cwericb

Well something has stirred a lot of interest in FFH today. as of lunchtime: Fairfax is up $62.67C or 2.7% to $2,385C

Really? Just because he is young doesn't mean he is wrong. You feel he is wrong primarily because he doesn't agree with your own views. I am one of the older guys here and I agree with much of what Blake Hampton says. And, according to your theories, I am probably more right than you as I am likely older and more experienced than you.

I find it interesting to look at the public face of companies held by Fairfax, it is kind of like putting a face to someone who you frequently have contact with but never meet in person. Then again, that's just me. Meadow Foods web site https://meadowfoods.co.uk/ Here's just a few more....... AGT Foods: https://www.agtfoods.com/ Eurobank: https://www.eurobank.gr/en/group Recipe: https://www.recipeunlimited.com/ Sleep Country: https://en.sleepcountry.ca/ Orla Mining: https://orlamining.com/ Peak/Bauer https://www.bauer.com/?srsltid=AfmBOopSScR0hT_DUAnsgIMZpXUH2kRDO_n5SdTVCP1GB0PS7S0dvrdQ

More likely smells like bullshit.

Haha. all the political threads are here for entertainment value. Yup, we survived Trump term 1, jury's still out on term 2 tho.

Aaaa ... well, they already have.

CIBC have a target of $2700 for Fairfax. Here is their take on Eurobank. EQUITY RESEARCH May 20, 2025 Company Update FAIRFAX FINANCIAL HOLDINGS LIMITED Unrealized Gains Continue To Accumulate On Eurobank Shares Our Conclusion This is a brief note to highlight the continued momentum building in Eurobank shares, which are hitting multi-year highs not seen in almost a decade. As Fairfax’s largest equity investment, we now estimate that “unrealized gains” amount to more than 5% of book value. This magnitude might sound more additive than transformational per se, but still reflects a healthy amount of upside that has not yet been crystallized or recognized in earnings / book value. Fairfax’s equity portfolio has always garnered a lot of attention owing to the company’s unconventional approach of acquiring large economic interests in higher-conviction holdings. In this context, the strong performance of Fairfax’s single-largest equity investment could bode well for investor sentiment and the multiple re-rating opportunity. Key Points Eurobank shares hitting multi-year highs. Eurobank shares are now trading at US$3.00/share (see the line chart in Exhibit 1), which is the highest level in nearly a decade. Fairfax owns a sizeable economic interest in Eurobank, representing the company’s largest equity investment with a carrying value amounting to ~10% of book value. Eurobank is a diversified banking group with operations anchored in Greece and a growing presence across Cyprus, Luxembourg, Bulgaria and the U.K. Fairfax owns a 32% economic interest which necessitates equity accounting, meaning that the investment is not marked-to-market. As a result, fluctuations in Eurobank’s share price do not have any short-term implications for earnings or book value. However, the unrealized gains accumulate just the same – whether they are recognized in the short-term or long-term from an accounting standpoint. Considering that Eurobank is likely not on the radar of most North American investors, we thought it would be worthwhile to highlight the continued build in share price momentum. Unrealized gains now amount to over 5% of book value. The current market value of Eurobank shares implies that the fair value of Fairfax’s investment stands at US$3.6 billion, significantly exceeding the carrying value of US$2.4 billion (as outlined by the table in Exhibit 2). The difference between fair value and carrying value (i.e., US$1.2 billion) amounts to 5.1% of book value. We continue to like FFH at these levels. Fairfax’s largest equity investment continues to perform well and demonstrates positive momentum. We also see potential for Fairfax to eventually be added to the S&P/TSX 60 Index which could drive a significant amount of passive buying activity into the stock (our index analyst had previously estimated 15x ADV). Valuation also remains inexpensive, with the stock trading at a P/B multiple of 1.5x versus peers at a median multiple of 2.2x (despite generating a comparable ROE and a healthy / growing divergence between fair value and carrying value for certain investments like Eurobank).

Yes, but they do add to the entertainment value here with their persistent belief that Trump is the man to fix the country's/world's problems. We shall see.... Strike one... Over 50 times Trump has publicly declared that HE would personally end the war in the Ukraine on Day One. “First, I’ll meet with Putin, I’ll meet with Zelensky. They both have weaknesses and they both have strengths. And within 24 hours that war will be settled. It will be over. It will be absolutely over.” or even more B.S. “And before I even arrive at the Oval Office, shortly after I win the presidency, I will have the disastrous war between Russia and Ukraine settled.” Easy peasy, right? Well we are still waiting sir ..... When are you going to end this war? Or will you just drop it and slink away as usual. The great deal maker?

And to prove the point ...................................................

Friend of mine went back for a visit to his middle eastern country a couple of years ago. Said while he was there one of his close friends asked him if he would take some U$ back with him and deposit them in an account for him. Took him down into his basement where he had bags and bags and bags of U$ that near filled his basement.

