A win-win situation for FBD and Watsa
The Canadian investor Prem Watsa has scooped €100 million from his FBD rescue package punt, and shareholders are profiting from the insurance company’s rebound as he walks away without exercising a share option
Every successful investor who makes a half-decent return gets compared to Warren Buffett, the legendary American stock-picking genius. Few have his track record, which has been honed over decades, and few deserve to be mentioned in the same sentence. Prem Watsa is often called Canada’s Warren Buffett. He’s rapidly catching up on Buffett, thanks in part to his bets on distressed Irish financial institutions.
Last week, Watsa was able to bank €86 million ...
