@OmxBerry@BrownMarubozu@VikingVan100 I have 5% of my portfolio in Fairfax. Long term I'm bullish. I just think it's unlikely to perform well while the insurance industry is going through a downturn.
@BrownMarubozu@OmxBerry@VikingVan100 Investors forgetting that insurance is a cyclical business and Fairfax doesn’t just always go up is the reason they bought at $2400/share and are now underperforming the S&P by 40%
@OmxBerry@VikingVan100 I figure they’ve bought a lot at current and higher levels. If the insurance cycle continues to worsen the stock will ger cheaper
@DarkfireCapital@ErnestWongBWM summed it up
“Think he was quite honest about this in the Berkshire AGM... Priority will be on business tuck-ins, whole acquisitions, and being a liquidity provider of last resort during crisis.
Would be surprised if he starts picking stocks the way Buffett did”
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money." -- Joel Greenblatt
@JibbyCap If you add up the real estate and value the operating business at zero you get about $6/share.
Managment owns over 50% of the float, and consistently buy back stock.
They sold one of their properties in 2022 and issued a special dividend with the proceeds.