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Fairfax Financial Holdings posts 3Q profit


zippy1

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http://finance.yahoo.com/news/fairfax-financial-holdings-posts-3q-090344501.html

TORONTO (AP) _ Fairfax Financial Holdings Ltd. (FRFHF) on Thursday reported third-quarter net income of $1.3 million.

The Toronto-based company said it had profit of 42 cents per share. Earnings, adjusted for non-recurring costs, came to $5.17 per share.

The financial services holding company posted revenue of $2.43 billion in the period.

Fairfax Financial Holdings shares have climbed 9 percent since the beginning of the year. The stock has risen 4 percent in the last 12 months.

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More likely getting they are getting grouped in with the rest of the insurance industry who are getting killed on their long bonds.

 

Insurance stocks up much > market in last few days... I don't think what you said is a thing. KIE as a proxy is up 5+%

 

No insight on why Fairfax is down other than the obvious that it trades at a premium valuation to book, and is perceived as a deflation and market hedge... neither of which is valuable (opposite actually) in the last few days.

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More likely getting they are getting grouped in with the rest of the insurance industry who are getting killed on their long bonds.

 

Insurance stocks up much > market in last few days... I don't think what you said is a thing. KIE as a proxy is up 5+%

 

No insight on why Fairfax is down other than the obvious that it trades at a premium valuation to book, and is perceived as a deflation and market hedge... neither of which is valuable (opposite actually) in the last few days.

 

Agreed. Rather misses the point that inflation is a much better environment for the insurance business than deflation, and FFH is sitting on nearly it's entire market cap in cash in a volatile market - talk about an elephant gun.

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