Buffett_Groupie

The gains from CDS aren't unlimited whereas the losses from equity hedges are unlimited, right?

Risk management means paying a premium to buy insurance to limit the risk and if the risk doesn't materialize, you'll lose the premium only and not the exposure to unlimited losses like a direct short, right?

@SafetyinNumbersPlease explain how an investment can be positioned well for both "an increase or decrease in rates", it's like saying both the casino and the gamblers are making money on each transaction, right?

Congratulations! You folks are so smart and brilliant to time the purchase impeccably well in 2020 whereas I had to endure 23 years of pain and suffering before capturing the same gains in the most recent 5 years. But then again, Charlie Munger said without suffering, any decent gain is grossly undeserving because the world isn't a crazy enough place, yet, to reward a bunch of undeserving people. LOL Hence, one should deliberately bring on more pain to make it more deserving

"aiming for something like 6 out of 10 investments being ok and 2-3 being superb, with 1-2 duds." only works if each investment is equally weighted, but in practice, it never happens, right?

Surprised how subdued the market reacted in terms of the share price despite the outstanding results

@Viking Will this be appropriate? Engine 1: Insurance and Reinsurance Engine 2: Investment: Fixed income, public and private equity (Seaspan, Eurobank, ...) Engine 3: Non-Insurance: Wholly-owned businesses (Recipe, Sleep Country, Peak Performance, ...)

It's important to attend https://www.stingyinvestor.com/FairfaxWeek2026.html in person each year to reinforce our own commitment/confirmation bias with folks of similar belief for more social proof and group-think Delayed gratification is the willingness to look foolish and wrong for more than 23 out of the 28 years of being a shareholder before becoming lucky: https://vimeo.com/1062974002/cffcbcce7f

I'm only looking forward to comments from Viking and SafetyInNumbers

Hope Under Armour isn’t another Reitmans (Reitmans、RW&CO、PENNINGTON)

Eurobank and Stelco come to my mind

would Seaspan be part of Engine 2 or Engine 3?

no mention of Seaspan?

3 streams of income just like Berkshire Hathaway: 1) insurance and reinsurance 2) investment 3) non-insurance

The table shows Mr. Market gives zero respect to the company with the highest ROE and lowest P/B & P/E among major P&C insurers, right?