Prem Watsa was born in 1950 in Hyderabad, India and is the founder, chairman, and chief executive of Fairfax Financial Holdings, based in Toronto, Ontario. He has been called the "Canadian Warren Buffett" by some during successful periods of investing in the past. He is a Chartered Financial Analyst, a graduate of the Indian Institute of Technology with a degree in Chemical Engineering and a holder of an MBA from the Richard Ivey School of Business of the University of Western Ontario.
Prem Watsa is renowned for his long track record of outstanding returns using Buffett-style value investing through his worldwide insurance and reinsurance company, Toronto-based Fairfax Financial Holdings. His five-year cumulative is 176.4%, compared to 12.2% for the S&P 500
Here is the letter:
Letter to Shareholders From Annual Report 2011 FINAL_v001_j939zn