jbwent63

Other includes huge swings in f/x gains and losses, primarily on the foreign denominated debt (think yen debt). If this is stripped away, operating earnings are actually higher.

All those purchases were in September, reported yesterday.

The 92% figure is from the BRK 10-K on page K-7. Does the filing state that BRK now owns 100% of BHE? Is it possible that there is another minority shareholder that is still holding a small position?

I've never seen it mentioned, but does anyone know if either Markel or Berkshire own any Fairfax stock? With BRK's recent purchase of Allegheny seemingly doing well, and the mountain of cash in Omaha, might FFH be a target? Would the Watsa family agree to sell? I know there is a history with Markel, being the roots of FFH, any chance they might take a run at Fairfax?

I have been looking through the annual shareholder pages on the various company websites and note the following (shares are in thousands): Marubeni Corp: BNYM AS AGT/CLTS 10 PERCENT 162,554 9.71 Mitsui Corp: BNYM AS AGT/CLTS 10 PERCENT 137,862 9.16% Sumitomo Corp: BNYM AS AGT／CLTS 10 PERCENT 113,294 9.27% Itochu Corp.: BNYM AS AGT ／ CLTS 10 PERCENT 130,162 9.04% Mitsubishi Corp.: BNYM AS AGT / CLTS 10 PERCENT 402,862 9.78 Fair to assume these are holdings of NICO as of 3/31/24? Or might there be some comingling with other clients of BNYM.

If you are a Canadian resident for tax purposes and cease to be so, you are deemed to have sold all your assets with the capital gains being taxed. Similar rules at death. If you believe you will return eventually, you can make an agreement with the MOF and post a bond to cover the estimated taxes just in case you don't return to Canada.

I am stoked to see the movie since I am unable to attend this year due to work commitments (will be watching from Poland, hopefully).

I, too, was planning on attending but work has gotten in the way. I hope to be able to access the stream. Is the recording made available after the meeting?

+1

With the dividends being much larger than the interest on the related debt, if you take into account all the elements, is it possible that the equity sliver has been ground down to zero or less at this point? Therefore making the return uncalculatable i.e. infinity?

+1

Thank you. It looks like more of the Japanese trading houses have been purchased since the last filing with the Japanese Stock authorities.

I apologize for not remembering who was posting the NICO regulatory filings, but if they would be so kind as to do so for year end it would be much appreciated. Especially the investment section. Thanks in advance.

My first purchase of BH was when the B shares were introduced at 30-1. Using tax advantaged (RRSP) accounts, I purchased 15 B shares. After the 50-1 (BNSF) split I added a few more shares in one of the significant dips and have never sold a share. I have written covered calls against a part of my position a couple of times (including a failed attempt late last week). I understand the comments that holding an S&P index fund would have done as well (although probably not in my case given the time I invested) but I own BH as a hedge against the craziness of the general stock markets. I am convinced that in a draw down of markets (it has and will happen again) BH will significantly outperform. So in that sense it is my insurance policy (instead of S&P 500 puts perhaps). Folks will always need insurance. The fortress balance sheet (sorry, Mr. Dimen) adds further protection. I haven't owned FFH for as long, and it isn't as large a position, but it is large enough. Having lived through the lean years of the late 2010's and not sold any shares I am hopeful that Mr. Watsa's current strategy will provide more protection in a down draft.

https://www.sec.gov/Archives/edgar/data/915191/000110465924025508/tm246589d1_sc13d.htm These reports start at the top of the ownership structure.....with Mr. Watsa personally.....so then you see the Watsa family holding companies, then finally Fairfax....and the amount of shares held by Fairfax (46,724,700) is unchanged from the prior quarter. This is what was also reported in the 13-F on February 14, 2024.