finetrader Posted September 21, 2012 Share Posted September 21, 2012 There we go... http://www.forbes.com/sites/dividendchannel/2012/09/21/fairfax-financial-ffh-shares-cross-below-book-value/ Link to comment Share on other sites More sharing options...
Stone19 Posted September 21, 2012 Share Posted September 21, 2012 Just about every year you get to buy below book value at some point.Someday that won't happen anymore but for now it still does and it's worked out great for me.Every share I own has been bought at below BV at that time.I have a nice position that has been built over many years.Cheers Link to comment Share on other sites More sharing options...
Valuebo Posted September 21, 2012 Share Posted September 21, 2012 Expect the hedges and poor results on positions (rimm, dell, ...) to have an impact on BV. ;) Link to comment Share on other sites More sharing options...
ourkid8 Posted September 22, 2012 Share Posted September 22, 2012 I love it when it falls below book value as Mr. watsa is able to repurchase stock below book AND I am able to increase my position!!! Yay!!!! S Just about every year you get to buy below book value at some point.Someday that won't happen anymore but for now it still does and it's worked out great for me.Every share I own has been bought at below BV at that time.I have a nice position that has been built over many years.Cheers Link to comment Share on other sites More sharing options...
Uccmal Posted September 22, 2012 Share Posted September 22, 2012 Just about every year you get to buy below book value at some point.Someday that won't happen anymore but for now it still does and it's worked out great for me.Every share I own has been bought at below BV at that time.I have a nice position that has been built over many years.Cheers Too true. The losses on Rimm and Dell in the past couple of weeks add up to a couple of bucks per share. In the meantime there is all of those juicy hedges, just in case the Fiscal Cliff gets real ugly. Link to comment Share on other sites More sharing options...
finetrader Posted September 22, 2012 Author Share Posted September 22, 2012 Fiscal Cliff, To me it's non issue.. Everybody knows that whoever gets elected will keep on with these high deficits. At least in the short term. Link to comment Share on other sites More sharing options...
finetrader Posted September 22, 2012 Author Share Posted September 22, 2012 And concerning Fairfax, with all the respect that I have for management, for stock price to go up again, they will have to make some net investment gain. After about two years where they look quite a bit out of sync. And this leads me to this tought: have you remarked that it is usually a good time to invest with good asset managers after they look stupid? Bruce Berkowitz looked stupid at end of 2011, and it would have been a very good time to invest with him. Link to comment Share on other sites More sharing options...
Uccmal Posted September 22, 2012 Share Posted September 22, 2012 FT, Sounds about right. I am sure if Bill Miller hadn't left, he would have turned things around big time. Buffett has had his cycles as well, but has smoothed them over time. FFHs returns are going to come all at once, and no one is going to be able to time it very well. Kind of like my own record, and yours I am sure. Link to comment Share on other sites More sharing options...
bargainman Posted September 23, 2012 Share Posted September 23, 2012 Fiscal Cliff, To me it's non issue.. Everybody knows that whoever gets elected will keep on with these high deficits. At least in the short term. Just like the debt ceiling was a non issue? Everyone knew that they wouldn't put the country in financial danger just over a debt ceiling debate,right? I wouldn't write off a fiscal cliff disaster yet. If Obama wins he'll have to deal with the fillibuster happy Republican congress. If Romney wins he'll have to deal with the Democratic Senate. All in 2 weeks time right before the holidays... Link to comment Share on other sites More sharing options...
giofranchi Posted September 23, 2012 Share Posted September 23, 2012 FFHs returns are going to come all at once, and no one is going to be able to time it very well. Kind of like my own record, and yours I am sure. I couldn’t agree with you more! I know it happened many times in the past, but sincerely I don’t care: FFH trading below book value makes no sense at all. People just don’t do their homework, or are pseudo intellectuals who have never run a business in their whole life… If FFH stock price loses another 10%, I will double my firm’s stake in FFH. Let’s hope so! giofranchi Link to comment Share on other sites More sharing options...
JoJo1 Posted September 23, 2012 Share Posted September 23, 2012 RIMM and Dell are definitly not the best ideas ... and what if all the Fed money currently printed will sometimes explode into stocks? Asset inflation followed by price inflation? Then the SP and CPI hedges will explode into our head. What, if nobody cares about valuation, and everybody seeks for some real assets? Main interest here: DO not hold ANY paper money. Link to comment Share on other sites More sharing options...
obtuse_investor Posted October 24, 2012 Share Posted October 24, 2012 Since the FFH books are in USD, but the stock is traded in CAD; according to my calculations price of the stock never quite touched book value. Am I seeing this right? Although, it can be argued that CAD is currently overvalued, so the FFH stock today (~380) is well below book. Link to comment Share on other sites More sharing options...
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