From wildfires to foreign currency losses, there was a lot of noise to filter in Fairfax’s 2018 earnings report. Yet the company performed admirably maintaining its focus on operating excellence and staying within its value investing roots. In the years to come given a stronger focus on share repurchases, Fairfax should be on its way to meeting its 15% book value per share growth target.
But buyers beware, as this year’s performance demonstrated, the ride will no doubt be bumpy.
Insurance and Reinsurance is in strong shape
Fairfax’s insurance and reinsurance businesses rebounded from the