gfp

perhaps ironically, the most likely thing to cause a downturn in the stock market would be a reduction of the deficit. Running a surplus would cause a depression.

BTW, I didn't know Fairfax owned 33% of the largest egg producer in Ukraine. https://interfax.com/newsroom/top-stories/104051/ https://open4business.com.ua/en/ovostar-owners-complete-squeeze-out-and-announce-delisting/

I found this in a Q3 Odyssey Re filing. Seems possible that Fairfax increased their ownership in AGT to 65.66%. AGT uses a lot of debt in their business and some of that debt does not show up on the consolidated financial statements because it is intercompany. Much like NICO at Berkshire. ("the Company" below is Odyssey. "Holdings" is Odyssey Group Holdings)

It would be consolidated, not equity method

https://www.eriksencapitalmgmt.com/investor-letters

How would that produce a profit on index inclusion?

No clue. The only news I could find today was the bond sale to finance part of the Sleep Country deal. https://www.bnnbloomberg.ca/investing/2024/11/19/sleep-country-mulls-potential-bond-sale-in-rare-leveraged-buyout/

Trump is going to be our hero to slay Biden's inflation by deporting our labor force! Except he probably won't because reality But Immigrants are committing crimes! And Teslas are crashing! omg omg (edit: sorry, forgot to credit wabuffo on the more accurate CPI chart above)

If you came to this country legally and you are working on top of a roof, something went terribly wrong for you. There is nothing special about the last 4 years - the border has been porous forever. All of my roofing labor is illegal, and none of them are recent arrivals. They have kids in school, their wives clean houses or sometimes work on the roofing crews (!) They are busy making America great. And their food is better

impressive! jk jk

I think there are some investors doing the 50% annually on tiny companies currently. This guy comes to mind: https://dirtcheapstocks.substack.com (this is a paid sub stack but the picks I have seen have been very good) - he is also on twitter. Also Tim Eriksen, who runs Cedar Creek Partners, will probably get close with his expert market stuff.

Those are the figures I was referring to but just sort of rounded them because I didn’t have the exact numbers in front of me.

I forget who, but someone here reads these. This is the Q3 NAIC report for National Indemnity. Definitely sounds like GUARD was the problem child during the quarter, as was pretty clear from the 10Q and mention of "new management." Sounds like about $500 million of negative development that GUARD had ceded to NICO, plus NICO sent $517m of capital (unaffiliated stock holdings) to GUARD to boost their capital. GUARD had been growing quickly for a decade or more. 20087.2024.P.Q3.P.O.3.4841235.pdf

"There is no second best. But if there was, it would be Fairfax and Berkshire... "

General Re 3rd quarter NAIC filing came out. No equity purchases in the quarter, not much of a surprise. Kind of cool to see Gen Re get $235 per share for an Apple sale on 7/15 (basically top ticked the year so far) - and the basis on that stock was $29.94 / sh. 22039.2024.P.Q3.P.O.3.4836600.pdf