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FFH to Invest $150 million in Mosaic Corporation


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I don't get it.  Why are they allocating capital to such marginal opportunities?  Can you just imagine Prem and Brian Bradstreet in a conference room somewhere:


Prem: "Brian, any new ideas for allocating capital after we have finally closed our ridiculously unfortunate equity hedges that I pushed is into?"


Brian: "Well Prem, we could buy a large slug of high quality US financials such as BAC or WFC to pursue your favourable Trump hypothesis...or we can allocate $150m to some shitty venture exchange outfit."


Prem: "That sounds great, Brian.  Since we have about as much exposure to Blackberry as anyone should ever have, and we've run out of low end Canadian restaurants to invest in, let's just go ahead and throw $150m at this venture exchange outfit.  What could possibly go wrong?  In fact, let's see if we can't use our investment to get Nelson Skalbania onto the board of directors."


Brian: "If you say so, Prem.  I'd be good with the BAC or WFC, but you're the boss..."



Next episode to follow.



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