Post by
retiredcf on Feb 16, 2024 10:21am
BNN Note
Come on in, the water’s fine: Fairfax Financial had the most profitable year ever in its history. Earnings at Fairfax Financial for the fourth quarter also came in significantly higher driven by gains in its investment portfolio. This comes just a week after short-seller Muddy Waters said Fairfax is overstating the value of some of its assets, which Fairfax pushed back on, calling the allegations “false and misleading.” The conference call is underway right now and I am listening for questions. Muddy Waters posted on X yesterday saying they are still short the stock and they have questions for the management today. Most of them are around clearer disclosure about investments and loans made to Fairfax portfolio companies. Haven’t got to the Q&A portion of the call as I write this, but tune in to BNN Bloomberg for all the insight and analysis. National Bank’s Jaeme Gloyn, who is the most bullish analyst on the street with a $2,000/share price target, is taking comfort in the results saying the results “will support upside in the shares near term.”