Author Topic: Fairfax 2020  (Read 206935 times)

Xerxes

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Re: Fairfax 2020
« Reply #440 on: June 15, 2020, 04:20:11 PM »
Just to give this context.
Common share dividends is about $275 million.
8% of that is $22 million in dividend cash payment.

So the $150 million that he put in is 6-7 times the size of his annual dividends.
Assuming my math is correct this must be a good.



StubbleJumper

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Re: Fairfax 2020
« Reply #441 on: June 15, 2020, 04:24:17 PM »
Just to give this context.
Common share dividends is about $275 million.
8% of that is $22 million in dividend cash payment.

So the $150 million that he put in is 6-7 times the size of his annual dividends.
Assuming my math is correct this must be a good.


So, you are suggesting that if Prem might have had ~US$150m laying around if he had racked up ~10-12 years of divvies, paid the dividend taxes and then didn't go crazy on spending in his personal life?  That's definitely plausible.


SJ

Xerxes

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Re: Fairfax 2020
« Reply #442 on: June 15, 2020, 04:57:46 PM »
Not at all.
I was just giving scale to his $150 million. Which at first I struggled to categorize as significantly big or just ok.
 
That was my way of saying if he is getting this much every January from his captive investment so a number that is multi fold greater must be viewed as a significant purchase.

Parsad

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Re: Fairfax 2020
« Reply #443 on: June 15, 2020, 10:32:15 PM »
Not at all.
I was just giving scale to his $150 million. Which at first I struggled to categorize as significantly big or just ok.
 
That was my way of saying if he is getting this much every January from his captive investment so a number that is multi fold greater must be viewed as a significant purchase.

I would assume that Prem has about $200-250M outside of his Fairfax stock at a minimum before the stock purchase.  He's stated numerous times that 90% of his net worth is in Fairfax...which would be about $1.5B or so before the stock market correction.  So in relation to his net worth, it is probably the most substantial purchase of Fairfax stock that I have seen him make...and I'm going back 20 years!  It was at 0.6 times book for God's sake.  We had not seen that since 2003-2007.  Cheers!
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John Hjorth

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Re: Fairfax 2020
« Reply #444 on: June 16, 2020, 01:34:08 AM »
These purchases have taken place in Mr. Watsa's personal account, right? Does anyone here on CoBF know, if the controlling shareholding in FFH is still in that legal entity called Sixty Two Company [or something like that] ?


Edit: Fixed typo.
« Last Edit: June 16, 2020, 04:16:54 AM by John Hjorth »
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petec

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Re: Fairfax 2020
« Reply #445 on: June 16, 2020, 04:12:56 AM »
These purchases have taken place in in Mr. Watsa's personal account, right? Does anyone here on CoBF know, if the controlling shareholding in FFH is still in that legal entity called Sixty Two Company [or something like that] ?

I believe it is.
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John Hjorth

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Re: Fairfax 2020
« Reply #446 on: June 16, 2020, 04:16:00 AM »
Thank you, Pete.
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

Cigarbutt

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Re: Fairfax 2020
« Reply #447 on: June 16, 2020, 04:31:14 AM »
From this year's proxy:
"The Sixty Two Investment Company Limited (‘‘Sixty Two’’) owns 50,620 subordinate voting shares and 1,548,000 multiple voting shares, representing 41.9% of the total votes attached to all classes of our shares (100% of the total votes attached to the multiple voting shares and 0.2% of the total votes attached to the subordinate voting shares). V. Prem Watsa, our Chairman and Chief Executive Officer, controls Sixty Two and himself beneficially owns an additional 258,790 subordinate voting shares and exercises control or direction over an additional 2,100 subordinate voting shares. These shares, together with the shares owned directly by Sixty Two, represent 42.5% of the total votes attached to all classes of our shares (100% of the total votes attached to the multiple voting shares and 1.2% of the total votes attached to the subordinate voting shares)."

For context:
https://s1.q4cdn.com/579586326/files/doc_downloads/shareholder_letters/1992-Letter.pdf

villainx

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Re: Fairfax 2020
« Reply #448 on: June 16, 2020, 10:28:46 AM »
This is with Fairfax not doing share buybacks, right?

petec

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Re: Fairfax 2020
« Reply #449 on: June 16, 2020, 02:24:36 PM »
This is with Fairfax not doing share buybacks, right?

They are buying back. Or at least they were in April, which is the last data I saw.
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