berkshiremystery
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Posts posted by berkshiremystery
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Just want to say Merry Christmas to all - your discussions this past few years have been tremendous in helping me achieve my financial goals. Market is truly inefficient else we wouldn't have seen -900 the night Trump got elected and then the rally over the last few months. Glad to be one of the value investors and hopefully 2017 will bring many more interesting opportunities for all.
Cheers
Gary
Hey,... Gary,... if you are in the Merry Christmas singing mood, you might want to watch some funny Christmas Parody....
Beware!!! It might be too naughty to watch,... ::)
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Some unusual new Christmas Gift from Fairfax,...
Fairfax Africa Holdings Corp. - Preliminary Prospectus / IPO
Cheers!!
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https://mobile.twitter.com/FFH_TO/
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http://www.pressreader.com/canada/the-globe-and-mail-ottawaquebec-edition/20161223/281754153977995
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https://cancompany.org/co/fairfax-africa-holdings-corporation
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If Prem is paying 1.3x BVPS to acquire Allied, he probably thinks Allied's FV is higher.
If he were signaling that FFH is not cheap, it would mean that he thinks FFH's opportunities for BVPS growth going forward are much smaller than Allied's.
I don't think that is the case. Imo it is still more of the same: Prem wants to keep the flexibility that cash gives him.
As for why now, maybe Viking is right... or maybe simply because Allied's management was not willing to sell the company while its stock was too cheap...
Cheers,
Gio
To me it seems like a reasonable purchase price,... seems they are paying 10x for 2014 earnings, 12x for 2013 earnings.
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Will he join with the Secretary of Agriculture to build pyramids to store our grain?
Nope,.. very simple,... only as secretary of "Department of Housing and Urban Development" (HUD), an unconventional choice that underscores Trump’s willingness to forgo traditional policy expertise.
Ben Carson has some remarkable personal life biography, pulling himself out of a bad childhood and improving himself to some decent and humble human being. I give him credit for this.
You might want to peak into Ben Carson's books.
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Ben Carson grew up in the inner cities of Boston and Detroit with his mother and brother. When his father deserted the family, Ben’s mother worked several jobs to support her boys yet worked even harder to encourage them to get an education and follow their dreams. Ben’s dreams nearly ended when his anger at being poor and the ridicule of a school mate caused him to snap; he lunged at the boy and cut him with a knife. That brush with attempted murder caused Carson to break down and ask God to turn him around. And turn him around he did. A poor student, Carson under the guidance of his mother and brother became the best student in his class, his school, and ultimately earned a scholarship to Yale. The next time he used a knife was as a neurosurgeon at Johns Hopkins Hospital where he pioneered surgery techniques that not only saved lives but miraculously gave countless children an amazing quality of life.
My Life: Based on the Book Gifted Hands
https://www.amazon.com/My-Life-Based-Gifted-Hands/dp/0310344514/
One Nation: What We Can All Do to Save America's Future
https://www.amazon.com/One-Nation-What-Americas-Future/dp/1595231226
A More Perfect Union: What We the People Can Do to Reclaim Our Constitutional Liberties
https://www.amazon.com/More-Perfect-Union-Constitutional-Liberties/dp/1591848040/
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Finally,... Dr. Ben Carson joins Trump as secretary of the Department of Housing and Urban Development (HUD).
I was waiting to see Ben Carson to get a possition in the new administration.
Cheeers!
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Trump Nominates Ben Carson to Head HUD
FOX News (Dec. 5th, 2016)
http://www.foxbusiness.com/markets/2016/12/05/trump-nominates-ben-carson-to-head-hud.html
Donald Trump names Ben Carson for housing and urban development secretary
CBS News
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Dr. Ben Carson | Full Speech | 2016 Republican National Convention
@YouTube (7:47 min)
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Donald Trump visits Ben Carson's childhood home
CNN@YouTube (2:21 min)
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Trump Visits Ben Carson's Detroit Neighborhome
AP@YouTube (1:53 min)
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Here's the full interview with Mohnish Pabrai @YouTube:
Punita Kumar Sinha In Conversation With Mohnish Pabrai | Global Insights
Published on Nov 17, 2016Not a fan of candidate Trump, but a fan of President-elect Trump; Trump win is the best possible medicine for US economy, says Mohnish Pabrai - Managing Partner Pabrai Investment Funds in an exclusive conversation with Punita Kumar Sinha of Pacific Paradigm Advisors in this edition of Global Insights on ET NOW. Listen in.
