Francis Chou, who was born in India, relocated to Canada in pursuit of employment. In 1981, Chou created an investment club with $51,000 and the telephone repairmen of his coworkers. He met Prem Watsa, who went on to lead Fairfax as CEO. The Chou Associates Fund was started in 1986, and since then it has had an average annual return of 10.4% with only 8 years of losses. Over the last 15 years, the fund has grown by 6.43 percent annually, versus a 6.8 percent increase in the S&P 500 index. Assets are managed by Chou Associates Management for a number of Canadian citizens and companies. The Q1 portfolio of the hedge fund has a value of $187.96 million. Analysts look at a company’s earnings, cash flow trends, profitability, position in the industry, special traits, and prospects for future growth.
Insider Monkey stated the list of 10 stocks to buy according to Francis Chou’s Chou Associates Management. Financial services provider Wells Fargo & Company offers a variety of products. The quarterly sales, which came to $17.03 billion and fell short of expectations by $510 million, was down 16% from the same quarter in the previous year. The top shareholder of Magna International Inc., D E Shaw, with shares worth $42.42 million. In order to account for slower growth and credit concerns, Morgan Stanley lowered its projection for the car sector. In the fourth quarter of 2018, the hedge fund started increasing its ownership of the business. Chou Associates Management held 7,100 shares of The Goldman Sachs Group, Inc. for $2.34 million as of the first quarter of 2022. This made up 1.24 percent of the hedge fund’s investment portfolio. The Citi analyst reduced his $400 price objective to $360. Canadian software business BlackBerry Limited, which specializes in cybersecurity. As of February 28, 2022, it had more than 38,000 patents and applications worldwide. Compared to 15 funds at the end of the fourth quarter of 2021, 20 hedge funds had positions in BlackBerry Limited at the end of the first quarter of 2022. The hedge fund owned a $3.08 million stake in Citigroup Inc., which made up around 1.63 percent of Chou Associates Management’s total holdings. As of Q1, the largest stakeholder of Citigroup Inc. was Warren Buffett’s Berkshire Hathaway, which had about 55.16 million shares worth $2.95 billion. For more details, click 10 Stocks To Buy According To Francis Chou’s Chou Associates Management.
