In his 2023 Shareholder Letter, Prem Watsa, often called the “Warren Buffett of the North,” issued a rare and candid mea culpa that offers a sobering lesson in humility, risk, and the unpredictability of technology investing. Watsa laid bare his investment in BlackBerry, a bet that spanned over a decade … Read More
Prem Watsa: Knowing When To Shift from Defense to Offense
I often reflect on my past investment predictions and decisions—what went right, what went wrong, and what I can learn going forward. As I looked back, I was reading the Fairfax Financial 2017 Letter, which included an observation Prem Watsa made in 2011: “The major risks for the economy would … Read More
Robert Vinall: RV Capital 10 Year Anniversary Letter
We’ve just finished reading RV Capital’s 10 Year Anniversary Letter. In it Robert Vinall discusses his ‘aha’ moment as it relates to value investing, and the key determinant of an investment outcome, which he discovered while analyzing his previous investments. Here are some excerpts from that letter: The Aha Moment … Read More