Corner of Berkshire & Fairfax Message Board - 11th Anniversary!

[Parsad]

- who was the most surprising person you've ever interviewed ? As in did you have any expectations about certain individuals who blew them out of the park or changed your perception ?

 

It's funny, I never really went into any interview with any preconceived notions.  The one amazing thing is that all of them were very nice and personable...even Sardar!  ;D  Most became very good friends.  Larry Sarbit is an awfully funny guy though, so that was one interesting thing.

 

- Who had the most peculiar investment advice you'd ever heard ?

 

Actually the interviews usually had somewhat conventional ideas.  The most peculiar idea came from a very good friend of mine and Mohnish's...indirectinvestor!  He was interested in buying a pistachio farm outside of Bakersfield, California.  It was a great idea, as it's probably gone up 2-3 times in the last two years, but it wasn't your conventional type of idea.   

 

- What are the 3 best pieces of advice you've ever gotten ?

 

First was from my father..."You can do whatever you want."

 

Second was from Prem..."Just do it.  Whatever money you have or you can raise, start a partnership and build a track record."

 

Third was from my old friend John Zemanovich (lotsofcoke)..."Let me know when you are going to Omaha, and I'll take you to the Yellow BRK'ers Party".  That's where I met Buffett the first time, met Mohnish the first time and that trip changed my investing life.

 

I'm sure there was other pieces of great advice over the years, but those come to mind.

 

- What do you love the most about this board ?

 

The comradery, long friendships I've formed, the ability to share ideas and comfort it provides many other people.

 

- What originally attracted you to investing and how do you think that's had an impact on your life & happyness ?

 

My Dad died when I was in my 4th year of university...my Mom was a 37 year old widow and I had to raise my 9-year old brother.  I quit school to work, and then realized that I wasn't going to get anywhere working for other people.  I started to invest, but was having sporadic luck...Peter Lynch, buy what you know...didn't work! 

 

I stumbled across Berkshire's website and read his letters, then Graham.  I sold everything and bought Berkshire B's near the bottom in late 1999-early 2000.  That changed everything from that day and my happiness has increased 100 fold.  It not only improved my life, but my family's and friends.  It was the seed that allowed me to create this board, make wonderful new friends, start a partnership with my cousin Alnesh, create our dinner in Toronto, sell a portion of our U.S. partnership to our director and friends Glen & Andrew, assist the CCFC with fundraising...so many good things started from that first Buffett letter I read in late 1998.  So many more to come!

 

- In the next 5-10 years where do you see the board going ?

 

I just see it continuing to grow.  It's not going to suddenly change into something like the Motley Fool, but it will remain community oriented, relatively small and hopefully will continue to create an atmosphere where investors can change their lives.  What better testimonial can we get than Ericopoly buying a fractional Netjets stake when BAC hits $18-20!  ;D  Cheers!

[Liberty]

All sounds AWESOME  8)

 

Did you ever share what happened during your meeting with Buffett? If it's already out there, can anyone give me a link? Thanks.

[treasurehunt]

Thank you Parsad, for creating this amazing community of value investors. This is by far the best board I have been a part of. Oh yes, it's helped make me some money as well.  :)

[Parsad]

All sounds AWESOME  8)

 

Did you ever share what happened during your meeting with Buffett? If it's already out there, can anyone give me a link? Thanks.

 

Not a whole lot!  It was basically me standing in the lobby outside at the Omaha Golf & Country Club, and just noticing Buffett walk in with his security and daughter Susie.

 

I just said "Hi Mr. Buffett, can I get a photo with you?

 

"Sure!" And he shook my hand. 

 

I then kind of awkwardly stood there, since my friend John was back inside at the Yellow BRKers Party.  "Do you have someone who can take the photo?" Asked Susie? 

 

"My friend is inside"..."I can take it for you", she graciously offered.  "That would be great!  Thanks very much!"

 

And that was it...some more thanks from me...and a "best of luck to you" from Buffett.  But it was like a lightning bolt...meeting the guy who brought you this rational framework for investing and life!

 

He then spoke for about 40 minutes at the party.  Cheers!

[Partner24]

Congragulations and thank you so much Sanjeev! Looking forward for the next 11!