Some "smart people" can be really, really stupid. "Brainwashed" was a term that you don't see as often as it used to be, but it certainly applies to a lot of the supporters of a certain present day politian.

Guess that is what happens when a guy like Carson Block (Muddy Waters) listens to a guy like Brett Horne. Perhaps they are in-laws or something?

In other words, analysts who are too lazy to actually do some work on the companies they are "analyzing". The sad part of this is that people rely on this type of BS to make investment decisions and Fairfax is a prime example as Horne has been so consistently wrong time after time. And because some rely on these guys it effects the stock price which in turn effects other investors who have actually spent the time to analyze the stock.

Yes Brett, the market is wrong! Again, and again. And how many years in a row has the market been wrong now? And the big banks? .... Well they must be complete idiots because they are forecasting share price to be $1,000 per share higher than your guesstimate. Sheesh! Where does Morningstar get these guys?

....as Brett Horne grits his teeth ...

Are you sure you didn't mean... "If you think you can trust the United States, then you’re dreaming. ?

Wondering when that graph was made as things have changed drastically in that respect in the last few years..

Well of course. Everyone knows that Trump would never lie as he has a fine reputation for always telling the truth. People get to live with the reputation they build.

Yeah, I was watching that too. Pretty consistently moving up most of the day , looked like we might see a new high and then tanked minutes before close. There was a flurry of trades just before close.

But there are others who can't see the forest for the trees.

Yes. I think Prem and company have done a spectacular job over the years but I hope that Prem will step back from the spotlight and let Ben have a larger presence, simply because no one lives forever. Perhaps there may be some signs of this happening. One of my main objections regarding Fairfax has been that you rarely see mention of the company without Prem's name attached and I believe that this has not necessarily helped the share price in recent years, (think Blackberry, hedges, etc). JMHO

I purchased my first shares in 2007 @ $215 CDN and like you, I still have them. We are both probably quite satisfied that we did. While others were in and out of FFH over the years I don't know if they did much better over all, than we did with our original shares. And you are probably quite right about the CDN$ vs U$ as CDN has slipped massively over those years.

Thanks all for the comments. I may be wrong, but I think you will find that if you take those same dates 2009-2020 and plot both FFH and the TSX index on a graph, you will find that Fairfax actually out performed the TSX during that period. So while performance might not have been great, it appears to have at least beat the index - and this doesn't include dividends. Further, there were times during the GFC when stocks were hit hard and yet Fairfax stock price stayed level or increased. Now while that may sound like a detail, it balanced off losers in my personal portfolio during that period and helped me to sleep at night. I have held FFH since 2007 @ about $215 a share and added through time. If I had tried to time the market there is no way I would ever been smart enough to have cherry picked when to jump in and out of FFH. But I am quite happy with my returns on Fairfax and it represents a bit over 50% of my portfolio.

SO. Here is what I can't get through my thick skull. When I see members post their holdings I can't help but notice the number of members of this board that don't show Fairfax as a holding - and this is nothing new. Why? I mean the name of our board is The Corner of FAIRFAX and Berkshire, so the company is no secret. One of the main discussion topics is, and always has been Fairfax. The sum point of the Fairfax posts has always focused on the amazing potential of Fairfax. A quick look at a chart for Fairfax stock price will show price performance far and above any index. And yet a good percentage of members do not own shares in Fairfax - even with stellar future performance almost a given. My own shares in Fairfax date back to 2007 and have never once found a good reason to sell a share. And yes, there have been times when share price has stagnated or declined, but during those same times, Fairfax shares were often still out-performing the general market. And it is not like it is difficult to find detailed info on the subject. The Fairfax thread contains what must be the most detailed examination of any company ever to list on a stock market. I imagine Fairfax management probably checks Viking's posts just to see how the company is doing from week to week. Other than Prem's trips to the bathroom, everything about the company is pretty well detailed in the posts on the subject. So even today the potential is well known, detailed, and probably as good as it has ever been, so what am I missing? I just find it rather strange that on a Fairfax board that there would be so many members not holding any significant shares in the company.

It is actually embarrassing that these twits are so delusional and out of touch with reality. How is any country supposed to take these guys seriously when THEY can't even tell you what they want to achieve? What's their end goal? Bring back $5 an hour factory jobs making socks and T-shirts? Or farm labor to replace Mexican farm and factory workers? Or is their such demand for work we will see American labour cleaning up people's property and similar jobs that the deported labourers have been doing? Or perhaps just an excuse to raise more taxes and fool the nation's people into thinking someone else is going to pay their taxes. Anyone who believes that stuff I have a great big wall to sell you that Mexico paid for. Oh wait... Tump is insulting the intelligence of Americans.