Hi @Marianne_Palmu and @Kaisa_Vanha-Perttula, thank you for the Femme portfolio’s VISA update. It was a very interesting video, made with a really nice touch. 
In the video, you mentioned some of your investment criteria (e.g., long-term perspective, moats, diversification, sustainability). That made me wonder what you think about the Canadian company Fairfax Financial Holdings from the insurance industry, as I believe it could also fit those investment criteria.
The company has grown its book value per share (BVPS) annually by an average of ~19% during its existence, approximately 40 years. In four-to-five-year review periods, BVPS growth has been negative only once, from 2001-2005. One might imagine that with high compound growth figures, one would have to pay a hefty price for the company, but the valuation is actually quite moderate at the moment. P/E estimates for 2025, 2026, and 2027 are around 9 (vs. e.g., Sampo 2025e 18). P/B 2025e is approximately 1.4. This could be a stock for the portfolio that one could own for years - or decades. The company’s owned businesses are diversified globally, and it has a long tradition in capital allocation. The company also has quite sympathetic values. It would be nice to hear if there’s any potential here for the Femme portfolio. 
There is also a thread about Fairfax on the forum, where there is a bit more discussion.
https://forum.inderes.com/t/fairfax-financial-holdings/64741
And a North American discussion forum dedicated solely to discussing Fairfax.
https://thecobf.com/forum/5-fairfax-financial/
You might already know the company, but I included the links anyway.
Have a nice start to the week!
