Two items of note regarding portfolio holding Fairfax Financial (FFH) today.
First is news that the SEC has completed its investigation, with no action being taken:
Fairfax was subpoenaed in 2005 and 2006 by the SEC regarding its
non-traditional insurance or reinsurance transactions and comments
Watsa made in response to a question during an investor conference call.
Second is this Globe and Mail blog piece including Fairfax in its list of stocks on the Toronto Stock Exchange with "wads of cash in their back pockets." This was actually posted last night, but what the heck, I saw it today:
The “net cash per share” screen is just one tool used by value
investors looking for investment opportunities in companies whose
shares have sometimes been under sustained selling pressure.
The formula for net cash per share is the total value of all cash and equivalents less the total of the short- and long-term liabilities divided by the shares outstanding. The net cash per share is then expressed as a percentage of the current price.
Interesting article -- interesting list of companies.
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