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Fairfax Financial Holdings Ltd
Symbol FFH
Shares Issued 23,004,207
Close 2017-05-18 C$ 596.21
Market Cap C$ 13,715,338,255
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FP says Fairfax's Watsa warns again housing overvalued

2017-05-19 08:42 ET - In the News

The Financial Post reports in its Friday edition that Fairfax Financial Holdings boss Prem Watsa continues to warn that Canada's housing market is overvalued. The Post's Peter Kuitenbrouwer writes that Mr. Watsa says: "Anything that goes up significantly and so quickly in the past has tended to come down. I hope it doesn't happen, but I'd be careful. Buy a home for your family, not an investment." Mr. Watsa says Fairfax has succeeded through his kinder, gentler style of investment. Fairfax, which stands for "fair, friendly acquisitions," has never done a hostile takeover. Mr. Watsa says: "We've got many people who want to join our company because of this culture: team-oriented, treating people well. That's our competitive advantage, in a sense." No president has ever left Fairfax after it came under the Fairfax umbrella, notes Mr. Watsa. Fairfax is decentralized, with just 35 people in its Toronto head office, and gives the presidents of its divisions autonomy. The Bank of Ireland restructuring succeeded, Mr. Watsa says, because he and other investors left in place Richie Boucher, the chief executive officer. He says: "Every bank went bankrupt. The only one that survived was the Bank of Ireland."

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