Author Topic: 2017 Annual Letter  (Read 21091 times)


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Re: 2017 Annual Letter
« Reply #80 on: March 21, 2018, 07:41:11 AM »
FFH trading right around BV...anyone warming up to the name given the recent/modest selloff?


I am very warm on FFH these days. I'm not sure what the catalyst will be to get the price moving but a couple of thoughts come to mind.
1. Are the AWH shareholders who received FFH shares selling steadliy and thus depressing the price?
2. The market may need to see several quarters of the new approach 'playing offence' and 'disciplined underwriting'.
3. When and in what form will buybacks take?

As WB said "The Stock Market is a device for transferring money from the impatient to the patient".


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Re: 2017 Annual Letter
« Reply #81 on: March 21, 2018, 09:26:01 AM »

I would agree with your number 1. There is a constant seller in the market that is knocking down the price and it is likely former AWH holders that waited for 2018 to sell for lower tax rate on their capital gains. To be honest this is like looking a gift horse in the mouth I would like Prem to pick off all of those shares being sold.


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Re: 2017 Annual Letter
« Reply #82 on: March 22, 2018, 01:04:12 AM »
Thanks Petec, Fairfacts and TwoCities,
I'll start digging in on the weekend.