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RBC sent out their research report on Fairfax last night. It was pretty positive on the company - with earnings estimates increased. Price target was increased by US$40 to US$1,020. But there was one head scratcher for me... they feel Fairfax should be valued at 1 x BV. Really? After what we have seen Fairfax deliver over the past 3 years? And how they are poised moving forward? So late last night I decided to ask RBC (Scott) what he is seeing that I am missing. I'll let you know if/how he responds. ---------- RBC increased price target for Fairfax to US$1,020 (based on 1 x 2024YE book value). They forecast EPS of $151 in 2023 (up from $135), $140 in 2024 (up from $130) and $150 for 2025 (new).

You guys are seriously bitching that market is not recognizing Fairfax after a 100% run up in an year? Have patience! Give the market some time. It needs 3 dots (3 years earnings data) to then put a line to extrapolate to infinity. Then we might get BV multiple that makes us blush! In the meantime enjoy! (I am sure you guys are smiling ear to ear looking at the share price ) Vinod