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Partner24

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  1. Thanks for the suggestions! I agree that GHC track record over the last years is not appealing. Volvere so far seems like an interesting company. A small business with interesting potential. Management seems to be disciplined with their capital allocation decisions. Seems more like a Leucadia kind of thing (but underperforming assets, turnaround, etc.). And when the stock get low, they buyback some shares. Regarding size, I prefer when the size is small or medium. Big size companies has to shoot elephants, they need big things to move the needle and it's difficult. In this big size category, Berkshire is great! Danaher, what a dumb decision from me. I studied it years ago and did not invested in it. It's been a big multibagger since then.
  2. Hi, It's been a while since I've posted! My portfolio is very quiet..I just hold 4 conglomerate stocks and that's it. One of them was managed by the South African Brian Joffe, one of the best investors of our times (what he has done with Bidvest is terrific). He's been the CEO of Long4life since a few years, what he has done instrinsicaly is very good, but the stock price has not reflected that. And unfortunately, it's gonna be sold and unlisted. The others conglomerate stocks that I own are Berkshire, Markel and Clarke, wich I will keep. I would like to have some of your similar ideas. Great investors who manage a conglomerate and who have a great track record. That manage the business for the long term intrinsic value per share gain. I'm looking forward to replace Long4life with one or two conglomerate stocks. Your ideas will be much appreciated. Cheers!
  3. Regarding FFH, I do not keep myself informed about it anymore, so I will not start a new poll. But feel free to do so. Cheers!
  4. Sad indeed. Lesson learned about how we can sometimes be over-optimistic about value investors. And how FFH team was too scared about macro stuff for too long.
  5. We're 10 years later now and it's time to use your calculator! ;-) Cheers!
  6. It looks like the Eye of Sauron ;-)
  7. Since I don't have a lot of time to spend on analyzing individual businesses, I generaly buy good diversified conglomerates managed by disciplined capital allocators. Stocks like Markel, Clarke, Long4life, etc. If you have some names to share, it would be much appreciated. Ideally businesses that are not too big so they still have large opportunities to expand. Thank you!
  8. Reports about coyotes in Montreal recently. One of them being sick likely attacked a small dog recently: http://www.lapresse.ca/actualites/grand-montreal/201805/02/01-5168730-un-coyote-attaque-un-chien-dans-ahuntsic-cartierville.php (in French). Cheers!
  9. Good to see the candor. We're all humans. It can be tough for anybody sometimes and when someone has no candor, even in tough times, it makes me feel suspicious. Cheers!
  10. Very interesting list. Thanks! I'm actually hesitating between Clarke and Judge Scientific. If you have other ideas, they are very welcome! Cheers!
  11. Do you know some small to mid-sized holding companies that are managed by good value investors? Thanks!
  12. You've done a great job Dazel and this board have done a great cheerfulness job over the years, especialy when FFH was in their bad years (Peter Eavis, naked shorts, reserves development, bad combined ratios, stock issues, etc.). Now FFH management has less support, and frankly it's well deserved. They get the reaction from their own behavior. It's more difficult to evaluate the intrinsic value of a business when you see both talk and walk changing like that, when you don't know when the top management will dilute your voting (even if shareholders say no the first time), and when you feel that the top management act more like sellers than business partners on the conference calls.
  13. With Markel, what you see is what you get. Very straightforward people. Their plan is clear and they walk the talk. With FFH, you get a "Oh, Trump is elected now" kind of line for billions of dollars lost. Huge...huge lack of candor. Remember the "we prefer to be wrong wrong...right than to be right right...wrong" kind of line that we heard for years? What a joke. Finally, it was "wrong...wrong...oh ok Trump!" kind of line. Markel was more like "we don't play that game...we don't play that game...we still don't play that game" kind of line.
  14. History repeating itself. Human nature at work.
  15. They roamed around Earth until they discovered our stock markets and realized there wasn't any intelligent life here. My guess they left in 1999. Ahahahahah ;)
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