FFH AGM 2020

[Xerxes]

It was funny to listen to the conference though. Prem is definitely such a nice guy. He always answers any question by "That's a great question...". He seems like a real team player type of leader who gives his managers plenty of space and loves making deals.

 

Proud to be a shareholder.

 

The only downside I see is that, with all the high-fiving going on sometimes, it may lead to a lot of groupthink.

 

Totally agree, he is a gentleman.

On the Fairfax Africa, someone asked about potential dividends. I was thinking what kind of question is that, he gracefully answered even that question. 

 

Hopefully, with the team spread out and working from home that would help impede herd mentality.

 

[Xerxes]

If either XOM or GOOG are the size of BB I'll be amazed.

 

If Exxon is a large, liquid holding, then Watsa has out-Buffeted Berkshire's illiquid OXY stock pick which walks and sounds like a Stelco.

By all means, assuming large enough ,GOOG should be what APPLE is for Berkshire. A pillar of stability and growth.

 

 

[investmd]

Any explanation why FFH.TO close up >9% on a day when the TSX was up just over 3% ?

 

Can't be the AGM as the stock was down yesterday...time for people to digest the news from AGM that they bought corp bonds at 4%, insurance is doing well and they dipped into XOM & GOOG? Buybacks?

 

 

[Xerxes]

Any explanation why FFH.TO close up >9% on a day when the TSX was up just over 3% ?

 

Can't be the AGM as the stock was down yesterday...time for people to digest the news from AGM that they bought corp bonds at 4%, insurance is doing well and they dipped into XOM & GOOG? Buybacks?

 

I think with so many names out there trading at the discount, there has be to be substantial change in the story (other that we're sorry, we are trying to improve), for the investment flow to come in and lift FFH. I have no doubt that FFH is being bought on the cheap by hard core value investors. I think the exercise to do is simply to see if at $400 CAD a pop, there is more value in that basket today than there was in 2013, when last it was at the same price. But that lift that will bring it 1.1 book that will take time.

 

At the AGM it was mentioned that there is about $1 billion left in monetization. Let's hope that takes care of few bad apples. My speculative scenario is that perhaps Alphabet would be interested in the Blackberry and its IP portfolio, now that its (Google) advertising dollars will have some headwinds and now that Blackberry can be said is cheap. ($4 billion market cap and $1 billion revenue) so 4 times sales.

 

FFH bought shares of Alphabet. Completely unrelated but you never know ...

 

 

[StubbleJumper]

I have no doubt that FFH is being bought on the cheap by hard core value investors.

 

 

Are you thinking that Mason Hawkins might be throwing some capital into FFH?  He had been lightening up on FFH over the past year, but he certainly has taken high conviction positions in the past.

 

 

SJ

[petec]

Any explanation why FFH.TO close up >9% on a day when the TSX was up just over 3% ?

 

Can't be the AGM as the stock was down yesterday...time for people to digest the news from AGM that they bought corp bonds at 4%, insurance is doing well and they dipped into XOM & GOOG? Buybacks?

 

I think with so many names out there trading at the discount, there has be to be substantial change in the story (other that we're sorry, we are trying to improve), for the investment flow to come in and lift FFH. I have no doubt that FFH is being bought on the cheap by hard core value investors. I think the exercise to do is simply to see if at $400 CAD a pop, there is more value in that basket today than there was in 2013, when last it was at the same price. But that lift that will bring it 1.1 book that will take time.

 

At the AGM it was mentioned that there is about $1 billion left in monetization. Let's hope that takes care of few bad apples. My speculative scenario is that perhaps Alphabet would be interested in the Blackberry and its IP portfolio, now that its (Google) advertising dollars will have some headwinds and now that Blackberry can be said is cheap. ($4 billion market cap and $1 billion revenue) so 4 times sales.

 

FFH bought shares of Alphabet. Completely unrelated but you never know ...

 

I think the monetisation comments referred to the private portfolio, not the public one.

[Xerxes]

I have no doubt that FFH is being bought on the cheap by hard core value investors.

 

Are you thinking that Mason Hawkins might be throwing some capital into FFH?  He had been lightening up on FFH over the past year, but he certainly has taken high conviction positions in the past.

 

 

Yeah others like Southeastern.

I think SE was already in FFH based on their podcast few years. I wasn’t aware that he was unloading. If so he is probably back.

 

He (or his associates) were also big on Fedex. There was a whole podcast on it with the CEO. I wonder what they did with it as it was a long term position for them.