Selling at nearly 1.1x reported book value, Fairfax Financial Holdings Limited (FRFHF) is finally worth buying.
The last few years, book value at the company has been at a near standstill, thanks to a disastrous short position. Fearing deflation and falling stock values, Prem Watsa, CEO of Fairfax, shorted the US and Canadian stock markets.
But after exiting the position in 2016, the company is now poised to grow again. Shareholders should also expect improving P/B multiples for the insurance and reinsurance sectors, thanks to recent tailwinds.
The Canadian-based investment company has been smartly positioning