Fairfax down nine percent in after hours trading on Wednesday May 7

[IansAunt]

Any ideas why?

[SafetyinNumbers]

15 minutes ago, IansAunt said:

Any ideas why?

It’s 7 shares. Someone probably made a mistake 

[IansAunt]

4 minutes ago, SafetyinNumbers said:

It’s 7 shares. Someone probably made a mistake 

Nasdaq website says its 5.500 shares

[Santayana]

5500 total shares after hours, only the last 7 at a weird price.  I'm guessing fat finger.

[gfp]

I don't think Fairfax trades at all after-hours and it certainly doesn't trade on the NASDAQ.

 

Bad data is not uncommon.  Fairfax closed at another all-time-high today.  Worry about something else

Edited May 7, 2025 by gfp

[IansAunt]

25 minutes ago, gfp said:

I don't think Fairfax trades at all after-hours and it certainly doesn't trade on the NASDAQ.

 

Bad data is not uncommon.  Fairfax closed at another all-time-high today.  Worry about something else

the nasdaq site  has after hours market activity information about Fairfax. It shows that someone sold 2,620 shares at 16:07:05 and also 2912 shares at 16:46:51. So that is two fat fingers. I hope it isn't so, but since this is an all-time-high maybe someone is cashing in. I'm in it for the long haul, it was just a shock to see that long green line down to 1462.64, which is what 2023.93 Canadian?

[Malmqky]

6 minutes ago, IansAunt said:

the nasdaq site  has after hours market activity information about Fairfax. It shows that someone sold 2,620 shares at 16:07:05 and also 2912 shares at 16:46:51. So that is two fat fingers. I hope it isn't so, but since this is an all-time-high maybe someone is cashing in. I'm in it for the long haul, it was just a shock to see that long green line down to 1462.64, which is what 2023.93 Canadian?

 

I see fat fingers for seven shares. The trades for 2620 and 2912 look fine?

 

[gfp]

Does anybody on this board actually have access to trade FRFHF after hours?  Interactive Brokers and Fidelity don't allow it.  Is this a robin-hood thing or what?

[hardcorevalue]

You guys all should be hoping it's down 7%. 

 

If a fat finger AH trade freaks you out, your position is too big. 

[SafetyinNumbers]

12 minutes ago, hardcorevalue said:

You guys all should be hoping it's down 7%. 

 

If a fat finger AH trade freaks you out, your position is too big. 

I don’t think it means necessarily that someone is too big. I think a lot of value oriented investors that have survived since the GFC have a very high fear of drawdowns so can be quick to take profits. Being on a prop desk I was trained to trade around my positions so I need to fight the urge to trim often with most of my positions.
 

Fairfax is an exception because on a look through basis most of its assets are treasuries and the rest are very diversified. It’s really hard for ROE not to average above 15% for the next 5 years. It’s also hard for the multiple to contract much given the excess capital for buybacks and the inevitable 60 add. If I’m staying consistent with my sell plan, I wouldn’t be a seller no matter what the multiple is because I predict FTM ROE to be north of 10%. East to say, hard to do but I hope I get tested at IFC type P/B multiples. Those shareholders seem very content to hold given the 17% expected forward ROE.

[SafetyinNumbers]

9 hours ago, Haryana said:

East to say, hard to do but I hope I get tested at IFC type P/B multiples. Those shareholders seem very content to hold given the 17% expected forward ROE. @SafetyinNumbers

 

What makes IFC that good, is it their brand that makes their insurance highly profitable?

The narrative is high market share, the best management and accretive acquisitions. In reality, I think it’s the analyst estimates which are tight and up and to the right suggesting growing and highly predictable earnings. They help by reporting adjusted EPS that has less volatility than IFRS EPS. Quants really dig it.

 

 

 

 

[Crip1]

18 hours ago, hardcorevalue said:

You guys all should be hoping it's down 7%. 

 

If a fat finger AH trade freaks you out, your position is too big. 

A drop of 7% does compel any holder to ask "What happened?" as, normally, there is a reason for a market move of that size. I didn't detect anyone freaking out. Your point is valid though, as if volatility is that concerning, then don't take a big position.

 

-Crip

[KFRCanuk]

Looks like the Raymond James downgrade  "News" hit yesterday even though it was released Sunday. Sure wish I had more money to invest in FFH.

Edited May 9, 2025 by KFRCanuk

[Malmqky]

20 hours ago, KFRCanuk said:

Looks like the Raymond James downgrade  "News" hit yesterday even though it was released Sunday. Sure wish I had more money to invest in FFH.

 

Fairfax is flat for the week and was down like 2% Friday?

 

Are we looking at the same stock?

[SafetyinNumbers]

On 5/9/2025 at 1:00 PM, KFRCanuk said:

Looks like the Raymond James downgrade  "News" hit yesterday even though it was released Sunday. Sure wish I had more money to invest in FFH.

What RJ downgrade? Last thing I saw was that it was added to their Best Ideas list on Tuesday?