|
Fairfax Financial
Fairfax Financial Holdings Limited is a Canadian financial holding company based in Toronto, Ontario, engaged in property, casualty, insurance and reinsurance, investment management, and insurance claims management. The company operates primarily through several subsidiaries, including Allied World, Odyssey Re, Northbridge Financial, Crum & Forster, Verassure Insurance, Onlia Agency Inc., and Zenith Insurance Company. The company was also the largest shareholder of Torstar with 40% of the Class B shares, as of May 2020. Fairfax is led by chairman and CEO Prem Watsa, who controls nearly half of the firm. History Markel Fairfax was incorporated as Markel Service of Canada on March 13, 1951, and continued under the Canada Business Corporations Act in 1976. The name was subsequently changed to Markel Financial Holdings Ltd. In 1984, Prem Watsa left GW Asset Management to found his own asset management firm, Hamblin Watsa Investment Counsel Ltd. together with his former boss fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listing (finance), listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation, though a corporation need not be a public company. In the United Kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Markel Corporation
Markel Group Inc. is a group of companies headquartered in Richmond, Virginia, and originally founded in 1930 as an insurance company. History Company founder Samuel A. Markel formed the Mutual Casualty Association and established the Mutual Casualty Company in Norfolk, Virginia. The company headquarters later moved to Richmond, Virginia. Sam Markel's four sons, Lewis, Irvin, Stanley, and Milton, joined the business in the 1930s, and Markel Service, Inc. was created. During this time, Markel was actively involved in efforts to develop safety and other standards aimed at legitimizing the growing bus and trucking industries. Markel also assisted in passing the National Motor Carrier Act of 1935. By the 1940s, Markel Service, Inc. earned a national following and developed a reputation for industry-leading claims adjusting and safety engineering. American Fidelity & Casualty, a sister company covering fleets of trucks and buses, also became the largest insurer of these risks in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Bubble
A housing bubble (or housing price bubble) is one of several types of asset price bubbles which periodically occur in the market. The basic concept of a housing bubble is the same as for other asset bubbles, consisting of two main phases. First there is a period where house prices increase dramatically, driven by real estate investing. In the second phase, house prices fall dramatically, making housing more affordable. Housing bubbles tend to be among the asset bubbles with the largest effect on the real economy because they are credit-fueled, and a large number of households participate and not just investors, and because the wealth effect from housing tends to be larger than for other types of financial assets. Housing bubble definition Most research papers on housing bubbles use standard asset price definitions. There are many definitions of bubbles. Most of them are normative definitions, like that of Joseph Stiglitz (1990),Stiglitz, J.E. (1990). “Symposium on bubbles” ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scion Capital
Scion Asset Management, LLC (Scion) is an American hedge fund headquartered based in California that is founded by Michael Burry. It is best known for profiting from the subprime mortgage crisis as well as paving the way for the GameStop short squeeze. Scion Capital In November 2000, Michael Burry started the hedge fund Scion Capital, funded by an inheritance and loans from his family. Joel Greenblatt's Gotham Capital was also an investor in it. Burry named the fund after Terry Brooks' '' The Scions of Shannara'' (1990), one of his favorite novels. He quickly earned extraordinary profits for his investors. According to author Michael Lewis, from 2001 to 2003, Scion beat the S&P 500 each year. By the end of 2004, Scion was managing $600 million but turned away further money as it was designed to be bad for business but good for investing. Scion was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. By the middl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Burry
Michael James Burry (; born June 19, 1971) is an American investor and hedge fund manager. He founded the hedge fund Scion Capital which now goes by the name Scion Asset Management. He is best known for being among the first investors to predict and profit from the subprime mortgage crisis as well as paving the way for the GameStop short squeeze. Early life and education Burry was born and grew up in San Jose, California. He has Rusyn ancestry. At the age of two he lost his left eye to retinoblastoma and has had a prosthetic eye ever since. As a teenager, he attended Santa Teresa High School. He studied economics and pre-med at the University of California, Los Angeles, earned an MD degree from the Vanderbilt University School of Medicine in 1997, and started but did not finish his residency in neurology at Stanford University Medical Center. While off duty at night, he worked on his hobby: financial investing. Despite not practicing, Burry has kept his license as a ph ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tiger Management Corp
The tiger (''Panthera tigris'') is a large cat and a member of the genus ''Panthera'' native to Asia. It has a powerful, muscular body with a large head and paws, a long tail and orange fur with black, mostly vertical stripes. It is traditionally classified into nine recent subspecies, though some recognise only two subspecies, mainland Asian tigers and the island tigers of the Sunda Islands. Throughout the tiger's range, it inhabits mainly forests, from coniferous and temperate broadleaf and mixed forests in the Russian Far East and Northeast China to tropical and subtropical moist broadleaf forests on the Indian subcontinent and Southeast Asia. The tiger is an apex predator and preys mainly on ungulates, which it takes by ambush. It lives a mostly solitary life and occupies home ranges, defending these from individuals of the same sex. The range of a male tiger overlaps with that of multiple females with whom he mates. Females give birth to usually two or three cubs that sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Julian Robertson
