ourkid8

Have you forgotten boots on the ground? With fairfax India fund, they have ICICI lombart and Thomas Cook management team to leverage. Now in regards to africa, the management team feels they have sufficient boots on the ground from their 100% owned S. African zurich insurance business to leverage. (I was born in east africa and fully understand you need to be there to understand the business climate.). On the positive, it's another source of revenue that will come in so a win/win for fairfax shareholders. When they launched Fairfax India, my observation was that the only real advantage for FFH is the opportunity to earn some management fees. So, like Fairfax India, this fund will be $1B, meaning that the investment fees would probably range from $10-20m per year (ie, a fee of 100-200 bps). It's a nice little addition, but I can't see it really moving the needle. SJ

Which liberal party is center-right? At the federal and provincial level they are all center-left. I would say the conservative are center-right.

http://www.fairfax.ca/news/press-releases/press-release-details/2016/Fairfax-Launches-C450-Million-Senior-Notes-Offering/default.aspx Preparing for an acquisition? Hmmm...

No offense to Sanjeev but are you kidding me? I can definitely understand FFH, MKL, BAM, BCE, JNJ, bud Enbridge etc but PDH has zero competitive advantage, significantly overvalued and has a lot of moonshot investments. I am a shareholder in the company but there is no way if I had to hold 1 stock for 15 years this should be on anyone's radar. For me, this is an investment in Sanjeev which is part of my overall portfolio and to-date has been very disappointing.

Couldn't agree more. Where does president elect get his facts from? Companies PR department will need to be on their game with trump.

Me neither. I cannot stand Harper but I voted Conservatives.

Well said! So far he has been a terrible PM who cannot keep his word.

+10, Couldn't agree more!!!!

None of us are certain however I strongly believe the HWIC team did not all of a sudden get stupid. I added to my position last week as well as this is a no brainer under book value however they have destroyed a significant amount of value through the hedges. I forgot to add, I hope they are repurchasing stock at these prices! You "think", but how do you know? I'd like to think the Blackberry investment was a learning experience as well (don't invest in a dying company because you want to save it because it is canadian and hires a lot from a college you like). I did purchase a little more last week (as well as MKL earlier this month, it doesn't have to be either/or), it seems cheap right now, but I still have questions about the strategy over all (which is probably why it is on sale).

I think the equity hedge was a learning experience which won't happen again, similar to the past when Fairfax used to buy low quality insurance companies.

I don't think there is any business that CAN be run by idiots however there are businesses currently/have been run by idiots. This is a useless thread as I highly doubt you understand the inner workings of any company.

Why don't you take a stab at putting one together?

Is it a bank holding company?

Yup, I am just waiting for Berkshire to announce they are acquiring KO.

I am waiting for a true elephant, ahem... KO! Yes, it would require significant leverage however with over $1.5B/month coming in and with Berkshire AA credit rating, it is attainable.

Guys, everyone is innocent until proven guilty. Let's not jump the gun.

What is significant? Couldn't agree more. Consider me a very happy investor in turds. All I am currently considering is resizing my position because it's significant.

I would love to see Berkshire truly bag an elephant, KO!

Exactly! http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-presentations#fbid=NbEpvogUuON reference: Second Quarter 2016 Earnings Presentation "Book value per share of $23.67 and tangible book value per share of $16.68 2 increased 8% and 11% from 2Q15"

TBV for BAC is not over $18. Once I read that, I closed the article.

I don't think this is correct.

Philip Morris International, Inc. and I fully agree with you on CNR.

We are becoming a global insurance powerhouse.

I prefer the old webbroker as well as the new one is very confusing!

Sanjeev, thanks for the update but the banner is still blocking.