Fairfax Financial Holdings Ltd Shs Subord.Vtg

FFH: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 4,534.00	Cqxzv	Rhgtrgcb

Fairfax Takes a Loss in Second-Quarter 2022 Due to Investment Hits

Brett Horn

Jul 29, 2022

While Fairfax, like its peers, is benefiting from a harder pricing market on the underwriting side, its relatively unique investment positioning was a major negative, and investment losses led to a loss of $881 million for the quarter. Adjusted for dividends, book value per share is down 5% since year-end. We will maintain our CAD 636 per share fair value estimate and no-moat rating for the firm.

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