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Grass Hopper
Grass Hopper
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Prem Watsa on Commodity Prices

March 09, 2014 | About:

Here’s an update on the commodity price tables I have shared with you before:

While commodity prices have come down, they have yet to collapse. Of course, a collapse would have a very significant impact on the mining industry. World iron ore capacity has increased by more than 100% in the last ten years, mainly because Chinese demand has nearly quadrupled! Of course, any decline in commodity prices will impact Canada, as I mentioned in last year’s Annual Report. Unlike the U.S., Canada has not had a decline in house prices, and as I said last year, we are watching from the sidelines. Caveat emptor, as they say!

From Fairfax Financial 2013 Chairman’s Letters to Shareholders

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