BNN Blurb WATSA’S STILL GOT IT
Prem Watsa’s investing acumen powered Fairfax Financial in its latest quarter. While profit almost doubled in the company’s core property and casualty insurance and reinsurance operations, it was the US$938-million gain on investments that accounted for the lion’s share of earnings in the fourth quarter. For the year, investing gains surged to US$3.45 billion. We’ll keep an ear on what Watsa tells analysts in a conference call this morning.