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Did anyone listen to the CC?


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Yes.  The one thing that stood out for me is that Fairfax is looking to do similar deals in the US mid cap market, as they have done in the Cdn market (i.e., private placements of bonds/prefs with warrants with the various Cdn companies they have done in the last 6 months).


The rest was kinda a repeat of what we heard at the AGM and 4th Q CC.

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When asked aboit ICICI Lombard. He was coy but seemed to suggest that something might be in the works. We have heard rumors about $1B which wouldn't surprise me one bit considering its market position. He also said that he thought fairfax shares were trading below IV and though he didn't give any numbers he said something about we have done share buybacks in the past and you can look back where we have done them etc. This was in response to a Q about share dilution paying for AWH. Something left me wondering if a good part of that $1B might go to reducing share count. Definitely some speculation on my part here but that was the impression I got.

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