impairments (“OTTI”) 1,351.8
Mark-to-market losses 704.2
Realized losses 306.0
Included in OTTI are Level 3 ($226 million), Torstar ($175 million), Canwest ($121 million), Frontier Communications
($84 million), Dell ($65 million), U.S. Gypsum ($61 million), Brick Group ($40 million) and SFK Pulp
($31 million). Included in the mark-to-market losses are Abitibi ($336 million), California state bonds ($67 million)
and Mega Brands ($37 million). While Canwest is a permanent loss, the game is far from over on the other
impairments and mark-to-market losses. However, our balance sheet is very sound as we have written down these
investments to market value.
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Super Interesting Stuff
Thanks for sharing.
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I included my primary residence and 10 years worth of my pension on top of bank and investment accounts.
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I had trouble too but after hitting the >> and > a time or two it started up.
It make just take time for the player to get in gear.
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You may get a better response via a poll. Just a suggestion. It would be interesting.
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I like the management.
I like the business model.
I love their approach to reserving (the hell with combined ratios).
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I have seen the trainer that grabbed the lion many times but don't remember seeing the trainer who was targeted. He's lucky it was a warning 'shot' or else he would have been toast. Interesting how the lioness pounced on the male to help to try to calm him down. Scarry stuff!
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Not that it matters too much, but the hurricane season is really just getting fired up.
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Div. Shares Div. Paid Accum. Div. Paid
2002 $0.63 14,100,000 $9,072,000.00 $9,072,000.00
2003 $0.98 13,800,000 $13,818,000.00 $22,890,000.00
2004 $1.40 16,000,000 $19,320,000.00 $42,210,000.00
2005 $1.40 17,800,000 $22,400,000.00 $64,610,000.00
2006 $1.40 17,700,000 $24,920,000.00 $89,530,000.00
2007 $2.75 17,700,000 $48,675,000.00 $138,205,000.00
2008 $5.00 17,500,000 $88,500,000.00 $226,705,000.00
2009 $8.00 20,000,000 $140,000,000.00 $366,705,000.00
2010 $10.00 20,000,000 $200,000,000.00 $566,705,000.00
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Another good article.
"When Klarman can’t find investments he likes, he holds cash.
“We prefer the risk of lost opportunity to that of lost capital,” he wrote in his 2004 yearend letter to shareholders."
Right on! and thanks.
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Good value investor mindset.
Thanks.
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I have also liquidated 100% of my insurance investments (primarily FFH) as of late May.
I will probably wait until the 3rd-4th qtr to gage investor sentiment.
Cash is reasonable in this market.
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Good stuff.
Thanks!
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kudos Mr. Parsad!
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If you go to the FAIRFAX "Corporate" page, at the bottom you will find the link to the last (2009) AGM presentation.
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Very enjoyable.
Looked liked Warren enjoyed it as much as Indra and the hosts even more.
Thanks for the video Sanjeev.
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$CDN 1ST
Share Shares Qtr USA
Price OS Earns Book
2005 $168.00 17.8M $47.2M $137.50
2006 $231.67 17.7M $198.4M $150.16
2007 $287.00 17.7M $110.9M $230.01
2008 $390.00 17.5M $631.8M $278.28
2009 $410.00 20.0M -$60.4M $369.80
2010 ? ? ? ?
---------------------- In Millions --------------------------
Shrholders Accum Net Recover
Assets Invstmnts Equity Paid Div Earns From Re
2005 $27,542.0 $14,869.4 $2,448.2 $64.6 -$446.6 $7,665.7
2006 $26,576.5 $16,819.7 $2,662.4 $89.5 $227.5 $5,506.5
2007 $27,941.8 $19,091.7 $4,063.5 $138.2 $1,095.8 $5,038.5
2008 $27,305.4 $18,415.0 $4,866.3 $226.7 $1,473.8 $4,234.2
2009 $28,402.8 $20,078.6 $7,391.8 $366.7 $856.8 $3,809.1
2010 ? ? ? ? ? ?
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I've been 100% cash since 2009Aug10.
I started buying FFH again, some yesterday around $366.00, some today at $361.00.
Book to price in the low 90s. It may go lower.
But I'm happy.
Your position in FFH
in Fairfax Financial
Posted
Beside the $10.00 dividend;
as of 2011Mar09
I think FFH will take about a $12.00 to $14.00 per share hit on their hedges.
$130mil on the S&P500 and $140mil on the Russell 2000.
$270mil / 20.5mil shares.
Also a small hit on their bonds.