Does Prem Watsa have to prove himself to you?
The man in charge of Fairfax Financial Holdings Ltd., often called “Canada’s Warren Buffett,” is richer and smarter than you or I, as some readers have pointed out when I’ve written pieces skeptical of the doings at his insurance-and-investing concern. However, by the end of 2016, Fairfax’s book value has shown little growth from several years before. The big culprit last year was the choice, in the waning weeks of 2016, to unwind long-standing multibillion-dollar wagers that the U.S. equity market was poised to decline.Report Typo/Error
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