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Help Prem decide....


Zorrofan
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what should the future direction of FFH be?  

72 members have voted

  1. 1. what should the future direction of FFH be?

    • FFH should continue on its current path of value investing
    • FFH should be more like the BRK/MKL model
    • FFH needs to find middle ground between the BRK model and their current path of investing


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Let me start off by saying that I have been a FFH shareholder for a very long time, and as Sanj will attest, I have stood by Prem through the famous seven lean years. I am not happy with FFH investing in BBRY but I don't view what Prem did as some sort of betrayal of his value and ethics.

 

I do want FFH to invest more like MKL and BRK. I want Prem to buy high quality companies like MKL is, as I realize they can't buy the elephants BRK can. But I do like the fact the FFH is not afraid to hedge and the current losses on the hedges don't bother me. To me the hedges are what makes FFH different - the willingness to swim against the tide.

 

I do think FFH needs to evolve.....maybe not the BRK/MKLmodel  totally but not what they are now. They need to move towards the BRK model but still keep what makes FFH...FFH. Not sure if this makes much sense to everyone, just the ramblings of an old fool, but perhaps if we want change at FFH this is the time to let Prem know our thoughts?

 

cheers

Zorro

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I am sorry but if you want Prem to invest like MRK/BRK, invest in MRK/BRK.  Although I disagree with the hedges (for the short-term they may make sense but hedging over 2 to 3 years really hurts returns - the market is just too efficient on the macro level for this work over an extended period of time), FFH provides a distressed investing/insurance option.  I have no problems with the blow-ups, its to be expected.  How many of us have win/loss ratios of greater than 70%?  Not too many. 

 

Packer

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If I had the ability, I would not be investing in FFH. I would be doing it on my own.

 

It is easy to throw out opinions which is what most of us are doing. How many here have managed a few billion successfully?

 

It's fair game to criticize him and the company.  He's a public figure and the company is a public company.  I don't think one needs to be in their shoes in order to offer an opinion.  It's the equivalent of saying that only a professional ballplayer can criticize or question another professional ballplayer.  My opinion is that so long as the criticism of Watsa and FFH doesn't veer into the insulting or personal, it's fair game.  It comes with the territory.  While I find much of the tears and hand wringing to be a bit of an over reaction, I don't believe that anyone has veered off into the unacceptable.

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