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Some unconventional surprise and endorsement, Mohnish Pabrai likes "President elect" Trump !!!
Like it or don't like it,... but I sense Mohnish's courageous thoughts are well reasoned.
Cheers!!!
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Trump may be the very best thing that happened to the US and the world: Mohnish Pabrai, Investor & Philanthropist
--> Mohnish says President-Elect Trump understands quite a bit about the way business and the economy works. He is definitely better than presidents who have never run a lemonade stand in their lives.
--> I was not much of a fan of candidate Trump, I am a bigger fan of president-elect Trump. This is a global phenomenon.
--> Though I did not vote for him, as I analyse the way info is unfolding, I believe Trump election may be the very best thing that happened to the US and the world
Full Article ==>>
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Trump nixes Presidential salary from $400,000 to symbolic $1.
Cheers!
Trump nixes presidential salary, may spend time in New York, Florida
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Some news about Eurolife....
Ο κ.Mr . V. Prem Watsa to new offices Eurolife ERB group
v. Prem Watsa στα νέα γραφεία του ομίλου Eurolife ERB
http://www.sofokleousin.gr/archives/280647.html
You have to run the page through Google Translate....
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The pre-dinner meeting on April 15th is in Salon 1 of the Fairmont Royal York on the 19th Floor from 3pm to 6pm with free refreshments for everyone.
Cheers!
Hey, Sanjeev:
Is that a typo you had there, free refreshments for everyone? ;D
Soon it will be free parking once we have $2,000 per share! LOL :)
Yeah, it's just water, soft drinks and glasses full of ice. Just so people can mingle and relax between George's conference and our dinner.
Feel free to donate to CCC if you would like, but I am covering this cost. Cheers!
Buffett_groupie,...
where have you been at Mungers meeting. I had expected our No. 1 groupie there. ;D
I'm currently at Yong Street,... having a coffee. :)
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I'm not fully sure,... but Spiers might finally come to the Fairfax events this year in Toronto. I remember him saying something at the DJCO AGM last Wednesday, after the AGM was over and he walked out of the building. Anyway,... I'm not fully positive, so I let myself get surprised, if he shows up in Toronto. Cheers!
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Book value per basic share increased to $394.83 at December 31, 2014 from $339.00 at December 31, 2013 (an increase of 19.5% adjusted for the $10 per common share dividend paid in the first quarter of 2014).
Best results in 29-year history!
The yearly results are looking decently good,... anyway,... the first 3 quarters were already known,... Cheers! ;D
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Fairfax Eastern Europe buys Czech, Hungarian & Slovakian Insurers. The operations generated over US$40 million in profitable gross written premiums in a range of general insurance classes, including property, travel, general liability and product protection.
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I might bump up an old thread from last year about EL Financial.
Cheers!
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Hi guys! I know a lot of you will attend the FFH dinner next week, and the AGM the next day. I will be there too. Therefore, I asked myself: how shall I recognize you? After all, we constantly exchange our views on business and other matters, but we have never seen each other…
My solution: I will be recognized instead! I attach a recent picture of mine, so that you might recognize Gio at once! ;)
I look forward to having a great time with you all in Toronto! :)
Cheers,
Gio
PS
Sanjeev, tell me that I can take a picture with you, Mr. Watsa, and Mr. Pabrai next week… three great value investors and a fan!! ;D ;D
Gio,...
we might recognize you better, if you come with a giant Italian flag. ;D
Ahhh,... a small one attached to you might also do it. But beware someone might ask you where you left the pepperoni pizza,... ;)
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Hi Folks,
We are getting to the finish line here on tickets! A maximum of 140 tickets this year. I will not be able to provide anyone with last minute dinner tickets or presentation seating this year, as we have limited space and the room will not be able to accommodate any more than that without making viewing for other patrons uncomfortable. If you plan on attending, even as a late straggler when Prem gets there, I recommend a ticket, as there will not be much standing room with Fairfax's guests there. Cheers!