 

For the "old timers" here, I do remember the 2003-2006 years so much on this board. Remember the not so pretty MSN BRK colors, but the great culture we had then. I think you can still see most of the culture here...but you know, maybe it's just nostalgy...but even if it was tough to be a FFH shareholder, I miss those years and some of the people who were there. Happy to see that Sanjeev and some others are still there. Looking forward to keep posting and reading you guys for the next 11 years! Cheers!

[MVP444300]

I remember being on the old msn board reading about the wonderful advice on FFH Leaps and like a fool I ignored it.  I have learned a lot over the years reading some very intelligent; well thought out investment/financial advice from many of the board members.  Thank you everyone for making this into a world class message board!!! 

 

I gotta make it to the board meeting in Toronto one of these days to place some of the board names with the faces--if they'll let me into Canada.  lol

 

Sanjeev, to you especially, thank you so much for creating such a wonderful investment community.  Thank you for being so kind with your time, knowledge, and ideas that you have shared with us over the years!

[Liberty]

Not a whole lot!  It was basically me standing in the lobby outside at the Omaha Golf & Country Club, and just noticing Buffett walk in with his security and daughter Susie.

 

I just said "Hi Mr. Buffett, can I get a photo with you?

 

"Sure!" And he shook my hand. 

 

I then kind of awkwardly stood there, since my friend John was back inside at the Yellow BRKers Party.  "Do you have someone who can take the photo?" Asked Susie? 

 

"My friend is inside"..."I can take it for you", she graciously offered.  "That would be great!  Thanks very much!"

 

And that was it...some more thanks from me...and a "best of luck to you" from Buffett.  But it was like a lightning bolt...meeting the guy who brought you this rational framework for investing and life!

 

He then spoke for about 40 minutes at the party.  Cheers!

 

Thanks for sharing. I wish I could meet Buffett (it'll probably never happen), but I almost don't feel worthy of taking his time. Heh.

[Morgan]

Really excellent site Parsad! I've only been here for a little bit, but have learned a ton! Looking forward to learning more, more, more!

 

 

Cheers!

[Shawn]

- who was the most surprising person you've ever interviewed ? As in did you have any expectations about certain individuals who blew them out of the park or changed your perception ?

 

It's funny, I never really went into any interview with any preconceived notions.  The one amazing thing is that all of them were very nice and personable...even Sardar!  ;D  Most became very good friends.  Larry Sarbit is an awfully funny guy though, so that was one interesting thing.

 

- Who had the most peculiar investment advice you'd ever heard ?

 

Actually the interviews usually had somewhat conventional ideas.  The most peculiar idea came from a very good friend of mine and Mohnish's...indirectinvestor!  He was interested in buying a pistachio farm outside of Bakersfield, California.  It was a great idea, as it's probably gone up 2-3 times in the last two years, but it wasn't your conventional type of idea.   

 

- What are the 3 best pieces of advice you've ever gotten ?

 

First was from my father..."You can do whatever you want."

 

Second was from Prem..."Just do it.  Whatever money you have or you can raise, start a partnership and build a track record."

 

Third was from my old friend John Zemanovich (lotsofcoke)..."Let me know when you are going to Omaha, and I'll take you to the Yellow BRK'ers Party".  That's where I met Buffett the first time, met Mohnish the first time and that trip changed my investing life.

 

I'm sure there was other pieces of great advice over the years, but those come to mind.

 

- What do you love the most about this board ?

 

The comradery, long friendships I've formed, the ability to share ideas and comfort it provides many other people.

 

- What originally attracted you to investing and how do you think that's had an impact on your life & happyness ?

 

My Dad died when I was in my 4th year of university...my Mom was a 37 year old widow and I had to raise my 9-year old brother.  I quit school to work, and then realized that I wasn't going to get anywhere working for other people.  I started to invest, but was having sporadic luck...Peter Lynch, buy what you know...didn't work! 

 

I stumbled across Berkshire's website and read his letters, then Graham.  I sold everything and bought Berkshire B's near the bottom in late 1999-early 2000.  That changed everything from that day and my happiness has increased 100 fold.  It not only improved my life, but my family's and friends.  It was the seed that allowed me to create this board, make wonderful new friends, start a partnership with my cousin Alnesh, create our dinner in Toronto, sell a portion of our U.S. partnership to our director and friends Glen & Andrew, assist the CCFC with fundraising...so many good things started from that first Buffett letter I read in late 1998.  So many more to come!

 

- In the next 5-10 years where do you see the board going ?

