The hosts believe Fairfax Financial is worth buying because it has grown its intrinsic value at roughly 19% a year since 1985, now runs a profitable insurance operation that generates about $41 billion in investable cash, and is led by a CEO who thinks and acts like an owner — making it a potential long-term compounder in the mold of Berkshire Hathaway, if it can keep up that pace.
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The Intrinsic Value Podcast still holds Alphabet and isn't selling even after the stock doubled, because they believe the underlying business has grown enough to justify the higher price rather than making it expensive.
The hosts of the podcast bought Reddit stock and haven't sold, arguing that even after it has risen roughly as much as Alphabet over the same period, the underlying business is still worth holding at today's price.