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Fairfax Lawsuit against the hedge funds - finally dead ?


bsilly
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Greetings to all my old friends here.

 

I had been checking in on my favourite Canadian Insurance Co. & noticed that on Oct. 29 Exis was dropped from Fairfax' ongoing case. Fairfax indicating they will appeal.

 

I'm afraid that any victory for Fairfax at this point will be pyrrhic, with the bigger hedge funds gone from the suit. However it served a greater public good to shine some light on the practices of these firms. Exis did pay a high price for its actions through negative publicity, and is a shadow of its former self. Other parties to the suit such as SAC, Rocker/Copper River - currently listed in the "Where are they now" file - brought about thier own demise,  no doubt aided partly by the information brought to light through the efforts of Fairfax & Patrick Byrne at Overstock.

 

The unfortunate thing is that as these cases drag out over the years, the news loses its currency. But for those of us who watched it play out in real time - it is still interesting to see the fallout. And Fairfax is still going strong.

 

http://www.swtriallaw.com/press-releases/new-jersey-court-clears-exis-capital-in-fairfax-financial-hedge-fund-lawsuit/

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Bsilly,

 

 

It's great to see your name attached to a post again. You and Cardboard were voices of reason during a pretty dark time in the existence of Fairfax. For that, you have my sincerest appreciation. It would be good to hear your thoughts on, well, darned near anything going forward.

 

 

I hope all is well for you. Take care.

 

 

-Crip

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Thanks for all the well wishes. Yep - all is well here !

 

The market seems frothy to me - and even some companies that have grown profits at anemic rates are showing good gains. So I'm probably looking to bail out on a few of those and take some money off the table for now.

 

My investing style the last few years could best be described as the rip van winkle style of investing. I have awoken to find that the FFH stake that I took back on that fateful day one January has paid back more in dividends than my cost base for the stock! If Brolgaboy ever came back to apologize I must have missed it :) Speaking of that - I see he is busy as ever bashing Valeant & Bill Ackman. Unfortunately while he over thinks things a bit, and suffers from a severe case of confirmation bias (can't we all?), he is basically correct on that one. My take is much simpler however.

 

B.

 

 

 

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