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  "documentTitle": "Fairfax Financial Holdings Ltd. (FFH)",
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  "authorName": "Carson C. Block",
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      "text": "We argue that Fairfax has used equity transactions with OMERS and CPPIB to obtain off-balance sheet debt.",
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      "text": "3. We note that Fairfax's percentage of ownership in EXCO has increased... 4. Since 2017, disclose each issuance of shares to a non-controlling interest... 5. What was the rationale for paying a significant premium for Gulf Insurance in Q4 2023?",
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      "text": "It seems to us that Warren Buffett would have walked away from this transaction, as he is legendary both for patience and buying at a significant discount to intrinsic value.",
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      "text": "5 “Fairfax Financial Holdings Ltd.: The GE of Canada”, Pg. 22 (https://d.muddywatersresearch.com/content/uploads/2024/02/Fairfax-Financial_FFH_MW_20240208.pdf).",
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