Prem Watsa: Value Investing Philosophy and Strategy

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Published on Apr 6, 2017

A interview and Q&A with billionaire value investor and founder of Fairfax Financial Holdings, Prem Watsa. In this interview Prem discusses his value investment approach and strategy. Prem later gives examples of companies he has invested in and why. Finally Prem takes questions from students on value investing and a wide range of topics.

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Video Segments:
0:00 Introduction
0:43 Buying a apple for 5 cents, selling it for 10
2:23 Recognising a professor
4:20 Ben Graham
4:50 How I got my first job
6:35 Investment vs speculation/ Margin of safety
9:02 John Templeton's advice/ Go against consensus
10:40 Examples of Value investing
14:58 New York real estate story
17:15 Chinese real estate
19:34 Only Value investment philosophy
20:26 John Templeton
22:00 What makes a good business
29:21 Chinese Proverb
30:14 Start of Q&A
30:43 What led you to Value investing?
36:53 Value investment strategy in the recession?
49:04 Investment in Torstar?
53:29 How much more difficult is it to pick a value investment compared to 25 years ago?
59:41 What people skills do new security analysts forget?
1:04:29 How to avoid value traps?
1:10:13 How to find value everywhere?
1:15:20 How do you deal with criticism?
1:18:28 How do you determine the intrinsic value of people and how do you compensate them?
1:23:20 What do you do with investments in tough times?
1:25:31 View on trying to regulate financial leverage in banks?
1:29:32 Do you think investors are going to starting putting a value on community investments?
1:32:03 What's the most important thing you have learned in investing and life?

Interview Date: 16th February, 2011
Event: The Ben Graham Center for Value Investing
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