If there’s one thing Prem Watsa teaches year after year, it’s that investing is a long game—and sometimes, it’s a tough one too. In 2016, Fairfax posted a $512 million loss, but Watsa didn’t flinch. “This was the fourth loss we reported in 31 years,” he wrote. “Since we began … Read More
Prem Watsa: Top 5 Positions Make Up 66.81% of His Portfolio (Analysis)
Prem Watsa’s top 5 positions make up 66.81% of his current portfolio, indicating a moderately concentrated approach. His largest holding, Orla Mining Ltd (ORLA), accounts for 19.97%. Below is a detailed look at each of the top 5 positions, including shares held, value, portfolio weight, and commentary. Orla Mining Ltd … Read More
How Prem Watsa Built Fairfax While Missing FAANG
Prem Watsa’s 2019 shareholder letter isn’t just a business update—it’s a clear example of long-term investing and disciplined growth in action. Fairfax earned a record $2 billion, with book value up 14.8%, and yet Watsa remains humble and focused: “We are working on it!” he writes, referring to the still-recovering … Read More
Lessons from a Painful Investment — Prem Watsa’s BlackBerry Blunder
In his 2023 Shareholder Letter, Prem Watsa, often called the “Warren Buffett of the North,” issued a rare and candid mea culpa that offers a sobering lesson in humility, risk, and the unpredictability of technology investing. Watsa laid bare his investment in BlackBerry, a bet that spanned over a decade … Read More
Prem Watsa: Knowing When To Shift from Defense to Offense
I often reflect on my past investment predictions and decisions—what went right, what went wrong, and what I can learn going forward. As I looked back, I was reading the Fairfax Financial 2017 Letter, which included an observation Prem Watsa made in 2011: “The major risks for the economy would … Read More
Prem Watsa – More Information, Same Human Nature
In the world of investing, information is everywhere. We have real-time stock quotes, earnings reports, and economic forecasts at our fingertips. Yet, as Prem Watsa pointed out in his 2011 talk at Ivey Business School’s Value Investing Classes, “lots more information right doesn’t mean a thing because human nature hasn’t … Read More
Prem Watsa on Market Cycles: Why Growth Stocks Won’t Dominate Forever
In a world where momentum and technology stocks have dominated the markets for the past decade, the principles of value investing have often been overshadowed. However, as Prem Watsa, the renowned investor and CEO of Fairfax Financial, pointed out in a 2019 interview with the P/V Podcast, history suggests that … Read More
Prem Watsa – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Prem Watsa: Lean Years in Investing: A Reality for Even the Best
In his 2000 Fairfax Financial Shareholder Letter, Prem Watsa discusses Fairfax’s underperformance, noting that for the first time in two consecutive years, the company did not achieve a return on equity above 20%, earning only 4.1% in 2000. The company’s low stock price attracted “deep value” investors as it appeared … Read More
Prem Watsa: Caveat Emptor: The Risks of Long-Term Investment Optimism
In his 2015 Annual Letter, Prem Watsa criticizes the belief that common shares are always great long-term investments, noting historical downturns like the 1929 Dow Jones crash and the Nikkei’s stagnation since 1989. He highlights the potential for significant market risks and emphasizes cautious investment strategies. Watsa cites Ben Graham’s … Read More
Prem Watsa: How To Achieve 20%+ Returns
In his 1987 Shareholder Letter, Prem Watsa discusses how short-term market fluctuations are driven by emotions and don’t reflect underlying business fundamentals. They advise investors to focus on company fundamentals and not be swayed by market swings. Here’s an excerpt from the letter: We have been asked many times as … Read More
Prem Watsa: Navigating Investment Pitfalls: Insights on Regrets and Success
In this interview with Bloomberg, Prem Watsa admits to making numerous mistakes during his investing career. He acknowledges John Templeton’s point that even the best investors only get two out of three right. He finds this acceptable, emphasizing the need to learn from mistakes and understanding the inherent ambiguity of … Read More
Prem Watsa – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Prem Watsa: Caveat Emptor! Human Nature Has Not Changed At All Over All These Years
Earlier this year in his 2022 Annual Report, Prem Watsa warns investors to be careful (caveat emptor), and to remember that human nature has not changed at all over all these years. Here’s an excerpt from the report: I have mentioned to you that the renaissance of value investing may … Read More
Prem Watsa: The Best Investment Strategy Is Always The Same
During his recent interview at the Delphi Economic Forum, Prem Watsa outlined his best investment strategy. Here’s an excerpt from the interview: Watsa: So the best investment strategy is always the same Stelios. You have to go with good people like Fokionas, or like Alex, and people who have got a long … Read More
Prem Watsa – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Prem Watsa: Value Oriented Stocks Coming To The Fore
During his latest Q4 2022 Earnings Call, Prem Watsa explained why value oriented stocks are coming to the fore. Here’s an excerpt from the call (H/T Seeking Alpha): Watsa: As I’ve said previously many times, long-term value investing has gone through a very difficult time for about a decade now. … Read More
Prem Watsa – Top 10 Holdings – Latest 13F
One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More
Prem Watsa: Why We Invest In Founder-Led Companies
In his latest Q4 2021 Earnings Call, Prem Watsa explains his preference for investing in founder-led companies. Here’s an excerpt from the call: Prem Watsa No. No. The — good question. No. The investment philosophy is the same. What we are trying to buy is good companies with great management … Read More
Prem Watsa: How To Find Companies That Can Survive For 100 Years
In his latest 2021 Annual Shareholder Letter, Prem Watsa discussed his latest outstanding results and how to find companies that can survive for 100 years. Here’s an excerpt from the letter: We had the best year in our history in 2021 as the world began to return to normalcy. We … Read More
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