Fairfax AGM presentation

[Partner24]

The FFH AGM presentation is available!

 

http://www.fairfax.ca/Assets/Downloads/2009_AGM_Slide_Presentation.pdf

 

I think it's one of the best that I've seen so far from Fairfax.

 

I like the long term numbers, the strenghtened balance sheet, etc.  but furthermore I really like their values and their culture. I guess there is less than 10 businesses in that I know with whom I want to be a long term business partner. Fairfax is one of them. 6 years ago, it was the first stock investment that I've made in my life. I guess I was a better investor then!  :D

 

Needless to say, I still have those shares and then some.

 

Cheers!

 

[gaf63]

Thanks Partner , been waiting for this,  G

[Uccmal]

Hi Partner, I guess great minds do think alike. 

 

A.

[link01]

thnx, partner.

i might have missed this otherwise (and i'm glad i didnt).

[Partner24]

I deserve no credits for that.  :)

 

Thanks to David for informing me that the AGM presentation was available via email.

 

Cheers!

[Mungerville]

For anyone that was at the AGM, on slide 35, what was the reason for the red bar labeled "GAAP" - did they explain that as the US P&C surplus which would have been eroded had a change in GAAP not occurred and therefore you need this additional portion to make it comparable to the three other periods where erosion of surplus occured?  Or some other explanation?

[Parsad]

I believe it had to do with mark-to-market accounting changes in GAAP.  The orange bar would have been where the decrease in surplus would have been before mark-to-market.  With the change in GAAP, the decrease in surplus is considerably more as assets will be marked down.  I believe that was what was implied.  Cheers!

[Mungerville]

Thanks, that's what I figured.  We are on the cusp of a hard market - if only the stock market could go down another 30%, that would guarantee it!  Bad is good.

[Mungerville]

Sanjeev,

 

You have been doing a great job here with this board for so many years.  I really wanted to go to the AGM this year to hear all the interesting talk at the dinner, etc. (I was fortunate enough to be able to meet with Prem for the first time a few weeks earlier on other business so I made the mistake of convincing myself that that was good enough) but most importantly to meet all of the great board members you have assembled as well as yourself in person.  Things transpired against me as I had a heavy travel agenda which is not typical for me.

[Parsad]

Well, the good thing Mungerville is that you will have plenty of more chances to come to Toronto.  We have it each year, so anyone who wants to come can.  The more the merrier! 

 

Although, next year I have to arrange to get a portable mic somehow, because even though we have a semi-private room, there is still plenty of noise and the people in the back can barely hear anything the guests say.  Especially Francis who speaks quite softly!  Cheers! 

[Smazz]

Edit:

 

Let me rephrase my question:

 

Does anyone have the info on Equity hedges currently?  Are there absolutely no hedges remaining on the equity portfolio?

[T-bone1]

Can someone please repost the link to the 2010 Fairfax AGM slides, I can't seem to find it.

 

Thanks!

[QLEAP]

Found it on scribd

 

http://www.scribd.com/doc/30813201/Fairfax-2010-AGM-Slide-Presentation

[T-bone1]

thanks Qleap!