Madpawn

Very curious to see if this coincides with some announcement regarding BIAL / Anchorage IPO!

Have we received any hints lately on status of Anchorage IPO? September is fast approaching

As someone on the other end of the spectrum (age wise), I’m certainly hoping that Fairfax and my other investments stay flat over the next years if not decade or two so I can keep accumulating shares at a reasonable price, assuming the underlying business continues to perform. That said, if I knew time is against me and I’ve got a short runway left (for lack of better words), holding any type of stocks would be inherently risky no? It doesn’t matter if it’s Fairfax, Berkshire, the S&P; no one’s going to accurately predict the behaviour of these equities within a given time frame. Whilst you’re not interested in holding for a flat run over 7 years, I’m certain you’d be interested in holding it for a bull market of 6 years and sell right before the next drop down. Perhaps I’m oversimplifying it, but wouldn’t it be simply a matter of risk allocation where given the timeframe, you’re better off with a larger weight in fixed income investments?

Keen to get this boards opinion of cash position vs hunting for good deals - I think this market still had decent deals out there, perhaps evidenced by BRK and other value investors purchasing specific companies on or off the market. That said, I’m struggling to find the balance between buying those bargains and preserving cash in the event where a broader market downturn affects everyone and everything … thoughts on that? It’s like “rational” FOMO on one hand and fear on the other…

India may opt to lower its reserve price for the divestment of a majority holding in state-run IDBI bank by 20%, a newswire reported, citing undisclosed source.

There are also sources claiming Kotak and Emirates NBD are dropping out of the IDBI bid - wondering what’s FIH’s position on this

my thoughts exactly, I like how Prem is able to recognize and admit mistakes…hoping to see the same from Ben and team.

Fairfax India Announces Sale of Equity Interest in Sanmar Chemical Enterprises Limited Headline: Approximately US$27 million at current exchange rates. Following the sale, Fairfax India has no economic interest in SCEL. https://www.fairfaxindia.ca/press-releases/fairfax-india-announces-sale-of-equity-interest-in-sanmar-chemical-enterprises-limited-2026-04-09/ From annual letter (march 2026), Sanmar was valued at US$101M compared to $201M as presented in April 2025's annual shareholder - Is this worrying to anyone else? The whole thesis around FIH is accurate valuation of private assets and we're seeing one of them being sold at 70% discount less than a month after latest communications, not to mention the announcement was oddly dry and straightforward with no explanations.

Indian likely to restart IDBI privatization from scratch: https://economictimes.indiatimes.com/industry/banking/finance/banking/government-likely-to-restart-idbi-bank-privatisation-process-from-scratch/articleshow/129644794.cms?from=mdr It'd be funny if Fairfax ends up buying it for a fair price in next 1-2 years, could also be a big improvement timing wise given BIAL should IPO by Sept. 2026 (fingers crossed)

Keen to get this board's opinion on currency risk as we're essentially dealing with a company operating in Indian (rupee) but traded in USD, with investors largely based in Canada (CAD)...has anyone reflected on / read management's notes on long-term currency implications for Canadian investors?

Anyone has thoughts on a potential BIAL IPO announcement to help fund this?

We'll see about a jump...it'd really depend on the deal structure as FIH does not have the capacity to finance it

Looks like we're getting IDBI Bank ! Fingers crossed the financing of it will be favourable to FIH shareholders

Financial bids for IDBI will be submitted next week and winner announcement by end of March. Curious to get this board’s thoughts - could FFH lend money to FIH for an all cash deal? It should be around $4.5B for 60% of IDBI which can be repaid using proceeds from an eventual IPO of anchorage (last amount a while back was $3.7B).

When is this transcript from?