 

I just see it continuing to grow.  It's not going to suddenly change into something like the Motley Fool, but it will remain community oriented, relatively small and hopefully will continue to create an atmosphere where investors can change their lives.  What better testimonial can we get than Ericopoly buying a fractional Netjets stake when BAC hits $18-20!  ;D  Cheers!

 

Wow that's awesome friend ! Very interesting & insightful responses. I wish you the best !

[rohitc99]

i am mostly a lurker since the original msn board. visit few times a day ...this board is more addictive for me than facebook (in a good way)

 

thanks sanjeev

[Guest Dazel]

Old timers!

2003 was quite a show...now that was fun! You guys remember Finite insurance! Even Buffet was in hot water at General Re! Ericopoly, we had a two year head start in Fairfax and still could not touch your returns!

 

Sanjeev you have shown what kindness does....by being kind with your time and energy to create a forum where die hards like us needed to be... you have carved out something special!

 

Good luck with all your endeavours you deserve it...

 

Dazel.

 

[woltac]

I remember being on the old msn board reading about the wonderful advice on FFH Leaps and like a fool I ignored it.  I have learned a lot over the years reading some very intelligent; well thought out investment/financial advice from many of the board members.  Thank you everyone for making this into a world class message board!!! 

 

I gotta make it to the board meeting in Toronto one of these days to place some of the board names with the faces--if they'll let me into Canada.  lol

 

Sanjeev, to you especially, thank you so much for creating such a wonderful investment community.  Thank you for being so kind with your time, knowledge, and ideas that you have shared with us over the years!

 

+1!

[SharperDingaan]

It's great to see something like this, as it is testimony to the power of the internet, & indicative of how many future PM's are probably going to grow up; ie: you only manage OPM in the private partnerships you choose, & go the mutual fund/hedge fund route only if you don't have you own, or any other choice?

 

We know the board from the early days of the FFH raid, & hopefully helped squeeze the orange so as to suck out as much juice as possible  ;)

 

Keep it up.

 

[Uccmal]

Blows my mind Sanj.  My investment returns skyrocketed with joining the board.  Partly coincidental, mostly the great ideas on the board.  Kind of like when the student is ready the teacher appears kind of thing.

 

The donation button is always there.  I know the cost offsets are appreciated by the boss.

 

Sanj. your story is both awesome, and tragic.  We have different backgrounds but the same motivation.  I was 31 or 32 and broke, years into a mixture of unemployment, short term contract work, and perpetual job interviews by class A jerks, during Canada's nasty 90s.  I decided the only way to end the cycle was to become financially independent and I am now about there. 

 

Another 11 - tx. Al.

[berkshiremystery]

Somehow I always feel that we all/or at least some of the core group of board members are almost like the deep core oil drillers, the type of Bruce Willis dirty dozens drillers from the movie Armageddon to save humanity. Only that we don't drill for oil or into the core of an asteroid, but rather drill with our brains for values in the stock market in the worst situations of general market fear. And  remember,... also Watsa started to sell air conditioners and furnaces to pay his way through, Chou got a job as a telephone repair man working for Bell Canada, and that are all biographies where legends are made. So Sanj and Al should be worry free, if they want to follow into the foot steps of their heros.

[Mikenhe]

I got involved with the msn board as I managed to free up some money in a 401k and wanted more information about how to invest it. The good news was that I was stubborn enough to not accept the advice I was given by ML. The bad news was that I didn't ignore all of it!!

 

I also wanted more information on Fairfax - even though I was working for one of the subsids at the time!! I needed the opinions of others who didn;t have the biased outlook that I did. I'd have been much better off if I'd followed my heart (and the opinions of those on the board) re Fairfax - instead I followed my head and cut my original amount I was to invest by 50%...

I guess it was good that I didn't follow my heart - but it was a financial mistake.

 

I'm now a year past working for Fairfax and I have to say that it was an incredible experience. I just wish the values that Prem imposes on Fairfax reached to all level of the organisation...

 

However so this board been an experience as well.. Certainly seems to confirm the phrase "birds of a feather flock together".

 

The last time ML called me to talk about advising me the guy at the other end talked to me as he was lookign up my investments " so mikenhe, you've been managing a lot of your own investment decisions and your performance in the last few years has been..... (tumbleweed) ...  well quite impressive.. If theres anything we at ML can do please let us know"

 

This board gave me the confidence to invest in some areas that I wanted to - and avoid some others.

 

Thank you.