<p>David Thomas, author of<a href="https://amzn.to/4adQ7JS" target="_blank" rel="ugc noopener noreferrer"> The Fairfax Way (amazon link: https://amzn.to/4adQ7JS</a>), comes on the podcast for a wide-ranging podcast on Fairfax, including the company's origins, macro wins, missteps in insurance, and what the future looks like for Fairfax as Prem approaches his 80s.</p><p>__________________________________________________________</p><p>[00:00:00] Andrew returns with David Thomas</p><p>[00:02:31] David’s background in business journalism</p><p>[00:06:25] Fairfax’s long-term investment returns</p><p>[00:08:16] Evolution of investment and insurance strategy</p><p>[00:13:01] Fairfax’s stock picking and equity style</p><p>[00:16:39] Inflation themes in stock selection</p><p>[00:20:32] BlackBerry investment strategy and challenges</p><p>[00:24:14] Macro success: shorting housing and tech</p><p>[00:29:20] 2010–2016 bearish misstep reflection</p><p>[00:35:12] Politics influence on macro decisions</p><p>[00:36:56] Prem’s current macro outlook</p><p>[00:40:55] Discussion of Fairfax valuation</p><p>[00:41:34] Book value and buyback logic</p><p>[00:44:28] Overview of the short seller campaign</p><p>[00:49:04] Perspective on Fairfax's hedge fund lawsuit[00:51:14] Succession planning at Fairfax</p><p>[00:53:44] Stability of all business segments</p><p>[00:57:45] 15% target: still realistic?</p><p>Links:</p><p>Yet Another Value Blog - https://www.yetanothervalueblog.com </p><p>See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer</p>