ourkid8

Shares outstanding: 2019: 26,901 2020: 26,447 Q2 2021: 25,986 As Viking mentioned, Fairfax clearly laid out a plan for their use of Cash and by end of the fiscal year the shares outstanding will be lower than it is as of Q2 2021.

I am pro management looking to save costs by avoiding a NYSE listing. If it stays depressed by 5-10%, that is a BONUS and allows management to repurchase stock at a better price which is better for long term shareholders.

https://www.fairfax.ca/news/press-releases/press-release-details/2009/Fairfax-Voluntarily-Delisting-From-NYSE/default.aspx “After our recent privatization of Odyssey Re, Fairfax now wholly owns all of its primary businesses and is the largest property and casualty insurance company based in Canada, with worldwide operations in over 50 countries,” said Prem Watsa, Chairman and CEO. “While our decentralized operations have global reach, after reviewing the factors relevant to our continued listing on the NYSE, we determined that our company and its shareholders will be better served by the simplified focus and lower cost resulting from the maintenance of only our original TSX listing. In recent years, as markets have become significantly more global and liquid, our constituents, including shareholders and employees, no longer require multiple listings. The voluntary delisting will have no impact on our ongoing strategic and operating philosophy nor on our very substantial presence in the United States and our presence in the other global markets in which we operate.”

https://www.bnnbloomberg.ca/mcewan-files-for-ccaa-after-restaurant-grocery-business-suffers-liquidity-crisis-1.1661478 It's a small investment for Fairfax but unfortunately went to $0 due to COVID As part of its restructuring efforts, the company entered into a purchase agreement with Fairfax Financial Holdings Ltd. and McEwan himself to re-buy the business under a new numbered company 2864785 Ontario Corp. which will retain its staff of 268 employees while reducing lease obligations with a fewer amount of grocery and restaurant locations. The court has yet to approve the sale of the company to 2864785 Ontario Corp.

I just did the same trade by eliminating my WFC position and put it into FFH.

I just sold SmartCentres after a 20% gain and put the proceeds into FFH.

CN Rail is trying to acquire KSU so this may force the STB to decline CN Rail's request for a voting trust

Additional BABA

Additional BABA

We also cannot forget (The emoji of the diamond is a bit weak though...lol)

There is now rocket ship emoji's ... lol Congrats Sanjeev on the new site!!!!

I just added to my BABA position as well...

On Feb 17, Fairfax repurchased 89,923 shares for cancellation at $526.40... Come on Prem, keep on going!!!!

Purchased BABA yesterday

What company was a 7 banger which went to 0? The fundamentals must have changed. On trimming winners. I’ve struggled with it. I’ve left a lot of money selling early. I’m going to try letting winners ride this year Well if it makes you feel any better, I've lost a lot of money holding on too long lol... a 7 bagger to 0, and a 5 bagger to a 70% loss in the past couple years. I'd rather regret squeezing another 20% of juice out of these investments if I had the choice.

I totally disagree, you should only sell when the fundamentals change. If the business continues to strengthen it's moat and it's fundamentals keep on increasing, why would you sell? I have held CN Rail for well over a decade and plan to hold it for the rest of my life.

My guess is FB due to valuation.

Based on John Chen's compensation package, I doubt he will dilute shareholders as his goal is to get this stock in the USD$30 range.

Trading at 0.77x book and ~1x TBV, $8B cost cutting initiative to reduce non interest expense by 14% (I wish this was larger but additional efficiencies will be found), Selling-off non core divisions and continuing to improve it's risk control which will in turn ensure the asset cap is lifted. While all this is happening, all the excess capital will be soaked up by share repurchases and they are authorized to repurchase 667M shares. Their medium term goal is a 10% ROTCE and 15% long term. What is really not to like? I currently own 3 out of 5 of those and I'm thinking of getting back into Fairfax. I sold Wells Fargo last year, I'm interested in why you think it belongs on this list with the others?

I cannot pick only one but my top pics right now are Atlas Corp, Fairfax, Facebook, Wells Fargo and Trisura.

I think I agree with you as well :'(

I am pretty much out of PDH and sold the remaining earlier this week. I did roll the cash into FFH and will enjoy the ride up as this Q will be incredible and the moves in BB has not been reflected in the stock yet! PDH has been a terrible investment and a learning experience.

Maybe :) hahahha -kidding! I am dying for the FFH conference call to see how Prem capitalized on this Casino. Is this you Prem? ;D

Liquidated my BB holdings at $27.50 with a cost basis of $5.89. What an amazing ride and thank you WSB!!!

The only thing missing is a few rocket ship emojis at the end and it’s perfect :) Hopefully, in the annual letter Prem will write, "FFH owned BB for 10 years and was able to exit its position with a considerable profit. Given the time that FFH held the shares, the gains were not outstanding, but it is nonetheless a profitable exit. In the future, we endeavour to focus more intently on risk management, particularly as it relates to our management team's circle of competence and to better consider the importance of position-sizing when we select our investments. BB will not go down as an epic success for FFH, but it has been a valuable learning experience." SJ Ha - I think we can do better than that! Our investment in Blackberry came to life in the quarter. We bought it for the wrong reasons and the time taken to turn the business around has crushed our IRR. Lesson learned. However, we do at least have a significant gain in absolute terms which we do not want to give up. Looking forward, Blackberry has two shots on goal. Either of QNX or IVY could become leading subscription products in connected cars, a market with a huge TAM. We do not know whether Blackberry will achieve this goal, or when, but the upside over the next 10 years could theoretically be transformational for Fairfax if it does. To balance these risks we have entered into a short position that protects us should Blackberry shares fall to price X. One benefit of this short position may not be immediately obvious, other than to long term followers of Fairfax. Almost everything we short goes straight up!!! We work hard to ensure the success of our investments, and by shorting Blackberry we have all but guaranteed that it is going to the moon.