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Great Fairfax article?


Guest Dazel
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That was the point I was trying to get across when I pointed out the estimated earnings per share that I came across. Not that the numbers were relevant but that there is all sorts of headlines when some companies beat the estimates they put out by a few cents.

 

Dan

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http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN3029761220091030

* Says no sign of hardening insurance market

 

* Says priority is to keep financial position strong

 

* Acquisitions, buybacks, dividend hike all options (In U.S. dollars unless noted)

 

TORONTO, Oct 29 (Reuters) - Fairfax Financial Holdings Ltd (FFH.TO) said on Friday the insurance market remains soft and that the company continues to put a priority on maintaining a strong financial position rather than on expending capital.

 

Fairfax, which deals in property and casualty insurance and reinsurance, said it would consider all options when it comes time to deploy capital -- including share buybacks, a dividend increase or acquisitions -- but for now it is guarding its financial position.

 

 

Has anyone seen anything on results anywhere? Sad for the rest of the world who do not know the

story.

 

Dazel

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There's this brief article on Globeinvestor - mentioned Prem's CC comments and quoted a few things from yesterday's press release.

 

http://gold.globeinvestor.com/servlet/ArticleNews/story/GI/20091030/escenic_1345263/stocks/news/&back_url=yes

 

It's a subscription site so not sure whether you'll be able to open. Check the globe and mail to see whether you can find the same article - but nothing that we don't know already.

 

Apparently, on the CC, Prem said that future acquisitions will be limited to "very strong companies." Guess they have learned an important lesson. I can't help but feel that they would have taken over ING Canada if they (FFH) were in their current strong postion last year when ING went on the block. That would have been a great buy at a good price when the C$ was lower.

 

Did anyone catch the CC? Anything interesting?

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