[FFH] Fairfax Financial
On what makes a great insurance company, Fairfax’s historical transformations, investment slump, underwriting tailwind, hard vs soft markets, culture, incentives, run rate profits, and price-to-book.
On what makes a great insurance company, Fairfax’s historical transformations, investment slump, underwriting tailwind, hard vs soft markets, culture, incentives, run rate profits, and price-to-book.
On the elevator oligopoly, the golden service market, economics of density, working capital benefits, innovation, China, and smart elevators.
On Adobe’s history, SaaS transition, creative monopoly, increased competition, Figma acquisition, and valuation.
In stock picking, deep research is necessary but so is studying the entire spectrum of companies.
Here’s how you can apply B.F. Skinner’s work to understanding market behavior and yourself.
My thoughts on Common Stocks and Uncommon Profits, Phil Fisher’s greatest book.
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