Julian Hart Robertson Jr. (June 25, 1932 – August 23, 2022) was an American hedge fund manager, and philanthropist. Robertson founded Tiger Management, one of the first hedge funds, in 1980. From its inception in 1980 to its 1998 asset peak, his fund returned 31.7% per year after fees, compared to a 12.7% annual return from the S&P 500 over the same period. However, a sharp decline thereafter led to the fund closing in March 2000. Tiger showed losses in only four of its 21 years. Robertson later mentored and provided seed funding to many notable hedge fund managers, known as the ''Tiger cubs'', including Ole Andreas Halvorsen, Stephen Mandel of Lone Pine Capital, Lee Ainslie of Maverick Capital, Bill Hwang, and Chase Coleman III. During his lifetime, Robertson contributed more than US$2 billion to charity. He was also a signatory to The Giving Pledge. At the time of his death, his net worth was estimated at $4.8 billion. Early life Robertson was born on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Lahde
Andrew Lahde is a retired hedge fund manager, who founded Lahde Capital in Santa Monica, California. Lahde received fame for his return rates in 2007. He also gained attention for the nature of his retirement, which he announced through a letter that skewered the business culture in America. Education Lahde earned a bachelor's degree in finance from Michigan State University and an MBA from the Anderson School of Business at the University of California Los Angeles. Career Lahde founded his own hedge fund, Lahde Capital, which was based out of Santa Monica. The fund speculated on increases of U.S. subprime mortgage defaults. Lahde's hedge fund strategy was based on his knowledge of real estate, real estate finance, the complex world of securitized real estate finance, and various financial vehicles associated with the transactions. What differentiated Lahde from many other hedge fund operations was an understanding of the underlying asset, residential real estate. In September ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kyle Bass
J. Kyle Bass is an American investor and founder of Conservation Equity Management, a Texas-based private equity firm focused on environmental sustainability. He is also the founder and principal of Hayman Capital Management, L.P., a Dallas-based hedge fund focused on global events. In 2008, Bass successfully predicted and effectively bet against the U.S. subprime mortgage crisis by purchasing credit default swaps on subprime securities, which, in turn, increased in value when the real estate bubble burst. As a manager of the Coalition for Affordable Drugs (CFAD), Bass challenged the validity of 28 pharmaceutical corporations' patents via inter partes review, claiming that he wanted to invalidate weak patents imposing costs on consumers, thus making drugs covered by those patents more affordable. The drug companies targeted by Bass allege that the sole purpose of the validity challenges was to allow Bass to short the market, thereby profiting from the change in companies' s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paulson & Co
People with the name Paulson or its variant spellings include: * Allen E. Paulson (1922–2000), American businessman * Andrew Paulson (1958–2017), American businessman * Barbara Paulson (1928–2023), American human computer * Bjørn Paulson (1923–2008), Norwegian athlete * David Paulson (born 1989), American football player * David E. Paulson (1931–2015), American farmer and politician * Dennis Paulson (born 1962), American professional golfer * Erik Paulson (born 1966), American mixed martial artist * Harvey N. Paulson (1903–1993), American farmer and politician * Henry "Hank" Paulson (born 1946), American banker and former U.S. Treasury Secretary * Jacob Paulson (born 1998), Australian rapper, singer, and songwriter, known professionally as JK-47 * Jay Paulson, also known as Jay, (born 1978), American actor * John Paulson (born 1955), American hedge fund manager * Jeanne Paulson, American actress * Lawrence Paulson (born 1955), American computer scientist * Mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Paulson
John Alfred Paulson (born December 14, 1955) is an American billionaire hedge fund manager. He leads Paulson & Co., a New York–based investment management firm he founded in 1994. He has been called "one of the most prominent names in high finance". He acquired much of his fortune in 2007 when he earned almost $4 billion and was transformed "from an obscure money manager into a financial legend""John Paulson's Very Bad Year" By Sheelah Kolhatkar, businessweek.com, June 28, 2012 by using credit default swaps to effectively bet against the [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Japanese Asset Price Bubble
The was an economic bubble in Japan from 1986 to 1991 in which real estate and stock market prices were greatly inflated. In early 1992, this price bubble burst and the country's economy stagnated. The bubble was characterized by rapid acceleration of asset prices and overheated economic activity, as well as an uncontrolled money supply and credit expansion.Kunio Okina, Masaaki Shirakawa, and Shigenori Shiratsuka (February 2001):The Asset Price Bubble and Monetary Policy: Japan's Experience in the Late 1980s and the Lessons More specifically, over-confidence and speculation regarding asset and stock prices were closely associated with excessive monetary easing policy at the time.Edgardo Demaestri, Pietro Masci (2003): Financial Crises in Japan and Latin America, Inter-American Development Bank Through the creation of economic policies that cultivated the marketability of assets, eased the access to credit, and encouraged speculation, the Japanese government started a prolon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
