Morningstar - Fairfax Financial Holdings Limited (FFH) Fairfax is No Mini-Berkshire, but Could Be Attractive for Investors Worried About Deflation

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Morningstar

Brett Horn

EUR 147.86 For Business Accounts Only

Fairfax is No Mini-Berkshire, but Could Be Attractive for Investors Worried About Deflation

While its primary business is insurance, Fairfax is in some ways more of an investment fund. Chairman and CEO Prem Watsa has a history of bold investment bets and is more than willing to be unorthodox when it comes to portfolio construction. We're somewhat skeptical of this approach, and we do not believe Fairfax has a moat. Further, the shares currently look overvalued relative to our CAD 592 fair value estimate.
Fairfax is often included in discussions about "Mini-Berkshires" or companies that...

22/08/2016 12 EN

Underlying

Fairfax Financial Holdings Limited

Fairfax Financial Holdings is a financial services holding company. Through its subsidiaries, Co. is engaged in property and casualty insurance and reinsurance and investment management. Co.'s insurance and reinsurance companies operate on a decentralized basis, with autonomous management teams applying a focused underwriting strategy to their markets. Co.'s investments are centrally managed for all the Co.'s group of companies by Hamblin Watsa Investment Counsel Ltd. Co. operates four main operating segments: Insurance, Reinsurance, Reinsurance and Insurance - Other, and Runoff.

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CA3039011026 Toronto Stock Exchange Canada

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Brett Horn

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Fairfax is No Mini-Berkshire, but Could Be Attractive for Investors Worried About Deflation

Result of Voting for Directors at Annual Shareholders’ Meeting

Fairfax Announces Hybrid Annual Shareholders’ Meeting Details

Fairfax Completes US$1 Billion Senior Notes Offering

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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