Bill Brewster Charles Frischer I think it’s a mistake for investors to project their investment style on to $FFH.TO. There will be mistakes for sure but returns on the portfolio are solid. With $UA in particular, long term partner, BDT Capital also owns ~15% and is tight with founder/CEO. Another jockey bet.

$ELD.TO acquiring $FFH.TO holding $FOM.TO in a zero premium all stock deal. A bit surprising no lock up signed by any of the large FOM shareholders. I didn’t think FFH was looking to exit anytime soon but they will have the liquidity to do so now if they wish.

Anyone familiar with $ESI.to? Murray Edwards at 23%, $FFH.to at 20%. Interesting bedfellows.

I own a lot of $FFH.TO and $ELF.TO. Both globally diversified investment portfolios with cheap leverage and insider alignment trading at giant discounts to liquidation value.

Cool thing about $GFR.TO $GFR is that almost every one that wanted to sell sold before the rights issue. Should have a lot of beta to oil as the multiple expands on flows. Float is tight as WEF III owns over 70%.

It’s idiosyncratic and the reaction is dependent on flows but people really like heuristics.

Jeff and I used to work together at UBS back when he was in equity research. I’m a fan. Looking forward to listening to this one.

$mko.v #tungsten We are going to be taking our tungsten project at Mt Hamilton much more seriously. Stay tuned.

I think it makes more sense for $GFR.TO. If it’s an all stock deal, it could result in index inclusion which might accelerate the rerating. A recent VIC on $GFR suggested KNOC’s Blackgold as well. I think Grizzly Oil might be a possible addition at some point too.

John Mihaljevic Just one further though Fairfax Financial $FFH.TO is also a prime example of this. They are aggressively accumulating what I call the 'bottom rungs of Maslow’s Hierarchy' - essential, physical inputs. It’s easy to dismiss this as just deep value but perhaps 'boring and

$NN

TF Metals Report Check out Mako mining $mko.v. silver/gold mines, already producing and a recently acquired tungensten project located right in the US in Nevada at Mt Hamilton.

Interesting analysis from this AI on $FFH.TO. Some insights and some nonsense. Also, like the analysts, it ignores the third engine of the flywheel, the equity portfolio that is as big as shareholder’s equity. I assume trailing P/E is wrong b/c it pulls adj. EPS. TTM PE is 8.2x.

$NN I have some thoughts I would like to share about two recent articles in Communications Daily, the preeminent industry publication covering all things FCC.

Some info on size and pricing of $AGTF.TO

$FIH.U $FFH.TO Anyone have thoughts on the timeline?

$FFH.TO $AGTF.TO

It’s weird how commentators mention Prem and not $FFH.TO.

Great comment. A couple of additions: sale of Eurolife will likely close in Q1; proceeds of $940M will be reinvested (takeout of minority shareholder in Allied World?). Take private of Kennedy Wilson is also in the works. Looking forward to when $FFH.TO reports YE results. $KW

$FIH.U $FFH.TO This deal has the potential to be transformational for FIH especially if it includes a GP/LP structure with it as the GP and FFH along with other investors as LPs. The fees earned could offset fees paid to FFH which is a hang up for value investors.