2014 Fairfax Financial Shareholder’s Dinner
The Fairfax Financial Shareholder’s Dinner we hold each year, is set for April 8, 2014 at the Fairmont Royal York
in Toronto. We’ve always enjoyed support from Fairfax, and our last dinner was completely ridiculous, as Fairfax
CEO Prem Watsa brought along 15 other executives, managers and CEO’s with him.
The dinner is held in memory of JoAnn Butler, who was Prem Watsa’s executive assistant for many years. JoAnn
passed away on May 12, 2009 from colon cancer, and she was instrumental in the success of our dinners each year.
We raised almost $20,000 for “The Crohn’s & Colitis Foundation of Canada” in JoAnn’s memory last April.
Fairfax Financial Shareholder’s Dinner
Upper Canada Room - 18th Floor
Tuesday April 8, 2014
Fairmont Royal York
100 Front Street West
Toronto, Ontario
(416)368-2511
Tickets are available directly if you scroll down the left side of the “Corner of Berkshire & Fairfax” website homepage at:
www.cornerofberkshireandfairfax.ca
Prices are the same as last year.
- $75 for presentation only, and free water, coffee, tea, as well as available cash bar.
- $150 for dinner and presentation.
We have a limit of only 140 tickets this year, as the Fairmont Royal York did not have a lot of room available.
So get your tickets early, as we will definitely be sold out pretty soon.
If anyone is interested in corporate sponsorship of prizes, or any donors for prizes, please contact me at cornerofberkshireandfairfax@gmail.com.
Thanks very much!
Hey Sanjeev,
I was just wondering what time the dinner starts? It doesn't seem to be indicated in the above but I remember 6:30 pm from some thread somewhere. Does it start at 6:30?
Mungerville,...
You might want to look at this message thread:
2014 Fairfax Financial Shareholder’s Dinner
the shareholders dinner starts at something around ~6:30pm
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Sanjeev, question for you. If we wanted to donate money either to the website or to the chrones foundation, which would you to prefer?
Also, if we want to catch most events, do we have a definite list for which days to come/go yet?
Either is fine with me of course, but if you donate directly to the CCFC (www.ccfc.ca), you will get a nice tax receipt!
Yes, events are pretty much set:
Monday, April 7th
6pm or so - Ben Graham Dinner - Location to be announced
Tuesday, April 8th
9am - 4pm - Ben Graham School Value Investing Conference - Fairmont Royal York
3pm - 6pm - Norm's Pre-Dinner Mix - Fairmont Royal York Railcar Bar
6:30pm - 11pm - Fairfax Financial Shareholder's Dinner - Fairmont Royal York Upper Canada Room
Wednesday, April 9th
9am - 1pm - Fairfax Financial Annual General Meeting - Roy Thomson Hall
1:30pm - 5pm - MPIC Funds Annual General Meeting - Roy Thomson Hall Pickering/Green Rooms
Cheers!
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Right on. Reding my post back, it was unnecessarily negative. I apologize Marlin. I didn't know the history.
DCG,...
to put it politely,... Marlin is one of the leading secret gang members of the original BRK'ers. Buffett knows him.
http://s11.postimg.org/cl2id3xsz/image.jpg
http://s27.postimg.org/4f2pjn377/image.jpg
http://s9.postimg.org/lvc1unnqn/image.jpg
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I'm still well & alive,... just lurking :)
Here are some introduction videos from Mohnish about Dhandho Hldgs!
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Anyone know the date for the 2014 meeting?
Please someone correct me if I'm wrong, but it should be usually the first Wednesday in February.
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Hi guys! This has nothing to do with investments… But in time I have come to reckon all of you on the board truly as “second family”… and now I need some words of wisdom from you!
Tonight I am dating a woman for the first time in… years!! And right now I am simply… terrified!! ;D ;D ;D
I guess I need a little help from my friends! :)
Cheers,
giofranchi
Just be yourself,...
it's nice to be important,... but it's more important to be nice.
...and ignore the crowd,... in the restaurant. :)
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I just have to gawk at some opinions. It might not make sense for shareholders/owners that are concerned about dilution percentage wise relative to their stakes in FFH. BUT Fairfax sells their newly issued shares extremely above book value, and THIS is what's counts, so mathematically it makes pure sense. It's the real thing. Like it or don't like it, but it makes pure logical sense to me if someone thinks about this non-linear on different scales. ;D
+1
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Some updates about SAC...
$ 5 Billion Protective Order
DOJ’S PURSUIT OF HEDGE FUND SAC RAISES INTERESTING LEGAL ISSUES, EXPERT SAYS
SAN FRANCISCO–The Department of Justice’s recent indictment of SAC Capital Advisors LP and its separate action seeking civil forfeiture are based on “very unusual facts,” and raise interesting legal questions, Stanford law professor Joseph Grundfest said Aug. 11.
POTENTIAL SETTLEMENT TERMS
The $5 billion amount is a “public disclosure” of what the government wants in this case, Grundfest said. “You can smell the dimensions” of a potential settlement from the protective order: forfeiture in an amount less than $5 billion, an agreement from SAC to put a monitor in place, and perhaps negotiation on whether to limit SAC founder Steven Cohen’s participation in the securities industry, he said. “You can see the parameters of how this case might settle.”
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Facing Loss of Capital, SAC Is Said to Talk of Layoffs
2013-08-09 NYTimes
http://dealbook.nytimes.com/2013/08/09/sac-to-keep-managing-money-while-facing-indictment/
For now, SAC can continue operating under the terms of the deal struck this week with prosecutors. Called a protective order, the deal says that SAC must maintain a certain percentage of its assets across its various funds, an amount that equals about $5 billion, according to a person briefed on the case. If assets fall below that threshold, SAC must replenish them by the next month.
Judge Richard J. Sullivan of Federal District Court in Manhattan signed off on the order, which was intensely negotiated by SAC’s legal team and government lawyers since the indictment.
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SAC Capital Closes a Trading Unit as It Starts to Retrench
2013-08-12 NYTimes
http://dealbook.nytimes.com/2013/08/12/sac-capital-closes-a-trading-unit/
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SAC Shrinks U.S. Stock Holdings by $2 Billion Amid Probe
2013-08-15 Bloomberg
http://www.bloomberg.com/news/2013-08-15/sac-shrinks-u-s-stock-holdings-by-2-billion-amid-probe.html
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I can't, really. I don't know of any. Canada is a very small place.
To keep up with analysis of Canadian ongoings, I read various annual reports, blogs, institutional reports and letters to investors. There are some decent people to follow on twitter too, but not too many.
Fair enough, I appreciate the insights.
"Canada is a very small place" - also had a little chuckle at this! ;D
That is what I would call a modest answer,... ::)
They have a decent population number with some very huge land mass... LOL ;D
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>:(
Love the new design great job. Other day I heard someone say Corner of Berkshire is better than VIC, and I could not agree more. Keep up the great work.
Indy,...
I wish that this wouldn't hear too many people. ::)
Sanj,...
Marvelous new homepage,... specially the new introduction of the history of the board. So newbies aren't confused or scared of these fanatics here,... LOL : ;D
Fairfax to acquire a bank in India
in Fairfax Financial
Posted
Fairfax Financial first to win approval to buy majority stake in Indian bank.
Cheers!
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http://www.theglobeandmail.com/report-on-business/fairfax-gains-approval-to-buy-51-stake-in-indian-lender/article33453235/
http://business.financialpost.com/news/fp-street/fairfax-financial-first-to-win-approval-to-buy-majority-stake-in-indian-bank
http://www.financialexpress.com/industry/banking-finance/rbi-lets-watsas-fairfax-to-buy-51-in-catholic-syrian-bank/491664/
http://www.nasdaq.com/article/fairfax-financial-holdings-to-acquire-51-stake-in-catholic-syrian-bank-20161230-00059