Jump to content

investmd

Member
  • Posts

    195
  • Joined

  • Last visited

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

investmd's Achievements

Newbie

Newbie (1/14)

  • Conversation Starter
  • Collaborator
  • First Post
  • Dedicated
  • Week One Done

Recent Badges

0

Reputation

  1. Have held the stock for close to 2 decades - despite frustrations of 2010-2020 era. IMO, annual letters always read like the author is exuding positivity, not necessarily humility. Good to see the mea culpa this year on Blackberry. I do find it surprising that Watsa didn't discuss the MW short. I understand taking the high road approach in order to focus on the company's earnings. On the other hand, an annual letter is meant to convey the highlights and lowlights since the last letter. Treating the MW's short as a "non-event" doesn't seem appropriate given the news it attracted - especially for a company that has been hit hard by a previous shorting attempt. If I recall correctly, the other interesting omission in this year's letter was no discussion of stock buybacks. In previous letters he has discussed Singleton's approach to reducing share count, hinting at future stock buybacks.
  2. If anyone on this board is going to PIF AGM next weekend in Austin and wants to meet up, pls message me.
  3. Thanks @Spekulatius. That makes sense. The Cannibals portfolio is mostly algorithm driven. MP is still holding MU in his fund. I believe he has had MU for >5yrs without much to show. He obviously has conviction that the next 5 years will be different. Let's see how it plays out.
  4. On recent Conference call did Watsa shed any light on what FFH is doing with profits from sale of pet insurance business in 2022?
  5. @Spekulatius have seen you mention several times MP selling Micron shares. Can I ask you when did he sell MU and what % of his MU position did he exit? Everything I've seen, indicates MU is a core position of >15% in MP holdings for 5+ yrs and one of his few US positions along with Brookfield. As of Fall 2022, he remained bullish on MU.
  6. @RetroRanger thanks for posting the Pabrai video. Interesting perspective on 100 baggers.
  7. Seems like an option to buy shares during a Capital raise. Does that mean pre-existing shareholders can buy in at 1 lira whereas new investors have to come in at today's price of 3 lira? Company was trading at 8 Lira a few months ago.
  8. Can't find anything online to explain the drastic fall
  9. My takeaways from 2020 AGM: Prem admitted some mistakes (which is a change), but remains as bullish on FFH as ever. Everything is great. Companies are great, people are all awesome. Got to hand it to Prem for consistency in Optimism Bought corp bonds at 4% yield and sold half of them at 1% yield Didn't sell BB - conv. explanation of securities regulation. Not clear whether they would have sold if spike event had occurred outside of the 6 month prohibition on trading window Stock positions increased 18% in Q1 Insurance underwriting business performing v. all and flow compounding at a consistently healthy rate
  10. Xerxes, would love to see this thread of where FFH is in 2030 and have it updated yearly :) Parsad, While this may seem like a great trade in the next 2-3 years. I think the narrowing the discount will only come on the back of a rising book value, so you would get a double-lift in absolute and relative terms. But then what ... Do you see it as having a real "growth" engine once the discount narrows ... past these relatively speaking low hanging fruits. Maybe we should make it a thread. Where do folks see FFH ten years from now !!!! - size of the float - outstanding shares (hopefully 40% bought back) - the size and growth of FIH - the size and growth of Atlas - book value - share price - hopefully Resolute and Stelco long gone. I like BB converts. Can Prem pull a Microsoft out of his hat
  11. Going through the posts on this thread, my summary is that consensus is that 1) basic underlying principle of identifying a business that will return your money and more to you in future is just good investing & 2) perhaps there has been some evolution in "value investing" to not only focus on P/E, P/B, assets and debt but also place emphasis on potential to grow earnings. Does that make sense?
  12. excellent points above by LC, Cherecza and Writser questioning why Amazon could not be a "value company". I like the comment also about value investing being "nerdy" and gravitating to "mathy" situations and missing out on the potential growth prospect. Maybe what should be dead is the topic of "value" vs. "growth". Maybe the markets have come to a new way of "investing well" which blends assessing BOTH intrinsic valuation of assets and multiple of yesterday's earnings but also giving important consideration to earnings growth.
  13. There was a thread or two in the past. I am interested in talking about Angel investment opportunities. However, there are issues: - For a lot of Angel investment opportunities, information is not openly available. It's possible to share info between friends, but it's harder to post information on public forum. There can be multiple parties upset about it. - As you may have seen on CoBF it's difficult to talk about companies managed by people who read/post on CoBF. This is an issue talking about Angel investment opportunities. From my experience even in non-recorded public meetings people usually tip-toe around the negatives of startup companies - nobody wants to offend and nobody wants to be kicked out of future contacts, allocations, board seats, etc. This is again magnified by posting on public forum. Jeff Bezos does not care what we say about Amazon on CoBF. Joe StartupCEO might care a lot. - Unlike public companies, the opportunities to invest into a startup are only open to qualified investors and only for certain amount of time. So there might not be much interest in companies that are not raising money currently. And for companies raising money currently, see my points above. - Edit: Point above is exacerbated for foreign investors. Not sure if you're in US or Canada, but cross-border angel investing AFAIK is even harder to discuss and accomplish. Anyway, I'm willing to try somehow, feel free to start thread(s), feel free to PM me if you want to talk in private. BTW, there's an Angel investing event on Wednesday that netnet posted about: https://www.cornerofberkshireandfairfax.ca/forum/events/life-science-investor-meeting-sept-2-and-sept-9/ You can ask netnet if it's OK to talk about the companies that present afterwards. (I may have to miss part of the event :( ) Jurgis, thanks for bringing up good points around posting publicly about Angel investments as one does want to remain cordial. I've generally tried to stick with categories of "Strengths" and "Areas of Concern/to work on" when giving opinions on startups. I've signed on the link you kindly shared for a healthsciences event next week. Will take you up on offer to connect via PM. Thanks. Best,
  14. To double click on the idea of "adjust to the world around you" and metric of value, I've been thinking of this idea that in tech with proven earnings a P/E of 30 might be the equivalent of P/E of 10 in traditional industries. Reason: In proven tech companies with earnings, the total addressable market (TAM) is unknown because they open new markets. This does not happen with traditional commodities & industries - ie a pulp producer is unlike to evolve to clothing apparel retailer. With tech, a computer company (like Aapl) can become a music company and then a services company and then may become a health company. So if Aapl, Goog, FB are ever trading at a PE of <30, could be the equivalent of traditionally buying at PE of 10. Does that make some sense??
  15. Agree. What I'm learning is that perhaps driver for value inflection point should be clear at time of purchase. Concept of "value will out over time" is not good enough.
×
×
  • Create New...