Above the Fray

Category Archives: Uncategorized

BFM

  As you probably know, we have a significant portion of our capital allocated to Berkshire Hathaway, Fairfax Financial and Markel Corporation. While the three companies do have some important differences, they are all also remarkably similar. Berkshire, Fairfax and … Continue reading »

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Rudyard’s Reflections on Investing

One of my favourite poems is “IF” by Rudyard Kipling. Last Thursday, on a day when the Dow Jones Industrial Average declined by over 800 points, the following amusing and wonderful paraphrase of Rudyard Kipling’s great poem, as written by … Continue reading »

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A Misunderstood and Underappreciated Investment Technique

Over the years, event driven investing (or “arbitrage” as it is also called) has been an important component of our investment activity with the capital that has been entrusted to our care. I find it interesting and somewhat bewildering that … Continue reading »

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Creating Serenity

Since I began my career as a professional investment manager, I have always spent time thinking about what inputs are necessary to create an ideal environment for optimal investment decision making. While this topic has been getting more attention from … Continue reading »

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A Necessary Marriage

There has been much discussion in the media recently about investment firm 3G Capital. The firm was founded in 2004 by Brazilians Jorge Paulo Lemann, Carlos Alberto Sicupira, Marcel Herrmann Telles and two others. Jorge Paulo Lemann is widely acknowledged … Continue reading »

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Pilgrimage to Omaha

As most of you know, I have been a long time admirer of Warren Buffett, Charlie Munger and Berkshire Hathaway. I am also pleased to report that our two funds have been long time Berkshire shareholders. I recently returned from … Continue reading »

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Field Report: Ireland

I recently returned from a trip to Ireland. While the purpose of my trip was more vacation than business, I did manage to squeeze in a couple of meetings and site visits that have reconfirmed my enthusiasm for our long … Continue reading »

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Creating Shared Value

Corporate Social Responsibility, commonly referred to as CSR, is the new “new thing” in business circles. I must confess that I have been somewhat skeptical about this trend as I have worried that it has been nothing more than a … Continue reading »

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The Dangers of Baton Passing

I am always amazed at how vilified Steve Ballmer, the CEO of Microsoft, is by investors and the media. From what is written and said, you could easily infer that he has driven Microsoft into bankruptcy during his time at … Continue reading »

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When Irish Eyes Are Smiling

I last blogged about BlackBerry in January. Since that time, BlackBerry has continued to be in the news virtually every day and there has been no let up in the negative views being expressed about the company. I readily admit … Continue reading »

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