Corner of Berkshire & Fairfax Message Board

General Category => Fairfax Financial => Topic started by: dartmonkey on February 12, 2018, 08:14:14 PM

Title: Fairfa India results
Post by: dartmonkey on February 12, 2018, 08:14:14 PM
Does anyone know when they are scheduled to be published? Last year's report came on February 16.
Title: Re: Fairfa India results
Post by: DooDiligence on February 13, 2018, 03:57:10 AM
Does anyone know when they are scheduled to be published? Last year's report came on February 16.

Zero press releases on the corporate website, so far this year.
I'm even more interested in seeing the Chairman's letter.
Title: Re: Fairfa India results
Post by: Tommm50 on February 13, 2018, 07:16:23 AM
It's Thursday, conference call Friday.

http://www.fairfax.ca/news/press-releases/press-release-details/2018/CORRECTING-and-REPLACING----Fairfax-Announces-Conference-Call/default.aspx
Title: Re: Fairfa India results
Post by: wondering on February 13, 2018, 08:05:08 AM
FIH is down today.  I put in a buy order at 15.82.  Let's see if it goes through.
Title: Re: Fairfa India results
Post by: dartmonkey on February 13, 2018, 09:06:13 AM
It's Thursday, conference call Friday.

http://www.fairfax.ca/news/press-releases/press-release-details/2018/CORRECTING-and-REPLACING----Fairfax-Announces-Conference-Call/default.aspx

That's Fairfax, not Fairfax India. Both FFH and FIH published FY 2016 results on Feb 16 last year, which was a Friday. Perhaps they posted them after market close on Thursday, and will do the same this year.
Title: Re: Fairfa India results
Post by: alpha on February 15, 2018, 07:53:20 PM
Quote
The company has had excellent performance during the period from the closing of its initial public offering in January 2015 to December 31, 2017. As a result of that excellent performance, the company's book value per share of $14.46 at December 31, 2017 represented a compound annual growth rate during that period of 13.5% (15.5% prior to the performance fee described below) from the initial public offering price of $10.00 per share, outperforming the compound annual growth rate of the S&P USD BSE Sensex index of 5.9% during the same period.

Not bad!, then:

Quote
In accordance with the Investment Advisory Agreement, which provides for the payment of a performance fee of 20% of the increase in book value per share in excess of a hurdle rate of 5% per annum, a performance fee of $114.4 million was earned by Fairfax Financial Holdings for the period from January 30, 2015 (the closing date of the company's initial public offering) to December 31, 2017. The performance fee will be paid during the first quarter of 2018 by the issuance of subordinate voting shares valued at $14.93 per share (the weighted average share trading price over the last 10 trading days in 2017).

Heh, lucky for their performance fee there was a selloff at the end of 2017  ;)
Title: Re: Fairfa India results
Post by: Dazel on February 28, 2018, 04:17:59 PM
http://money.cnn.com/2018/02/28/news/economy/india-economy-gdp-7-2-growth/index.html
Title: Re: Fairfa India results
Post by: ScottHall on March 03, 2018, 07:44:11 PM
The current price doesn't seem to be much of a premium if they can keep up results like this for a while.
Title: Re: Fairfa India results
Post by: valueinvesting101 on March 11, 2018, 12:10:30 PM
IIFL demerger and CSB purchase may be precursor to merging both businesses.