ourkid8

Correct. ...not if you don't have a Globe and Mail account! I cannot read the article. So, the answer is no and never was on the TSX60?

A quick google search would provide your answer. https://www.theglobeandmail.com/globe-investor/investment-ideas/why-does-the-sptsx-60-exclude-some-of-canadas-biggest-stocks/article19057449/#:~:text=Twelve%20of%20the%2060%20biggest,company%20in%20the%20TSX%20composite.

ATCO. I strongly believe the market is not seeing the significant earnings/capital allocation happening in this company. Seaspan has a utilization of 98% and they continue to acquire ships at an ROE of 20%+. On the last earnings call, the CFO guided us that APR's utilization will be low 80's from mid 60's last quarter with the addition of Mexicali. If you also add the efficiencies that Atlas corp is driving in APR, this upcoming quarterly earnings should be pretty strong.

Cutting the dividend is definitely already priced into the stock. If there is irrational selling when the dividend cut is announced, that's a no brainer buying opportunity again. Continue to keep cash on hand.

Same, this is getting silly. I sold my cash account position in BAC and moved the funds into my registered RRSP account and bought WFC. I am getting tax benefits and a significantly cheaper stock. Let the good times roll :)

FFH is currently repurchasing shares at these prices however not at the same quantity. :) Don't hold your breath. They'd have had to have sold some of their big positions to do anything meaningful, and they have not mentioned doing so. As an aside, the Dundee/DPM transaction yesterday shows how they could, in theory, offload some of the big stakes if they wanted. Indeed Unrelated (and I know that it is impossible at the moment) but if FFH was able to buy back its share at 0.6 BV with the same total quantity that it issued shares ABOVE BV for the Allied World purchase in 2016 that would have been a quite a coup worthy of a song.

John Chen just purchased 50,000 shares @ $4.90 on Oct 9th. I just bought a large position in BB today as these prices are starting to get silly.

The insurance market is hardening, why would you want them to repurchase stock more aggressively? They did reduce the shares outstanding YoY by 2.5% while allowing their insurance subs to grow.

https://www.fairfax.ca/news/press-releases/press-release-details/2019/Fairfax-Sells-Its-Position-in-Reitmans/default.aspx They are tendering their stock at $3/share...

PDH earlier today at $0.025 :) - Thank you for the gift Sanjeev!!!

http://choufunds.com/pdf/AR%202018%20ENG.pdf

Dazel, $3B maybe too aggressive but let's use the numbers that Prem has provided to us in his annual letter as a starting point: A 15% return on equity implies earnings of approximately $2 billion, so paying approximately $300 million in dividends would leave us with $1.7 billion for stock buybacks and tuck-in acquisitions.

Anyone buying? I could not help myself today.

TSU

I really do not see FFH deploying much of their cash as I have highlighted previously, their focus is buying back their Subs and using FCF to buyback stock.

That's exactly what he wrote in last years annual report: We are focused on using our free cash flow to buy back stock so it is unlikely our dividend will be increased soon Henry Singleton, at Teledyne, reversed this trend, as you know, and over the next ten years we expect to do the same – use our free cash flow to buy back our shares!

I really like how businesses within the Fairfax umbrella are working together to reduce costs across their businesses. These investments are non material to Fairfax but it's great to see collaboration!

I do not want to sound like an ass but If you read the annual reports, you will have an understanding of the lack of growth in the past 5-7 years. Heck, if you follow the threads in the fairfax group it is also clearly mentioned. Please Spend a couple of hours to go through them and you will have a better understanding of the past and future opportunities.

I am dying to find out if they got more aggressive in buying back their stock during this selloff. Earlier today, I just bought a large slug of stock at usd$501. (I couldn't help myself) I am very very pleased they repurchased close to half a billion in stock in the last year. I definitely was not expecting that!!!

Fairfax India recently repurchased and cancelled 21,240 shares. Let the good times roll...

https://finance.yahoo.com/news/intention-normal-course-issuer-bid-113000070.html Under its existing normal course issuer bid, Fairfax has purchased 700,539 of its Subordinate Voting Shares, which included Subordinate Voting Shares reserved for share-based payment awards, through open market purchases on the TSX during the last twelve months at a weighted average price per share of Cdn.$667.29. Fairfax has not purchased any Preferred Shares under its existing normal course issuer bid. (Fairfax has spent $467,462,669.31 on share repurchases in the last year)

Don't forget, you also need to account for their consolidated positions on their balance sheet. As of Dec 31, 2017 we were sitting on an unrealized gain of $1.233B. If you factor it in, the book value multiple looks even better! :)

Fairfax repurchased 15, 318 shares @ $712.74 on Aug 7th. At the current price, let's hope Fairfax starts to get aggressive to bring down the share count.

What is the price to book? Sorry, i cannot say if it is on sale or not until we understand the multiple.

Are you guys buying in USD or CAD? Stock is selling for CAD$685.90 which is USD$521.02 however the US listed stock is trading for $527.07. Am I missing something why it is selling above the FX rate?