This2ShallPass

Exact feelings I have:)

@SafetyinNumbers any particular reason for ELF dropping 15% in the last few months? My cash position is building up and this would be on my shortlist.

Which of the pfds will have higher value? I thought all of them will trade close with only small differences.

CoBF does not (really) like Pabrai, Ackman, Malone etc Do you know how much was the underperformance in 20 years? I know he underperformed the last 5 or 6 years.

The eventual release language should be really positive for the junior preferred correct? Surprised they didn't move lot higher on the news but common did. Is there a scenario where junior pfd gets paid less than par and common still has value?

I don't think this is the reason, he's trailing s&p by a wide margin this year and few basis points is not going to help. Also, he has beaten s&p in last 5 years by a good margin which should be enough. The tweet was likely aimed at Trump, telling him he could make the biggest deal. That would definitely get his attention..

I don't think he reported common. But in one of the presentations, he had shown % ownership of Fannie and freddie and from there I calculated how many shares he might have. That's just an estimate by me.

That might be it, because I didn't see him owning preferreds in their latest release. I tried to calculate his ownership, looks like he has 43M of Fannie common and 50M shares of Freddie.

I said young(er) I'm with @Blugolds, 60 is ok in investing. Not giving money to a 30 yr old with no track record..

I'm also interested in this. Who are the best young(er) investors? Someone who can compound at good rates for the next decade or two? I'm trying a new approach, want to allocate a small % to these investors. Every year if they beat my performance, I plan on allocating more to them. If they underperform for 3 years, they're out. Currently I have 1. Mohnish (invested in Jan'24) - I like the exposure to markets / companies that I typically don't get. He has underperformed recently, so this is a watch. 2. Ackman - Thinking of starting now. His holdings all look pretty solid (don't see any blowup potential or controversial holdings). Like the recent bet on Nike. Fannie / Freddie are wildcards,

Treasury preferred $190B Other preferred $35B + capital requirements Cash on hand $125B (will be $200B start of '27 as per cbo) How do you cover the shortfall if you are Ackman, issue debt? He's a pretty smart guy who is not going to miss on something as simple as this. Is there any proposal out there from him?

Good report, CBO seems to be positive on the GSEs becoming private. They say new equity needs to be issued. Scenario being analyzed (seems like base case) is 4.5% total value of assets (FHFAs risk based capital requirements), 10% return on capital (expected investor return), 4% growth (GSEs annual earnings) Start of 2027 capital needed = $370B Cash by start of 2027 = $208B Shortfall = $162B They say this shortfall needs to be covered by sale of equity. I assume this is new equity being issued? Current common is valued at $6B. So, when new equity is issued current common will be significantly diluted . What does Ackman see in owning common? In the above scenario, preferred (valued at $35B) will be fully paid. So a 2.5x return from here in another 2 years.

Thanks wondering. Investing in Africa now might pay dividends 5-10 years later. Do you have any thoughts on the companies they are investing in, are they high quality? Do they have any crown jewel kind of investments? I'll also do my research but wanted to get your take.

Curious if anyone has taken a look at Fairfax Africa recently. I have been selling some Fairfax this year (to keep at 30% of my pf but it keeps going up:)) and want to redeploy the cash. Looks like the new guys from Helios haven't made much of an impact, 5 yr return at -50%.

Why are you holding while selling other banks, just sheer quality? I read some reports last week w Dimon saying you should sell a bank at 2x TBV and also Buffett unloading on BAC. East west is not growing that fast and that's one of the reasons I felt 2x TBV might be getting expensive..