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Thanks all for the comments. I may be wrong, but I think you will find that if you take those same dates 2009-2020 and plot both FFH and the TSX index on a graph, you will find that Fairfax actually out performed the TSX during that period. So while performance might not have been great, it appears to have at least beat the index - and this doesn't include dividends. Further, there were times during the GFC when stocks were hit hard and yet Fairfax stock price stayed level or increased. Now while that may sound like a detail, it balanced off losers in my personal portfolio during that period and helped me to sleep at night. I have held FFH since 2007 @ about $215 a share and added through time. If I had tried to time the market there is no way I would ever been smart enough to have cherry picked when to jump in and out of FFH. But I am quite happy with my returns on Fairfax and it represents a bit over 50% of my portfolio.

I think you'll do fine if you just trust your own analysis and work through it rigorously. Too many people look to other managers to confirm their own belief...it's dangerous. I learned my lesson 20 years ago trying to follow Seth Klarman into a couple of investments. Their methods probably do not mirror my methods, thus why they probably see the same investment differently. Cheers!

https://www.fitchratings.com/research/insurance/fitch-upgrades-fairfax-ratings-outlook-stable-22-04-2025

I’m glad Fairfax doesn’t do a lot of personal lines..