Alekbaylee
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Posts posted by Alekbaylee
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Yup, plus the Can $ lost some ground vs the US$ lately.
Today FFH gained 4%ish while FRFHF took only 2%ish.
There, we talk like day traders now! ;D
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Been doing so for the last 15 years after getting first 200 shares at $498 in 1998. Thus, may well be more tempered and patient than anyone on this board! 8)
Lol! I agree, even if I got my shares at a better price.
All the hype around BBRY take-over was at least a good PR exercise for Prem/FFH.
They've been in the headlines all around the world.
Maybe that explains in part the recent runup of the SP.
We shall see if it drops when earnings are released next week.
Meanwhile, let's enjoy it!
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I think on BOI they have a gain around 170%, and the EUR has weakened around 5% against USD. They bought at 0.10 EUR, and currently it's at 0.27 EUR. So I think the initial investment of $387mm is worth around $1b for a gain of around $30 per Fairfax share.
In another thread somebody mentioned a gain of 1 billion the other day.
Anybody knows the number of shares they have in BKIR?
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Or the beginning of 7 fat years in the insurance business?
AIG is also flying..
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More details about the transaction :
http://www.valuewalk.com/2013/10/watsa-makes-second-big-greek-investment/
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Wow! Lucky man!!!
Congrats!
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Yeah, I have no opinion either.
Only time will tell if he was right or wrong but there's a good change he knows what he's doing.
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Wow, he really believes this thing is not dead...
Here’s what he told The Associated Press: “We thought long and hard before we offered $9 a share and we’re not in the business of offering a number and at the last minute changing the figure … Rest assured when we do this it won’t be done to split the company.”
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Have a wonderful (birth)day buddy!
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Giofranchi, be carefull BV will likely do down in Q2 because of their bond portfolio. FFH marks most of their bonds to market (held for trading bonds are MTM). I can foresee some repricing of FFH this quarter.
BeerBaron
Right. And I'd guess they'll likely take a hit from Alberta floodings and, to a lesser extent, the European ones.
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Good luck, Sanj!
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Can anyone recommend another insurer to put the cash in?
- Fairfax maybe? ;D
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Not sure about the US, but here in Canada, you can sponsor a live-in help for minimum salary.
They usually come from Philippines, Morroco, South or Latin America, etc.
Some people prefer an "au pair" (usually younger) that can teach their kids a second language while learning/improving their own English skills. Most of them come from European countries (i.e. France), are well educated, have a driving licence, etc.
This might help :
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Try this for France : http://www.amf-france.org/inetbdif/sch_cpy.aspx?lang=en.
comes from this http://www.amf-france.org/
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The word "worry/worried/worrying" comes up more than 50 times in the text.
For some reason (personal history/background, etc.), certain persons seem to always worry, whatever the situation is.
This guy will probably continue to worry when he earns the 7 figures income. ???
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Might lure some pet owners into other segments of insurance (personal lines) or the other way round.
Would be interesting to know how many customers Hartville has.
Usually people that buy insurance for their pets are well off too.
Some interesting data :
http://www.embracepetinsurance.com/pet-industry/pet-insurance/statistics
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Interesting...
Russia has always been in search of a southern, warm port for its navy. It was a main reason to invade Afghanistan.
???
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Apparently the deal aborted...
Greece's National Bank (NBG) (>> National Bank of Greece) said on Friday Fairfax Financial Holdings Ltd's (>> Fairfax Financial Holdings Ltd) interest in taking part in the bank's recapitalization had ebbed because the Canadian investment fund wanted changes to the terms that were beyond NBG's control.
NBG, the country's biggest lender, said in a bourse filing that Fairfax had expressed an interest in up to 1.5 billion euros, which amounts to 10 percent of a capital raising to increase the bank's solvency to levels required by the central bank.
"The expression of interest remained at an initial phase because Fairfax asked for changes in the framework of the recapitalization that are beyond National Bank's control," NBG said in the filing.
NBG officials would not provide further details.
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Maybe a way of hedging their hedges.. ???
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Thx Cardboard.
So, this year I report a loss of $50 (cash portion) and then in x number of years, upon sale of company B's shares, I'll report the sale proceeds on a $100 cost basis (or a $ each) again, right?
Even if the original 100 shares of Company A are now only 50 shares of Company B.
Yes, it's 2 canadian companies but I can't find the circular/documents sent by the company.
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Say you bought 100 shares for a $ each in company A a few years ago.
In 2012, company B buys out company A, paying $0.50 cash + 0,5 of its own shares for each share of company A.
So you end up with $50 and 50 shares of company B that you intend to keep (no sale yet).
How do you report that to CRA? : You have a $50 loss for the money portion of the transaction, but what about the shares portion of the transaction?
How and when do you account for the 50 shares of company B that you now have?
Thx for any help.
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Fairfax's CPI/deflation bets in Europe may soon prove right.
France is reporting a 0,5% fall of the Index in January.
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Fairfax is for patient/lazy investors. Otherwise, it can be frustrating.
I'm a 25% patient person; so I put 25% of my money in this stock and I try to forget about it.
I know it'll perform on the long run. Meanwhile I can play with other stocks.
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This is what happens with socialism and a president who favors populist decisions over time in a competitive world. Too bad that so many in the U.S. don't get the message either.
IMO, one of the best ads during the election was from Thomas Peterffy founder of Interactive Brokers and paid by his own pockets (I wonder how many of the many ultra leftists on this board closed their account after seeing the ad?). He was basically saying that under a socialist regime, that the rich would get poorer, but that the poor would also get poorer. How true has this been in Venezuela! I know many educated expatriates from this country. Some very smart people of the middle class who now can't really go back home since they would be totally unable to replicate their current standard of living.
If democracy is about electing the most likeable guy or gal, then democracy is doomed to fail. Especially, if the electorate is highly uninterested in the issues at hand and only thinking about their own good. Also, when you hire someone or choose a CEO, you look for the most competent person, the one who will give you the most bang for your buck. With politics, in most instances, it is up side down. I could not believe the First Lady saying at the Democrats convention that Barack was so poor when he met her, that she could see outside through the car... Since when being poor is a top criteria to be elected president of the United States or the most complex enterprise ever invented? What about competency for the job? IMO, Hillary Clinton would get much more boxes ticked on job readiness checklist.
Cardboard
I doubt there are many if not any ultra leftist on this board.
You probably know the saying : you're socialist/leftist when you're young, centrist/liberal when you start making money and downright rightist/capitalist by the time you get richer. ;)
FH Q3 Results
in Fairfax Financial
Posted
I'm sure Prem at this point wishes he didn't have this entanglement either. But it is what it is, and either he salvages it or it goes to zero. He's not the type to give up, if that is one thing any shareholder should have learned by now. If things go wrong, he'll pay the price as one of the largest shareholders, then learn from the mistake and move forward. But he isn't going to give up, and this is scaring a lot of shareholders who can't stomach it. Cheers!
Can't stomach it nor rationalize it.
It's hard to understand why Prem takes such big bets/risks when there seem to be less risky or more predictable situations. It's easier to follow Buffet or BBerkowitz in their thesis than Prem/FFH.
I think that explains the huge disappointement expressed today here.