This2ShallPass

Wow, that's some serious uncorrelation..you definitely have the balls (and brains) to go against the grain! Not kidding, you can seriously market that. There might be a fairly large pool of folks who would pay up to avoid the batshit crazy 2 weeks we are having..

I would say this is still possible. It's great that BIAL is giving their inputs, but Hari also said it's to the state government but central (federal) govt will make the decision. It's entirely possible the central govt will decide against BIAL's interests. We should be prepared for it. They gave a honest answer on Anchorage IPO, said it will still take a while. Not sure if "a while" is multiple years (felt like it). My guess is it will come down to Prem bringing up the issue with Modi again, but obviously he can't pick up the phone. So will have to be when he gets an invite to speak w Modi again. I bought more today (when my competition was out). I reduced my position by 30% in Dec'23 and now back to the full position. This will be a double in the next 3 years but we could be in flat zone for a while..

Haha..good idea. I called in right before Q&A, there was a comment about buybacks. Did they announce any significant buyback?

What is a good time to call in if we want to listen to them talk about the investments? I assume there's other AGM business they need to take care as well..

I think most of us will agree you are our EB expert:) Thanks for your posts on this name, much appreciated. I built my initial position in the $.4-0.6 cent range, did a top up ~$0.85 but haven't done anything for a long time. Today added 5% and will add more at these levels. Stink bids, first time hearing that I was thinking the same and have put some of my own tonight! Let's see which one of us is the stinkier..

Our fav bank seems to be on fire sale these last couple of days. Eurobank is already a 7% position for me but thinking of adding more, they seem to be firing on all cylinders and executing brilliantly. @nwoodman as our resident expert, would be curious to get your thoughts. Would a recession impact them so much that this selloff is warranted?

YTD -3%. Up 5% before these last two days. This thread is impressive to see the overall results from everyone. I do feel once in a while sharing results is helpful, just to see how others are doing and give you some kick in the ass (if needed).

Is there any way we can invest in Wintaai?

Exactly. They have massive tailwinds. Their ad load is only 3% currently, they can always push on that as needed. Meta has shown once you reach a certain point, seems like ad load doesn't impact user counts. YT is so annoying with their ad load but no alternative (I quickly got premium).. Interesting. Reddit is one of the least moderated spaces if I understand correctly. Maybe their user base skews younger / left??

I have RDDT as part of my growth stock bucket of ~10% (well they performed themselves down to 7.5% with the recent selloff:)). Added more in the $110s. I think about these companies not in terms of traditional valuation metrics but the opportunity in front of them and how big can they become. Reddit is becoming the next "Google" in terms of popularity and indispensability. Their data is a treasure trove in the AI age and I see it as more icing on the cake. They absolutely have the potential to 10x. But because these companies are so volatile, need to be ready for 50% drawdowns in the blink of an eye and position size appropriately..

If they told me BIAL doesn't IPO for another 2 years, then yes. What's the diff between getting in FFH shares and cash..just tax treatment?

Sold 1/3rd of my remaining Fannie/Freddie common, still have pfds.

What were the other positives than the lawsuit outcome? Saying we need to study deeply is code for we're not interested in doing it now. I sold a third of my remaining common today. Still have pfds. What are the boards thoughts on those?

"Fairfax India intends to complete an IPO of Anchorage, although we did not move forward on this in 2024 as we are still in the process of obtaining regulatory approvals." It's the only thing they said about the IPO in the annual letter. I was just thinking about this today, BIAL is not the first airport to be listed, so why this huge delay of many years in getting approval?

Added little more to Prosus and Fairfax India.

Looks like wait will be longer.. https://www.cnn.com/2025/03/13/business/fannie-freddie-privatization-fhfa-director/index.html

This seems like a really good approach to generate income. I have been recently thinking about otm puts but combining w covered calls is even better.

Bought Noble (put protected, max 10% downside for 6 months). Added to Fairfax India and RDDT.

More MGM..this time Jan'26 $40 calls. That's quadruple from my starter position last week. The setup looks very favorable. But I was sitting on 23% cash last week and down to 18% this week. More Prosus.

Doubled up on MGM. Usually I don't buy back-back, but as I learn more it just seems like too good an opportunity. Still <3% of my pf and room to grow..

Starter positions in MGM and TSMC.

What strike do you typically buy and duration? I added to TDW, still overall small position but couldn't resist adding at these levels - market cap $2.2B, 2024 fcf was $330M and they expect 2025 to be slightly above that. 2025 is a relatively down year for them. Added starter position in TSM.

This made me look at GM! In my 30 mins of research, the only question I have come up is on their debt - is GM financial debt non recourse to the parent? I would assume so. They have an EV of ~$65B and ~$12-13B 2025 EPS. Tariffs impact is a big unknown.

Decided to sell few holdings. I had a good start to the year up 12% (Chinese big tech, Fannie/Freddie and growth stocks all worked), but I'm increasingly concerned that the speed and erratic nature of the changes by the new administration is going to break something (don't care for the politics, just thinking about impact for the markets). Now at 20% cash. Reduced Fairfax to 25% of portfolio from ~32% (part of it from selling and part from rest of pf increasing) Sold 25% of Fannie/Freddie common - up 10x so taking some profits Sold 1/3rd Baba Sold Baidu stock (hold some calls still) - finally giving up on this one after holding for years, they are in all the important new technologies but something in their execution seems to be lacking Sold some growth stocks - these are 10% of my pf as a bucket, reduced to 7.5%

I don't share the same level of confidence that Fairfax is 40% undervalued, but I really hope you're right. What else needs to go right to get to the 25% ROE scenario? Even in these hard market years we could only get to 15%. Do you see them significantly increasing interest income (maybe w corporate spreads widening)?