Parsad

+1! Cheers!

What a joke! Without Prem, Blackberry would have been bankrupt 8 years ago under Thorsten Heins who the board picked against Prem's wishes. Prem is the guy who pushed for John Chen before Thorsten Heins got the job. The board went with Heins and lost almost three years on the turnaround. Cheers!

Hilarious! Reddit bandwagon keeps trotting along. Cheers!

That's a smart loophole! Cheers!

Vancouver has similar constraints to New York. Essentially, we have mountains to one side, Pacific Ocean on another and the U.S. border on the third side. So as such, we either build upwards, higher density or east to the Fraser Valley. Cheers!

How many of you with multiple properties utilize a property manager? Cheers!

Rosenberg comments on prices in North Bay, ON. Cheers! David Rosenberg on Twitter: "I'm going to change the Einstein definition of insanity to this: when home prices in North Bay, Ontario begin to look like a dotcom stock in 1999. There's a whole lot of pain, globally speaking, if (when) this housing bubble bursts. https://t.co/NTR4H2Z7WT" / Twitter

Article by a financial blogger on what he has in his wallet? How many of you use credit cards and loyalty cards to rack up points? What other interesting things do you keep in your wallet? Cheers! What's In Your Wallet? (boomerandecho.com)

Of those people that invest in real estate, how much of your real estate portfolio is composed of commercial property? Cheers!

I added net of any debt to clarify...thanks for pointing that out. Cheers!

With interest rates so low, and real estate values seemingly high, this is a poll to see how much of the average net worth is tied up in real estate...including both residential and commercial. Net of mortgages, lines of credit, etc. Cheers!

Hi All, Please move this discussion over to the Coronavirus thread on the Politics Forum. Same username and password as the Investment Forum. https://politics.thecobf.com/topic/37583-coronavirus/?tab=comments#comment-1240380 Thanks! Sanjeev

Incidentally, Fairfax doesn't have to monetize their BB position. I think it would be equally beneficial if BB did something similar to AMC and did a at the market equity raise as well. BB raising $1-2B at these prices would be as good as FFH selling or monetizing their BB investment. Cheers!

Fairfax is one of the most opportunistic companies out there. They couldn't capitalize on BB last time, because the convertible debt agreement restricted any sale of BB for six months. They said they looked at all different ways to capitalize on it...Wade and Roger sold their shares so you know half the investment team thought it was over fair value...it wasn't like Brian and Prem were sitting on their asses eating potato chips and watching hockey. If they haven't capitalized on it some way this time, then I will agree with you. But the opportunity to sell or monetize last time simply wasn't there. Cheers!

Also, that analyst's comments were some of the dumbest things I've ever heard. Do they actually know how in depth Fairfax goes before making a large investment...I've talked to the analysts who work there, I've seen the reports, articles, statements on their desks...I've talked in depth about investments with Brian, Roger, Chandran, Prem...I know how their team tears apart an idea that anyone brings forth for investment...Wade, Lawrence come from the Cundill environment, which should speak for itself. Just because their investment ideas don't necessarily fit in the framework of what shareholders, analysts or other managers frame their ideas in, doesn't mean the work isn't there. Cheers!

I think they'll monetize a significant portion of the shares as lumber peaks towards the end of the summer...maybe at $25-28 per share. Might even get taken out by a larger international player. In terms of Atlas, I've owned it since under $8 for about 3 years. Essentially doubled my holdings during the March 2020 collapse of the market. Sold half in my taxable accounts around $14, and am holding the rest. I've been watching and following Sokol since he left Berkshire. I think he's extremely talented at understanding distressed scalable, high capex businesses that are normally cyclical, and then converting them into consistently, cash flowing businesses that have reduced operating risk compared to their peers. Atlas has become the fastest growing shipping lessor with long-term guaranteed contracts, flexible supportive financing...and they will slowly diversify into a handful of consistently cash flowing businesses that dominate their respective space. He's also very good at finding talent. Cheers!

How come no one is talking about Fairfax's stake in Resolute Forest Products? The one that everyone was hacking apart 2-3 years ago, and now sits at nearly $20 per share as lumber prices soar! Up $5 a share since the end of Q1 and up over 300% since the end of 2019. Owning 40% of a $1.5B lumber company sounds pretty good right now...alongside a 40% stake in a rapidly growing $3.3B shipping company...10% of a $6.5B telecommunications company...30% of one of Greece's largest banks valued at nearly $3B...some pretty interesting large stake turnarounds that are taking hold for Fairfax. Combine that with a very hard insurance market, tons of dry powder and soon to be $1.3B in holding company cash after paying off the revolver...looking like $700 CDN at the end of the year looks reasonable. Especially if India's 2nd wave drop takes significant hold and the Indian economy starts churning again over the next few months. Cheers!

Sure, I would agree with some of that. But the actual mRNA technology used in the Pfizer/Moderna vaccines is not new. It's been researched and developed for over 30 years. So it's not like the world came up with this overnight. The technology was there. Cheers!

Yeah, but that works both ways...one group says one thing...the other group says the opposite. After everything that has happened...reviews, recalculations, court cases, audits, secondary audits...there is still nothing showing any fraud from the election, but you still have people digging. Vaccines, Wuhan, even frickin' kneeling during the anthem...each side has their own narrative, and neither side wants to listen to the facts. What else is new? Cheers!

Business in Vancouver article on Atlas and shipping: Container cargo carriers revel in COVID-19 pandemic boom time - Transportation | Business in Vancouver (biv.com) Cheers!

I understand your sentiment, but you can't have it both ways: - The vaccine may have side effects, even though none have come to light other than 1/100,000 or greater chances of blood clot or inflammation of the heart...so the anti-vaxxers say wait for the long-term effects and evidence. - The virus came out of a lab, but the conspiracy theorists said let's not wait for evidence. Which is it...do we base decisions on evidence or speculation? As value investors, you invest based on evidence or fundamentals. As a speculator, you invest based on speculation. I would imagine that value investors are an evidence-based group, but perhaps the recent influx of capital by value investors into crypto should indicate otherwise! ? Cheers!

This was what I was talking about yesterday...I'm glad the U.S. government acted so quickly! ? Cheers!

No it doesn't! But it is hilariously accurate...including the cheating and character part. Cheers!

Well I think the public has their limits: Bill Cosby's entire life of good work is now completely overshadowed by the terrible things he did in his personal life...no one is ever going to celebrate any positive thing Cosby has done. There have been a ton of horrendous allegations and prosecutions against priests in the Catholic church...and I think the reputation of the Catholic church has been irreparably harmed...anything positive the church does lives in the shadows of its atrocities. Cheers!

But what is it? Cheers!