2015 PORTFOLIO UPDATE

FAIRFAX FINANCIAL HOLDINGS               50% POSITION

FAIRFAX INDIA HOLDINGS                         25% POSITION

CASH                                                                 25% POSITION






I HAVE ALWAYS LEFT MY PORTFOLIO UNCHANGED ONCE POSTED BUT BECAUSE FAIRFAX INDIA WAS NOT IN EXISTENCE UNTIL JANUARY 30 2015 I'VE USED SOME OF THE CASH TO TAKE A POSITION AS THIS IS A GREAT USE OF CASH IN MY OPINION.

AS WE MARK THE 6TH YEAR OF THE BULL MARKET I'M MORE CONVINCED THAT A MAJOR CORRECTION WILL TAKE PLACE THROWING THE MARKET INTO A RECESSION AND EVEN DEEPER DEFLATION THAN ALREADY EXISTS.