oldye Posted November 23, 2009 Posted November 23, 2009 Descendants of Shelby Davis just bought 2.5% of Fairfax. Cheers!
Grenville Posted November 24, 2009 Posted November 24, 2009 I just can't seem to forget the fact that they missed the ball on AIG. They had over a billion before AIG imploded. Interesting picture: AIG reported holdings in Davis NY Venture Fund 10/31/07 28,556,210 shares at $1,802,467,975 4/30/08 30,451,813 shares at $1,406,873,761
watsa_is_a_randian_hero Posted November 24, 2009 Posted November 24, 2009 I just can't seem to forget the fact that they missed the ball on AIG. They had over a billion before AIG imploded. Interesting picture: AIG reported holdings in Davis NY Venture Fund 10/31/07 28,556,210 shares at $1,802,467,975 4/30/08 30,451,813 shares at $1,406,873,761 Doesn't this mean AIG owned the Davis fund, not the Davis fund owned AIG?
Rabbitisrich Posted November 24, 2009 Posted November 24, 2009 I just can't seem to forget the fact that they missed the ball on AIG. They had over a billion before AIG imploded. Interesting picture: AIG reported holdings in Davis NY Venture Fund 10/31/07 28,556,210 shares at $1,802,467,975 4/30/08 30,451,813 shares at $1,406,873,761 Doesn't this mean AIG owned the Davis fund, not the Davis fund owned AIG? The Venture fund owned AIG. The global fund held $65B in assets as of July 31, so it's hard to imagine that Chris Davis personally dug through the 10-K notes. Plus, he probably knew Hank Greenberg personally, and he couldn't imagine that such a capable man could F up with a capital F. Another good investor, Wally Weitz, fell under a similar trap through long association with Angelo Mozilo. It happens to the best.
Partner24 Posted November 24, 2009 Posted November 24, 2009 In my opinion, FFH is a perfect fit for the Davis family investment style. Regarding AIG, as far as I know, it's been a Davis family holding since decades ago.
Grenville Posted November 24, 2009 Posted November 24, 2009 I just can't seem to forget the fact that they missed the ball on AIG. They had over a billion before AIG imploded. Interesting picture: AIG reported holdings in Davis NY Venture Fund 10/31/07 28,556,210 shares at $1,802,467,975 4/30/08 30,451,813 shares at $1,406,873,761 Doesn't this mean AIG owned the Davis fund, not the Davis fund owned AIG? Sorry, I wrote things backward. Davis NY Venture Fund held AIG.
twacowfca Posted November 25, 2009 Posted November 25, 2009 In my opinion, FFH is a perfect fit for the Davis family investment style. Regarding AIG, as far as I know, it's been a Davis family holding since decades ago. You are almost certainly right. Shelby (the first) bought AIG after his first trip to Japan and the Far East in the 1960's. It became a long term 100 bagger for him. It's likely that AIG was a legacy holding for the Davis family and that they were not diligent to keep a close eye on it after Greenberg stepped down.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now