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Idea for next year's FFH AGM


wondering
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I think would be a good idea to have Paul Rivett sit with Prem on stage during next's year AGM.  Prem does this with Chandran during the Fairfax India meeting.

 

This is only my personal bias, but sometimes I feel Prem (God bless him) doesn't always give the greatest answers to shareholder questions. I realize sometimes he can't comment because for example, they may be making a future investment in a company.  However, my observations are that Prem seems more relaxed with Chandran on stage, carrying half the load.  And the answers from both Prem and Chandran are much more enlightening.

 

Similar to the conference calls, where Paul is doing the talking, I think this would give more assurances to the investment community about continuity at Fairfax, after Prem is gone (which I hope is not for a long time).

 

I don't know how the meetings are conducted at the Fairfax Africa.  I haven't been able to attend.

 

Other FFH AGM hightlights.

 

- great gin and tonics from Davos

- no gift cards from Toy R US - bummer

;D ;D ;D

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No gift cards from Toys'r Us, but they gave out hundreds and hundreds of toys!  Beggars can't be choosers!

 

The crowds seems a touch smaller than last year...or they spaced out the booths better, because it was less crowded.  The energy of shareholders was very palpable this year and it seemed like my first visit to Berkshire in 2001!

 

Our dinner was amazing again...with Rob Ruffin and Tim McElvaine giving great presentations and then Fairfax putting up two terrific panels with Jeff Stacey moderating.  I will be starting a semi-annual podcast called "Pabrai and Chewster!"  An hour each time with just Francis and Mohnish going at it, and Francis talking about how great a deal Stonestreet was and then Mohnish talking about how he had Francis pay all of the legal bills!  Hilarious!

 

I remember telling shareholders back in 2006 that we may not quite understand how big Fairfax Asia could get...I'm saying it again about Fairfax India and Fairfax Africa!  The snowball is starting to roll!

 

Cheers!

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Can I assume by your comments that there was nothing of much interest that was shared at this year’s AGM?

 

Not too much new if you have read the annual report and listened to the last few quarterly calls. At the C&C dinner the night before, Paul Rivett mentioned that FFH was looking to monetize a few of their non-public holdings. 

 

Prem was very open and honest about some of his investment missteps the last 5 years.

 

My takeaway is Fairfax India and Fairfax Africa should do very in the future.  FIH - quality investments in spite of who wins the election.  FAH - Africa is still capital - hungry, and yet private-equity is leaving.

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