gfp

As I understand it, what is new is the announcement that Fairfax will participate in the company's repurchase activity by selling pro-rata directly to the company so it doesn't continually bump into the 33% threshold, sell in the open market, repeat

Because Fairfax isn't allowed to own more than 33% of Eurobank

It's not crazy - they are pissed. Sounded to me like the whole country was basically united around the issue. Is isn't tariffs really, but all that talk about Canada becoming a state and calling their leaders "governor" and that sort of thing

Oh right, "buy Canadian" ! My friends in Victoria won't even eat New Orleans foodstuffs anymore - total boycott

These youngsters forget that Fairfax used to have listed options! Imagine how the old 'annual performance' thread would have looked lately if we still had call options and LEAPS calls available on Fairfax. Viking would be posting from his G650!

I did see this on my feed - https://www.sec.gov/Archives/edgar/data/1691303/000141588925014472/xslF345X05/form4-05232025_080538.xml

Focus on becoming a better investor instead - don't waste your youth

Not to mention, my USD fairfax went up 1% today while my CAD fairfax was flat at the close and down most of the day. I feel rich already

I really don't care for the guy but I think you just need to meet more people if the above is true. There are smart people with well reasoned opinions on all sides of the political spectrum - even some "democrats"!

I had you pegged for a Harry Browne / Ron Paul guy! I guess republican is as close as you get these days

There are some wacky newcomers in this stock. They go bananas for it at 18.50 one day and hate it at 17.30 a couple days later. Airport! IDBI! Panic! Repeat!

Is that the guy from Correios de Portugal? I love that guy - made a fortune two separate times on that 500 year old company!

I guess it's page 169? It lists the sale of T Mobile stock

One thing I have noticed lately is that 1) Millrose Properties did not show up at all in Berkshire's 13F despite them owning it at some point during the quarter (Lennar Spin-off). So they either sold it right away or are adding to it and requested confidentiality. I didn't see any sell transactions in the NAIC filing, so that seems to rule out a sale before quarter-end. And what I have noticed recently is a pretty steady stream of insider purchases of Millrose Properties stock. Maybe T or T read the Greenblatt book and likes the spinco https://www.dataroma.com/m/ins/ins.php?t=q&am=0&sym=MRP&o=fd&d=d

Fairfax is a holding company so they don’t get a FSR rating. Insurance subsidiaries get FSR ratings

Well if you really believe that social security won't be adequately providing for you in retirement, there is no time like the present to start buying attractive equities for the long term so you don't have to rely on the social safety net to fund your older years. Your biggest advantages are the amount of time you have in front of you to let your capital compound in attractive investments and the small size of your investable funds opening up everything but high net worth restricted products for you to consider for investment. You can buy tiny companies like Tim Eriksen, you can buy long term compounders like dealraker, you can trade around deep value situations like Sanjeev, you can buy undervalued trophy assets with long term inflation hedges built in like Greg. You could even stoop to the lazy level of buying 50% each in the two companies named in this website title and still have more than enough for your retirement as long as you get started while you are still very young. Don't squander your only two advantages. Time and size. Trust me, your experience level isn't one. Blake - it says you joined this forum in February 2023. The message board is all about Fairfax. We talk about it all the time. Over those years was Fairfax overvalued or unattractive to you for some reason?

And a couple fills on ZROZ as well

Ahhh the Wall Street Journal opinion page. Are we panicking about Social Security "running out of money" today Blake?

And tally sticks and later the split tally sticks that gave us our word “Stock” that we still use https://en.m.wikipedia.org/wiki/Tally_stick

And what makes eurodollar market size basically impossible to measure / track is that these synthetic USD instruments are extremely elastic - the growth and contraction of this part of USD "money" is not controlled by the US government or the Fed. Nobody I am aware of even attempts to track or measure the size anymore. The Fed gave up on their incomplete measurement many years ago.

+1 !!

There may be way more than 4 - I’m just not aware of them. I’m not gonna name them but yeah I think Fairfax and Fairfax India AGMs are really good. Maybe I have to bump it to 6

Yeah, I was referring to the entire company BNSF being distributed out of National Indemnity as a “dividend” to the owner. That was first revealed in the insurance filings.

It's nothing new, basically BNSF was a wholly owned subsidiary of National Indemnity. That is where Berkshire owned the BNI stock before the acquisition and that is where the acquisition lived after the deal closed. BNSF counted towards insurance regulatory capital for National Indemnity, but the figure was nothing close to BSNF's actual economic value. National Indemnity asked for permission to distribute its 100% ownership in BNSF to the Berkshire parent company (the Holding company) and did so on September 30, 2023. National Indemnity is extremely over-capitalized for the level of business they write (understatement) so the loss of BNSF did not come close impacting their ability to write business. When BNSF pays their quarterly distributions since 9/30/23, they land in the parent company instead of inside National Indemnity.

I'm not sure the insurance subsidiaries have any debt. They are generally capital providers (lenders, preferred stock purchasers, etc) to the non-insurance subsidiaries (Pilot, Lubrizol, BHE in the prior structure). Berkshire primarily issues guaranteed debt through Berkshire Hathaway Finance Corporation and the Berkshire Hathaway holding company itself.