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Dear Partner 👋
As you are reading this, I’ll be high in the sky.
Why? I’m flying from Brussels to Omaha to attend the Berkshire AGM.
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This will be the fourth year in a row that I attend the Berkshire AGM.
My schedule looks as follows:
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If you’re in Omaha as well, just let me know and you’re very welcome to attend the meetup TJ and I are organizing.
When: Saturday 2 May between 8:15 PM and 10:15 PM
Where: Howard & Fine (inside Moe & Curly’s Pub and Grill - Omaha)
Register here for free:
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The Fairfax Way
As this will be the first AGM since Warren Buffett ‘retired’, the big question is how Berkshire Hathaway will evolve from here.
I don’t think there is a next Berkshire Hathaway out there.
However, there are some companies that come close.
A book I recently read? The Fairfax Way.
The book tells the story of how Prem Watsa copied Berkshire Hathaway’s business model and became tremendously successful over time.
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When Prem Watsa took charge of Faifax in 1985, the company traded at a stock price of 3.25 CAD.
Today Fairfax’s stock price equals 2,346 CAD.
That’s almost a 1.000-bagger (!).
It’s an understatement saying that Prem Watsa has done a tremendous job at Fairfax.
It’s no coincidence that people call him the Canadian Warren Buffett.
The shareholder letters of Prem Watsa are a must read. You can find them here.
(I am currently reading them on my flight to Omaha).