Charles Frischer and Asheef Lalani stop by The Business Brew to discuss why they like Fairfax as an investment. Quick reminder to do your own work!!!

Asheef Lalani as an independent director to the board of Sailfish Royalty Corp. Mr. Lalani graduated from the University of Waterloo with a Bachelor of Mathematics and Masters of Accounting, earned the CA/CPA designation in 2002 and is a CFA charterholder since 2003. Asheef first started his career with PricewaterhouseCoopers in 1998 and went on to become a portfolio manager at UBS Securities. Currently, Mr. Lalani is the Chief Investment Officer at Berczy Park Capital – a private family office in Toronto, Canada. Charles Frischer is General Partner of LFF Partners, a family office based in Seattle. Mr. Frischer was a multi-family loan underwriter and originator at Capri Capital for 10 years. As a Principal at Zephyr for 4 years, he was responsible for the asset management of more than 5,000 multi-family units and all related financings of the portfolio. Frischer sits on the Board of Kingsway Financial and Altisource Asset Management. He attended his first Berkshire annual meeting in 1998, his first Market annual meeting in 1999 and his first Fairfax annual meeting in 2010. He holds an B.A. in Government from the College of Arts and Sciences from Cornell University.

Sponsor Info:

⁠⁠Daloopa ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠Daloopa ⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to ake the most informed decisions in the shortest amount of time. ⁠⁠Daloopa ⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠Daloopa ⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations. Our data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠Daloopa’s ⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

Bulge-bracket banks and major multi-managers are trusting Daloopa for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.

Visit ⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠ to create a free account and learn more about how ⁠⁠Daloopa ⁠⁠can help increase your team’s speed to differentiated insight.

Detailed Show Notes

4:24 - Backgrounds

9:01 - Fairfax gets interesting in Asheef's mind

11:43 - Pushback to the thesis

13:00 - Does Fairfax underwrite well?

17:00 - Why insurance companies shouldn't under reserve

25:00 - How good is Fairfax at investing in equities?

30:00 - The potential upside India brings to Fairfax

34:20 - Fairfax India background

42:55 - What people might not like about Fairfax India

45:40 - Fairfax's advantages

56:40 - What is the catalyst here?

62:00 - Does this pitch even need a catalyst?

64:00 - What does a bad outcome look like?

II – Dias 290 a 295 | Medo e Delírio em Buenos Aires | 18 a 23/10/23