“An investment operation is one, which, upon thorough analysis,
promises safety of principal and a satisfactory return. Operations
not meeting these requirements are speculative.” - Benjamin Graham
Monday, September 03, 2007
Fairfax Mentioned in Value Investor Insight
Fairfax Financial has a write-up in the August issue of VII by Whitney Tilson, with a price target of $365 (albeit, using some faulty numbers). Anyways, their thesis repeats what I've been saying here: Large CDS gain potential, and a hidden value in ICICI, combined with an overall very undervalued market price. I'd also add bond gains. Sorry, no direct link, as its subscription only.