A Value Investors Mecca Should Extend To Toronto And Prem Watsa

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A Value Investors Mecca Should Extend  To Toronto And Prem Watsa
By Nick (Charlie Munger) [<a href="http://creativecommons.org/licenses/by/2.0">CC BY 2.0</a>], <a href="https://commons.wikimedia.org/wiki/File%3ACharlie_Munger.jpg">via Wikimedia Commons</a>

Great article in the AFR that suggests Omaha is not the only place that value investors are heading to for great ideas. It seems Denver and Toronto are becoming equally important destinations, as are the annual meetings of Markel Corporation and Fairfax Financial, as investors prepare for life after Buffett and Munger.

Toronto in time may become the next Omaha. For years, Prem Watsa, the chairman of Canadian insurance group Fairfax Financial, has been heralded as that nation’s version of Warren Buffett.

Here’s an excerpt from that article:

ADW Capital’s 2020 letter: Long CDON, the future Amazon of the Nordics

Investing Greenhaven Road CapitalADW Capital Partners was up 119.2% for 2020, compared to a 13.77% gain for the S&P 500, an 11.17% increase for the Russell 2000, and an 8.62% return for the Russell 2000 Value Index. The fund reports an annualized return of 24.63% since its inception in 2005. Q4 2020 hedge fund letters, conferences and more Read More


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Denver and Toronto are becoming equally important destinations, as are the annual meetings of Markel Corporation and Fairfax Financial, as this dedicated group prepares for life after Buffett and Munger.

Toronto in time may become the next Omaha. For years, Prem Watsa, the chairman of Canadian insurance group Fairfax Financial, has been heralded as that nation's version of Warren Buffett. If Buffet and Munger are the eternal optimists, Watsa is steadfast in his bleakness. He famously made inspired and lucrative "big short" derivative bets against US housing in 2008 that netted the company billions.

Some investors are losing patience, but Watsa isn't budging. He used a parable about the "stupidest boy in the world" to explain to shareholders why he is sticking to his bearish bets.

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You can read the full article here.

This article was originally posted by Johnny Hopkins at The Acquirer's Multiple.

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