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Future of FFH


shalab
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Starting discussion on this topic - it seems the Watsa family will retain control through their family trust. It seems the company is already being run by folks Prem trusts for the most part with him holding veto vote in some areas.

 

 

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Starting discussion on this topic - it seems the Watsa family will retain control through their family trust. It seems the company is already being run by folks Prem trusts for the most part with him holding veto vote in some areas.

 

Fairfax is probably further ahead on succession planning than Berkshire was at the same size.  Yes, I would imagine that Prem's family and foundation will end up controlling his stock and making sure his wishes are materialized. 

 

Andy Barnard is already overseeing the insurance subsidiaries, many of which already have extraordinary managers, and Paul Rivett is overseeing a lot of the investment and operational decisions.  You still have all of the old guard available that pretty much grew up with Prem at Gardiner Watson and Confederation Life.  They've brought in younger blood...I think they can still do better on this...but they are carefully adding capable people to the bench.  It will be one of the deepest around in another few years as they acquire more and more operating businesses.  Cheers!

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How can one individual oversee a lot of the investment and operational decisions simutaneously?  It will be very daunting, difficult and stressful, thus resulting in poor health :-(

 

Buffett_Groupie,...

 

You seem to be a financial doctor...  ;D

 

But seriously,... somehow I sense that Prem's son, Benjamin seems to be a little more interested in economics and finance than the Buffett boys... Peter and Howard. I might be wrong on my gut feeling, but I also know he seems to be unknown to most of us, and therefor there might be some unexpected surprises. Prem was also considered reclusive some decade ago, so this should apply even more currently to his son.

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How can one individual oversee a lot of the investment and operational decisions simutaneously?  It will be very daunting, difficult and stressful, thus resulting in poor health :-(

 

Buffett_Groupie,...

 

You seem to be a financial doctor...  ;D

 

But seriously,... somehow I sense that Prem's son, Benjamin seems to be a little more interested in economics and finance than the Buffett boys... Peter and Howard. I might be wrong on my gut feeling, but I also know he seems to be unknown to most of us, and therefor there might be some unexpected surprises. Prem was also considered reclusive some decade ago, so this should apply even more currently to his son.

 

No matter how qualified the next generation is, I am quite critical of nepotism.

 

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No matter how qualified the next generation is, I am quite critical of nepotism.

 

Obtuse,

 

I hear you, loud and clear. In my professional life I am forced to deal with that to a mind-boggling extreme. A couple points to consider:

 

* Nepotism is really little more than an individual looking at a situation emotionally (I want my family member to do well) or doing so objectively.

* Prem has shown in the past to be objective in thinking freely admitting his mistakes and tends, IMHO, to base decisions on facts as opposed to emotions.

* Nepotism is wrong as is reverse-nepotism. Always, one is best judged by the content of their character, their work-ethic and their intelligence. A family member may or may not have these traits. I guess what I'm trying to say is that we should not automatically deduce that, should Prem's son somehow be brought into the mix, it's the product of nepotism.

 

Considering these, I would keep an open mind.

 

-Crip

 

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No matter how qualified the next generation is, I am quite critical of nepotism.

 

Obtuse,

 

I hear you, loud and clear. In my professional life I am forced to deal with that to a mind-boggling extreme. A couple points to consider:

 

* Nepotism is really little more than an individual looking at a situation emotionally (I want my family member to do well) or doing so objectively.

* Prem has shown in the past to be objective in thinking freely admitting his mistakes and tends, IMHO, to base decisions on facts as opposed to emotions.

* Nepotism is wrong as is reverse-nepotism. Always, one is best judged by the content of their character, their work-ethic and their intelligence. A family member may or may not have these traits. I guess what I'm trying to say is that we should not automatically deduce that, should Prem's son somehow be brought into the mix, it's the product of nepotism.

 

Considering these, I would keep an open mind.

 

-Crip

 

Your points are very valid and duly noted. This is a problem is all these -isms out there.

 

I really hope that Prem's objectivity isn't compromised and the next generation person is truly capable for the job. But we can only hope.

 

To the casual outside observer it would look and smell like nepotism. And that sort of stuff undermines confidence.

 

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How can one individual oversee a lot of the investment and operational decisions simutaneously?  It will be very daunting, difficult and stressful, thus resulting in poor health :-(

 

Buffett_Groupie,...

 

You seem to be a financial doctor...  ;D

 

But seriously,... somehow I sense that Prem's son, Benjamin seems to be a little more interested in economics and finance than the Buffett boys... Peter and Howard. I might be wrong on my gut feeling, but I also know he seems to be unknown to most of us, and therefor there might be some unexpected surprises. Prem was also considered reclusive some decade ago, so this should apply even more currently to his son.

 

Staying physically healthy is more important than anything else including intelligence, talent, temperament and wealth.  Stress and overwhelming workload/responsibilities will result in poor health.  I'm sure Steve Jobs on his death-bed would agree to trade 100% of his wealth for a year of good health.

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