The Globe and Mail reports in its Wednesday, Nov. 12, edition that in 2017, Fairfax Financial Holdings, 32 years old, experienced a pivotal moment. The Globe's guest columnist David Thomas writes that while few recognized it at the time, the firm was poised to enjoy the fruits of its extraordinary growth, marking a significant arrival in its journey. In the mid-2010s, Fairfax reset its value strategy, moving past deflation concerns and gearing up for rising inflation and bond yields. It also meant eliminating unsuitable short sales through equity hedges. Chief executive officer Prem Watsa says Fairfax's Big Short bet a few years back was a mistake. Fairfax has since changed its strategy to what it calls the Big Long, investing in itself. As he started to adopt the new strategy, Mr. Watsa started talking more about Henry Singleton, the legendary CEO of Teledyne who orchestrated the most aggressive and successful buyback strategy in corporate history. Mr. Watsa called him "the Michael Jordan of buybacks," and, now that it was taking a break from buying companies, Fairfax was going to lace up its Air Watsas and spend a decade playing some serious buyback ball. Fairfax maintains that its stock is still a bargain.