Fairfax stock positions

[weighingmachine]

"The agreement makes Kraft Heinz the exclusive provider of some condiments, macaroni and cheese and cream cheese at Disney’s North American parks and resorts, and on the Disney Cruise Line. 

 

The deal enables Kraft Heinz to use Disney characters and stories across 10 of the food company’s brands, including Heinz, Philadelphia and Kraft Mac & Cheese. It also extends to Disney’s studios and streaming platforms, where Kraft Heinz will fund content co-created by the two entities." 

 

https://www.wsj.com/business/media/kraft-heinz-strikes-deal-with-disney-to-supply-resorts-and-tap-characters-d24a8b15

[gfp]

19 hours ago, giulio said:

Posting here for those more competent than me to take a look and comment. 

Full letter is in the comments section on X.

If true, I guess this is a positive for exco? 

I am always skeptical of this kind of macro predictions.

 

 

I'm skeptical of these types of claims and thought I would share a link to a cursory Claude Fable 5 breakdown of his claims in case anyone else has interest without burning any tokens themselves ->

 

https://claude.ai/share/4cc0d479-e38b-4019-b043-79805ffa2b14

[SonOfKen_IV]

just found an X post where it was quoted this paper, highlighted by Mr Burry. Do you think FFH could be involved somehow?

[SafetyinNumbers]

1 hour ago, SonOfKen_IV said:

just found an X post where it was quoted this paper, highlighted by Mr Burry. Do you think FFH could be involved somehow?

Fairfax doesn’t have life insurance exposure in NA and is selling Eurolife. It doesn’t have exposure to private credit of this sort either.

[TwoCitiesCapital]

I have access to Burry's substack where the whole post is.

 

The argument is again PE-owned life insurers. 

 

I.e. PE companies have a captive insurer, they ratchet up risk using offshore entities and lax regulations for overseas subsidiaries to leverage these these things up to juice returns on the fixed income side.

 

And then they sell premium as quickly as they can to collect the upfront cash/pay day on the insurance side. 

 

And as long as everything goes well, the PE company makes it rain cash. And when it goes south? State regulators and the surviving insurers bare the cost of the failure a la their social insurance. 

 

Privatize the gains. Socialize the losses. 

[TwoCitiesCapital]

I have access to Burry's substack where the whole post is.

 

The argument is again PE-owned life insurers. 

 

I.e. PE companies have a captive insurer, they ratchet up risk using offshore entities and lax regulations for overseas subsidiaries to leverage these these things up to juice returns on the fixed income side.

 

And then they sell premium/policies/annuities as quickly as they can to collect the upfront cash/pay day on the insurance side. 

 

And as long as everything goes well, the PE company makes it rain cash from float and the investments. And when it goes south? The insurance sub fails and the state regulators and the surviving insurers carry the cost of the failure a la their social insurance. 

 

Privatize the gains. Socialize the losses. That's Burry's complaint. And he points to this being the mechanism that is funding much of the AI infrastructure build out. 

Edited 3 hours ago by TwoCitiesCapital