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Ridley Inc.: Attractive Price

Mon, 26 Oct 2009 15:42:51 GMT

Ridley Inc. (RCL) manufactures and sells animal nutrition products to North American meat, milk and egg producers. As such, it operates in a fairly stable industry, as demand for many feed products tends to hold steady through recessions. Despite the stability of this industry, and Ridley's role as one of the larger players with[More...]

Weekly Credit Summary: August 28

Fri, 28 Aug 2009 21:57:29 GMT

Credit underperformed equities this week as single-name tighteners edged wideners by four-to-three leaving indices (especially HY) underperforming intrinsics in general. CONSumer and ENRG names underperformed as TMT and FINLs were best with INDUstrials mixed. Financials outperformed non-financials but the strength in the former was more at the tails of the distribution while the weakness in the latter was more broad-based.[More...]

USG: Supply High, Demand Low, Pricing Still Improving

Fri, 24 Apr 2009 13:37:00 GMT

One aspect of my investing experience I feel I don’t talk about enough is the Boston College Investment Club (BCIC), where I am the Portfolio Manager. With 35 positions totaling about $200,000 and a very democratic process, being nimble is difficult and while that’s frustrating at times, overall we do well. There is always the possibility that a stock lingers in the portfolio too long, and if a position is down substantially there is a bias toward eliminating it, which is especially challenging in a year like this. Starting in October 2008, I tried to address this by creating a re-evaluation pitch format, where specific existing holdings that were down were either sold completely, or brought up to equal weight. The early results have been good, and the process has been adopted by others – something I hope continues, as it reinforces forward-looking thinking and creates a[More...]

Best Performing Stocks Of The Past Quarter

Thu, 04 Dec 2008 13:38:00 GMT

Back in early October I wrote in (Oct 1: Nowhere to Run, Nowhere to Hide) how there simply was no asset class (ex US Treasuries and US Dollar), no sector, no country to hide in. Everything stunk, and in fact it got worse in the ensuing weeks. September, October, November 2008 might be the worst 3 months ever (I don't have the date) but if not, it has to be in the top 3. We used to run a weekly screen here to identify areas of relative strength - it's been useless for months on end. But for curiousity sake I ran it to see the best performers over the past quarter. Criteria Market capitalization $1.50B+ Average trading volume 100K+Stock price $10+Return this[More...]

The 50/200 Cross: FFH and SAM

Fri, 14 Nov 2008 13:49:00 GMT

A stock scan performed after the close on Thursday for “the cross” found two stocks that might be instructive: Fairfax Financial Holdings (NYSE:FFH) The Boston Beer Company (NYSE:SAM) Fairfax Financial Holdings (FFH) FFH is the insurance (property & casualty) industry. Forbes wrote an interesting article about their CEO, The Man Who Beat The Shorts. [More...]

Ride The Wave Of Recovery When It Arrives - Investment Ideas

Mon, 27 Oct 2008 17:20:00 GMT

Fundamentally strong, bargain stocks that are poised to gain a lot of upside territory in a market recovery include SPAR, FFH, TBSI and FWLT. There has been a great deal of chatter about market bottoms amid the recent sell-offs of record proportions. As investors and observers debate over the number or range that will define a bottom, everyone seems to agree and history has proven that a recovery will ensue and will reward long-term investors. Investors, of course, will know the exact bottom and how long it took to get there after it was established, and nobody knows what kind of momentum to expect as stocks stage a turnaround. However, investors can prepare to catch the upside by picking fundamentally sound stocks at[More...]

Best Perfomers Over Last Quarter

Mon, 06 Oct 2008 06:14:00 GMT

It is a moot point looking at weekly winners this week; just a handful of stocks moving up led by such growers as Campbell Soup (CPB) aka "people will still need to eat soup if nothing else" trade. So instead I am going to look at the best and worst performers the past 3 months. In this post we have every stock over $1.25B in market cap returning 15%+ (115 stocks) Now keep in mind the data is a bit misleading because 3 months ago at this time we were in the throes of another painful correction, in a series of step ladders down. About 90 days ago Fannie and Freddie and Lehman were falling off a cliff, and we were just over a week away from Hank Paulson going to Congress to create a plan to backup Fannie/Freddie. So this was a "bottom" and the financials rallied hard for the next 6-7 weeks - Fannie/Freddie of course were officially taken over within 2 months from that point.[More...]

The Reality of Zero

Fri, 30 May 2008 21:20:43 GMT

You can slice it, you can dice it. You can even massage it and look on the bright side. But you still can't get blood out of a stone or, it seems, inflation-adjusted increases in consumer spending.[More...]

