Fairfax Financial Holdings Ltd., the Canadian investment firm led by Prem Watsa, is in advanced talks to buy control of Indonesian financial group PT Paninvest's non-life insurance unit, people with knowledge of the matter said.
Watsa has grown Fairfax Financial Holdings Ltd's (TSX:FFH) book value by more than 20% per year. To accomplish that consistently over 30 years just goes to show how remarkable Watsa's abilities really are.
After the TSX Composite Index slid last week, we woke up on Monday morning to what appeared to be a bloodbath in progress. At one point, the market was down more than 700 points, as investors panicked and told their brokers to sell.
Fairfax Financial Holdings Ltd. is expected to post strong first quarter results on April 28, but one analyst believes its current portfolio positioning will generate little to no book value growth over the longer term.