Author Topic: Fairfax India new issue  (Read 214423 times)

changegonnacome

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Re: Fairfax India new issue
« Reply #440 on: November 16, 2020, 06:29:21 PM »
Karthikpm: There does now appear to be a US based OTC ticker for Fairfax India:

   http://www.morningstar.com/stocks/PINX/FFXDF/quote.html

I wonder if this is an ADR?

Interactive Brokers doesn't seem to list FFXDF though, only FIH.U.

Theoretically, does anyone know if buying an OTC stock instead of a Canadian one might be a way of getting around the potential FPIC tax problem referred to earlier in this thread for US investors?

Warmly,
jimjam

Digging up the graveyard here - but did anyone ever get full clarity on this - is Fairfax India deemed a FPIC? Built a position over the past few months and came across this wrinkle!

If no 100% clarity on & if holding a FPIC in a personal US brokerage account - when selling at a capital gain does the IRS easily flag an instrument as a FPIC......I've a note in with my CPA but suspect there might be knowledge on here


hobbit

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Re: Fairfax India new issue
« Reply #441 on: November 19, 2020, 07:51:50 PM »
https://www.business-standard.com/article/finance/explained-how-the-kerala-based-csb-bank-made-a-dramatic-turnaround-120111801497_1.html

Essentially -

New Mgmt with Fairfax appointed CEO

Sacked around 1200 people , average age of employees dropped from 50 to 36, productivity went up . Labour cost to income was 26 % as compared to industry average of 10 . it came down from 26 to 15 % in 1.5 years

Cut down on corporate lending , increased focus on retail ( gold ) and SMEs . Had earlier struggled with high NPAs in corporate lending

Forecasting growth of 25% and looking to acquire another mid sized bank

« Last Edit: November 19, 2020, 07:58:40 PM by hobbit »

drzola

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Re: Fairfax India new issue
« Reply #442 on: December 02, 2020, 04:18:37 AM »

wondering

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Re: Fairfax India new issue
« Reply #443 on: December 13, 2020, 07:52:11 AM »
https://www.youtube.com/watch?v=XiYRYlKteGU&t=1660s

Probably only applicable to the hardcore Prem fans and FIH fans.  The above link is virtual conference chaired by Prem regarding the current state India economy (uploaded Nov 12 - with regards to current covid case load and death rate situation this video is already stale-dated)

Observations

- India economy is growing again
- Prem described Deepak Parekh's HDFC bank as the best bank in India.  What about CSB bank?????


Viking

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Re: Fairfax India new issue
« Reply #444 on: December 13, 2020, 10:30:17 AM »
https://www.business-standard.com/article/finance/explained-how-the-kerala-based-csb-bank-made-a-dramatic-turnaround-120111801497_1.html

Essentially -

New Mgmt with Fairfax appointed CEO

Sacked around 1200 people , average age of employees dropped from 50 to 36, productivity went up . Labour cost to income was 26 % as compared to industry average of 10 . it came down from 26 to 15 % in 1.5 years

Cut down on corporate lending , increased focus on retail ( gold ) and SMEs . Had earlier struggled with high NPAs in corporate lending

Forecasting growth of 25% and looking to acquire another mid sized bank

Here is a link to the story that is not password protected. It is certainly encouraging to read about Fairfax investments that have the wing at their back. Most financials are still trading well below their year end 2019 stock price; CSB Bank is flat which shows nice outperformance.

- https://www.rediff.com/business/special/how-kerala-based-csb-bank-made-a-dramatic-turnaround/20201127.htm

petec

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Re: Fairfax India new issue
« Reply #445 on: December 13, 2020, 01:40:13 PM »
- Prem described Deepak Parekh's HDFC bank as the best bank in India.  What about CSB bank?????

Thereís no comparison and Iím glad Prem isnít deluded enough to think there is!

It will be interesting to see what they can do with CSB over the next decade, though.
FFH MSFT BRK BAM ATCO LNG TFG

Xerxes

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Re: Fairfax India new issue
« Reply #446 on: December 13, 2020, 02:30:56 PM »
https://www.youtube.com/watch?v=XiYRYlKteGU&t=1660s

Probably only applicable to the hardcore Prem fans and FIH fans.  The above link is virtual conference chaired by Prem regarding the current state India economy (uploaded Nov 12 - with regards to current covid case load and death rate situation this video is already stale-dated)

Observations

- India economy is growing again
- Prem described Deepak Parekh's HDFC bank as the best bank in India.  What about CSB bank?????

Thanks for posting. i am pretty sure i wouldnt have come across that on my own.
HDFC even made it on The Economist several times.

https://www.economist.com/finance-and-economics/2020/10/29/who-is-the-worlds-best-banker

hobbit

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Re: Fairfax India new issue
« Reply #447 on: December 31, 2020, 12:49:42 AM »
Fair to assume Bangalore airport deal with OMERS did not close this quarter ? or they would have provided an update


hobbit

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Re: Fairfax India new issue
« Reply #449 on: February 10, 2021, 06:54:50 AM »
they are up 150mil + on just their IIFL holdings in the past 1 month