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Diane Francis says Watsa is one up on Buffett


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Guest dealraker

The financial press mantra:

 

"We will write anything, no matter how stupid, to incite the emotions of our potential readers.  This is the only way we can survive and if we parallel the tabloids that's right where we want to be."

 

"WATSA VS. BUFFETT!"  Let's pretend to put them in a ring and let them slug it out........at least that's what we want our readers to do--- slug it out slamming each other on WHO IS BEST!!!!!!!!!!!!!!!!

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I would be shocked if Prem isn't at least somewhat disappointed by her article.

It's odd that she would categorically criticize Warren on grounds that have a strange semblance to the investment actions of Prem & Co. (withstanding the one-time, rabbit-out-of-a-hat stuff - CDS, etc).

I'd bet money that both do quite fine in the coming decade - FFH puts don't pay enough and sadly can't write BRKs...

 

It's thankfully not inline with some of the BS out there (like Kass), but it's way off.

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Interesting that she did not comment on the fact that FFH has been loading up on some common stock positions that match BRK (J&J, KFT, WFC etc)...

 

Unfortunate that she mis-represents what Buffet said... my understanding is he was not 'calling the bottom' but instead stating that purchases made at that time in well managed low debt companies would produce good long term results.

 

I do like all the Buffett bashing (similar to 1999) as BRK has traded down significantly and I have finally been given the opportunity to make my first purchase in the past couple of weeks.

 

Diane, thank you. Cramer, you also keep up the good work! (As I would like to buy more at even lower levels!)  

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I do like and appreciate the interviews that Diane Francis have with Prem from time to time. I think she does a good work with that and hope that these will continue. I do appreciate that as a FFH shareholder and think it is very valuable and useful for us. As I think FFH appreciate to know what's in our minds as FFH shareholders, I do appreciate to know what's in Prem's mind and these interviews do that job very efficiently.

 

That being said, I think it wasn't a good idea to compare Prem and Warren like she did. It is an exercice that can be done, but it's far, quite far, from being a white and black situation where one is the winner and the other one is the loser.

 

 

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Guest dealraker

I've owned both Berkshire and Fairfax for over 20 years and see absolutely no gain from trying to compare the two.  The stock prices and the less-than-an-accurate-picture accounting we see and use so often completely confuse owners---- and now is, in my view, one of those times.  Does FFH's current financial picture mean that everything is going to roar ahead for the next 5 years while BRK's spells disaster?

 

That's what the numbers and the stock prices are saying. 

 

They "ain't" tellin' the truth. 

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The less charitable might simply see a journalist hack attempting to curry favour with whom she perceives her next boss might be. I understand that the she is also thinking of writing a new book, which will sell considerably better if there are 'approved' references to certain individuals.

 

A puff here, & a flatter there,

... or a well worn route dating back to Conrad Blacks time running the FP?

 

 

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