The Globe and Mail reports in its Saturday edition that Fairfax Financial Holdings is cautioning investors against social-media scams that falsely claim to feature stock recommendations from chief executive officer Prem Watsa. The Globe's Andrew Willis and Mariya Postelnyak write that Mr. Watsa speaks once a year at Fairfax's annual meeting for a discussion of the company's portfolio. Otherwise, Mr. Watsa, like fellow value investor Warren Buffett, stays conspicuously silent on what he is buying and selling. In the past week, Mr. Watsa has appeared to adopt a new strategy. Sponsored ads for "Wealth Lighthouse" and "Equity Insider Club" featuring Mr. Watsa appeared on Meta's Facebook. The ads, claiming he is a well-known value investor dubbed the "Canadian Buffett," encouraged viewers to join a WhatsApp group for his next "dark horse" stock pick. The advertisements are fraudulent. On Thursday, Fairfax put out a press release to make clear the real Mr. Watsa never touts stock picks on Facebook. Fairfax vice-president John Varnell said: "Prem Watsa does not maintain and has never maintained any on-line social media accounts. Any social media outlet claiming to represent him or to offer advice on his behalf is fraudulent."