David Thomas, author of The Fairfax Way (amazon link: https://amzn.to/4adQ7JS ), comes on the podcast for a wide-ranging podcast on Fairfax, including the company's origins, macro wins, missteps in insurance, and what the future looks like for Fairfax as Prem approaches his 80s. __________________________________________________________ [00:00:00] Andrew returns with David Thomas [00:02:31] David’s background in business journalism [00:06:25] Fairfax’s long-term investment returns [00:08:16] Evolution of investment and insurance strategy [00:13:01] Fairfax’s stock picking and equity style [00:16:39] Inflation themes in stock selection [00:20:32] BlackBerry investment strategy and challenges [00:24:14] Macro success: shorting housing and tech [00:29:20] 2010–2016 bearish misstep reflection [00:35:12] Politics influence on macro decisions [00:36:56] Prem’s current macro outlook [00:40:55] Discussion of Fairfax valuation [00:41:34] Book value and buyback logic [00:44:28] Overview of the short seller campaign [00:49:04] Perspective on Fairfax's hedge fund lawsuit[00:51:14] Succession planning at Fairfax [00:53:44] Stability of all business segments [00:57:45] 15% target: still realistic? Links: Yet Another Value Blog - https://www.yetanothervalueblog.com See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer
