ourkid8

CEO of CP Rail - Hunter Harrison. He turned around CN Rail to become the most efficient Class I railroads and was later poached by Bill Ackman to run CP Rail and he is doing it again. (As a CN Rail shareholder I was pissed but he is an icon in the business) Thanks, S

Yup, but IBM is currently in transition similar to DELL and to get out of the limelight by going private would be extremely valuable for the transition to make large moves under the cover of Berkshire. Buffett's cash position is growing day by day and he would love to bag an elephant and this is one BIG elephant. Berkshire is IBM's largest shareholder and he continues to add aggressively at around this price. At the same time, IBM is repurchasing stock at a slower clip then before but this continuing to increase Buffett's ownership in the company. There is always the off beat chance a PE firm comes knocking due to the poor stock performance and Ginni will have no choice but to call buffett. We can always pray! :)

Agreed. Does anyone think Buffett will try to take IBM private? Tks, S

If we look at the portfolio Charlie is managing @ Daily Journal Corp, it is extremely concentrated: WFC - 67% BAC - 28% USB - 5% In regards to Berkshire, size is the 'only' reason IMO they are diversified. Tks, S Easy to say, hard to do I would think... Last I looked he was invested in insurance, newspapers, utilities, railroads, a million kinds of manufacturing, another million kinds of junk food, and another 40 or 50 assorted service and retail businesses. Don't you think that's because of the size problem they have at this point? I believe there were times in his career that Charlie Munger was pretty concentrated. At some point, for an arbitrage opportunity, he invested all his money into one name only even...

PMI - Louis C. Camilleri who is the chairman of the Board. He is by far the most knowledgeable tobacco exec period and absolutely committed to creating shareholder value.

ah... Thanks!

Would you be able to post the article or send me the article in a PM? I do not have a subscription... Thanks, S

I do not think a lot of thought was used before he made that comment. Look at Philip Morris international, they can borrow at 2-4% and retire shares with almost a 5% yield. - Absolute no brainer! Tks, S

What do you think of AIG? Peter Hancock is slowly cutting cost and improving CR. While the stock is depressed, they are repurchasing stock hand over fist which is creating tremendous shareholder value. Tks, S

This thread should be moved to the events & meeting notes section. Sanjeev, would you please move? Tks, S

It represents 15% of my overall portfolio - I was surprised how large it was! Thanks for your feedback, I am leaning towards transferring the funds into a LIRA but going to contact HR to inquire about the points mentioned by Manulife. If there is a market sell-off, this cash would be handy to purchase high quality companies. Thanks team! tks, S

Thanks, the manulife document was great. Let me do a bit of research. Tks, S

Hey all, I need some advice from what other astute individuals have done. I just left a company in Canada with a defined benefits plan which I have worked and contributed for about 10 years. (I am 33 years old) I just received my pension statement with 3 options: 1. Start drawing on a pension - I don't require the money yet 2. Leave it with the company (based on actuarial assumptions they expect 1.9% return for 10 years and then 3.4% whiich IMO seems very low) 3. Move it into a LIRA and I manage it myself What have others done as I assume others have been in similar situations and do you have any recommendations? Any advice would be greatly recommended. Thanks, S

Another wonderful investment for Fairfax! (they hold a 78% position in the company) Ridley Inc. (RCL.TO) and a subsidiary of Alltech, Inc. ("Alltech") announced today that they have entered into a definitive agreement that provides for the acquisition of Ridley by Alltech for CAD $40.75 per share. The total consideration payable to Ridley shareholders is approximately CAD $521 million. The price of CAD $40.75 per share represents a premium of approximately 23% to the 20-day volume weighted average price of Ridley's common shares on the TSX as of April 22, 2015. The closing price of the Ridley shares on the TSX on April 22, 2015 was CAD $33.94.

Great article, http://www.usatoday.com/story/money/business/2015/04/11/cigarettes-and-marijuana/70746772/ Tks, S

Wonderful start of trading for the CARA IPO. Great job Fairfax on this investment! Tks, S

Approx. 250% over the past 18 months is a good investment and not amazing? I would love to hear your portfolio returns! Tks, S

Does anyone know how I can receive a hard-copy of the annual report? It was not included as part of my proxy material I received in the mail... :-( (I have been a long term shareholder and I keep each copy in my library) Does anyone have investor relations or anyone's email address I can email at Fairfax? Thanks, S

1% cash but continue to reduce leverage across my portfolio (paying down investment debt and selling leaps). There is just so many opportunities, I am shocked by how individuals can be in 50%+ cash!!! Tks, S

Is anyone surprised by the lack of M&A in the O&G sector? Due to the collapse in prices, this would be an opportune time to pick up the weaker players... tks, s

http://www.cbc.ca/news/business/cara-operations-owner-of-swiss-chalet-harvey-s-milestones-plans-ipo-1.2956446

+1

Special thanks goes out to Andrew Barnard for the superb underwriting results! Tks, S Definitely! Q4 underwriting results are even better than overall 2014 results, which are better than 2013 results, which were considered an outlier at the time! If something goes wrong, even if only for a couple of years, Fairfax will have many ways to make money, beginning with their insurance operations that are becoming more and more reliable and profitable. Cheers, Gio

Agreed. Leveraged companies will at a minimum need to hedge their production 1-2 years out to ensure they get adequate funding or be able to trade at a certain multiple. (Very similar to how banks need to show they have adequate capital) I was always under the impression that Sandridge was hedged which is why i did not initially understand how the stock collapsed but that is because I did not understand how a 3 way collar worked unfortunately. A huge error on my part and a lesson learned. Tks, S

I strongly believe that's what SA and other nations are currently doing thus further flooding the market pushing down prices. From what I read, OPEC controls 40% of the global oil production so let's hope the remaining 60% are cutting production/Capex to help stabilize the price. (I hold Sandridge and currently getting smoked) Tks, S