A Flight To Safety

Wed, 21 Nov 2007 14:38:40 GMT

Good morning. As Americans prepare for the Thanksgiving holiday tomorrow, markets around the world are under heavy pressure. Record oil prices and concerns over the unwinding of the carry trade dominate. Not helping matters here include some disappointing reports from retailers (see ANF, CHRS, LTD). As a clear sign of a flight to safety, yields on the 10-year Treasury notes fell below 4% for the first time since September...[More...]

Fairfax Financial Holdings Limited: Third Quarter Financial Results

Thu, 29 Oct 2009 21:47:00 GMT

(Note: All dollar amounts in this news release are expressed in U.S. dollars, except as otherwise noted.)
Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH) announces increased net earnings of $562.4 million in the third quarter of 2009 ($31.04 per share and $30.88 per diluted share) compared to net earnings of $467.6 million in the third quarter of 2008 ($25.40 per share and $25.27 per diluted share).
- Operating income of the company's insurance and reinsurance operations (excluding net gains on investments) in the third quarter of 2009 increased to $133.0 million from an operating loss of $64.9 million in the third quarter of 2008, principally as a result of the above-described improved underwriting results and interest and dividend income.

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Fairfax Completes $250 Million Offering of Preferred Shares

Mon, 05 Oct 2009 13:49:00 GMT

(Note: All dollar amounts in this press release are expressed in Canadian dollars.)
Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH) has completed its previously announced public offering of Cumulative 5-Year Rate Reset Preferred Shares, Series C (the "Series C Shares") in Canada.
As a result of the underwriters exercising their $50 million option in full, Fairfax issued an additional 2,000,000 Series C Shares for a total issue of 10,000,000 Series C Shares and total gross proceeds of $250 million.

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PAKIT(TM) Inc. Announces $5 Million Financing By Fairfax

Wed, 30 Sep 2009 13:47:00 GMT

PAKIT Inc., a leading clean technology company that has developed a patented, industry-changing disruptive technology, today announced it has completed a $5 million financing with Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH).
The $5 million investment will enable PAKIT to expand its production capacity to meet equipment orders in the pipeline.
"The agreement with Fairfax strengthens our ability to accelerate PAKIT's emergence as the dominant global provider of sustainable technology for producing renewable, compostable and recyclable consumer product packaging," said Brian Birmingham, PAKIT Inc.'s President and CEO.

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Standard & Poor's annonce des modifications a certains indices canadiens S&P/TSX

Fri, 11 Sep 2009 21:12:00 GMT

TORONTO, le 11 sept. /CNW/ - Les services indiciels canadiens de Standard & Poor's apporteront les modifications suivantes a certains indices : - Fairfax Financial Holdings Limited (FFH a la Bourse de Toronto) a[More...]

Fairfax Confirms Sales of $1 Billion in Equity Offering

Tue, 08 Sep 2009 15:48:00 GMT

(Note: All dollar amounts in this press release are expressed in U.S. dollars.)
Fairfax intends to use the net proceeds of the offering to fund the previously announced proposed acquisition of all of the outstanding shares of common stock of Odyssey Re Holdings Corp. that it does not currently own.
If the acquisition is not successfully completed, Fairfax intends to use the net proceeds to augment its cash position, to increase short term investments and marketable securities held at the holding company level, to retire outstanding debt and other corporate obligations from time to time, and for general corporate purposes.

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OdysseyRe Receives Acquisition Proposal From Fairfax

Tue, 08 Sep 2009 13:47:00 GMT

Odyssey Re Holdings Corp. ("OdysseyRe") (NYSE: ORH) confirmed that it received on September 4, 2009 an unsolicited proposal from Fairfax Financial Holdings Limited ("Fairfax") (TSX and NYSE: FFH) to acquire all of the outstanding shares of common stock of OdysseyRe that it does not currently own for $60 per share in cash.
Fairfax currently owns approximately 72.6% of all outstanding shares of common stock of OdysseyRe.
Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of OdysseyRe to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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Fairfax Files Universal Shelf Prospectus

Tue, 25 Aug 2009 12:26:00 GMT

- Fairfax Financial Holdings Limited has filed a preliminary short form base shelf prospectus with the Canadian securities regulatory authorities.[More...]

Fairfax Completes Senior Notes Offering

Tue, 18 Aug 2009 13:19:00 GMT

TORONTO, ONTARIO -- -- 08/18/09 -- Fairfax Financial Holdings Limited has completed its previously announced offering of Cdn$400 million aggregate principal amount of 7.5% Senior Notes due August 19, 2019 at an issue price of 99.639. Net proceeds of the issue, after commissions and expenses of issue, are approximately Cdn$394.9 million.[More...]

Fairfax Increases Senior Notes Offering to Cdn $400 Million

Thu, 13 Aug 2009 15:30:00 GMT

TORONTO, ONTARIO -- -- 08/13/09 --[More...]

Fairfax Launches $150 Million Senior Notes Offering

Wed, 12 Aug 2009 13:52:00 GMT

Fairfax Launches $150 Million Senior Notes Offering[More...]