Author Topic: Fairfax India new issue  (Read 125465 times)

ourkid8

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Re: Fairfax India new issue
« Reply #280 on: February 28, 2019, 12:17:47 PM »
Anyone buying? I could not help myself today.
« Last Edit: February 28, 2019, 08:01:10 PM by ourkid8 »


obtuse_investor

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Re: Fairfax India new issue
« Reply #281 on: February 28, 2019, 08:00:24 PM »
I nibbled last week.

I am getting uncomfortable with the size of this position for me. I will likely only add if price drops substantially (and value is not impacted).
Value Investor who manages his personal portfolio with a 25-45 year time horizon | @obtuse_investor

Zorrofan

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Re: Fairfax India new issue
« Reply #282 on: March 01, 2019, 04:24:43 AM »
Anyone else have concerns about what happens to reforms if Modi should lose upcoming elections?

petec

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Re: Fairfax India new issue
« Reply #283 on: March 01, 2019, 06:07:35 AM »
I always have been!

obtuse_investor

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Re: Fairfax India new issue
« Reply #284 on: March 01, 2019, 03:15:17 PM »
If the FIH thesis depends on Modi being in power, Iíd recommend this not be a long term holding. As far as I know, Modi is mortal. I expect the basket of well bought growing businesses will outlast him or any other politicians.

The reality is that Indians have seen and tasted the future. They have tasted capitalistic progress and all the trappings that come with it. Even if the Congress comes back in power I donít expect India to close its borders again.
Value Investor who manages his personal portfolio with a 25-45 year time horizon | @obtuse_investor

Pauly

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Re: Fairfax India new issue
« Reply #285 on: March 01, 2019, 04:09:57 PM »
Haven't Modi's reforms been somewhat lackluster anyway? I'm no expert on Indian politics, but from what I've read Modi isn't in trouble because people are sick of his reforms, it's that many people haven't seen any real progress. Though I'd be skeptical that the new Ghandi's could produce better results.

Txvestor

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Re: Fairfax India new issue
« Reply #286 on: March 02, 2019, 11:00:53 PM »
Modi reforms considered to favor the billionaire class and hurt the middle class. So some sheen has come off d agenda. In addition as mentioned here progress has been slower than people had hoped. It is correct that Congress and Gandhi unlikely to do anything positive. Most sensible people do realize that. Most likely scenario is a Modi minority gov't.

shalab

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Re: Fairfax India new issue
« Reply #287 on: March 03, 2019, 09:06:21 AM »
+1
India is essentially run by a couple of hundred billionaire families and their businesses. They are called the modern maharajas.

Modi government hasn't delivered on some of the reforms they promised (e.g:, removing retro-active tax on mergers) and they change the law to favor some of the above families. This was also the case with the previous government.

USA/India trade has gone up to 150B/year in 2018. Direct foreign investment is at 45 Billion in 2017. It won't matter who comes to power, this trend will continue.

If the FIH thesis depends on Modi being in power, Iíd recommend this not be a long term holding. As far as I know, Modi is mortal. I expect the basket of well bought growing businesses will outlast him or any other politicians.

The reality is that Indians have seen and tasted the future. They have tasted capitalistic progress and all the trappings that come with it. Even if the Congress comes back in power I donít expect India to close its borders again.