Fairfax Financial and the luck of the Irish

Sep 8th, 2008 – Comment

Hello Lou I really like your hits on AM 640 with Oakley in the morning. I would like your opinion on Fairfax Financial. My investment company is in love with Prem (sp?) and my portfolio has been heavily weighted in it. (15-20%) Are you Irish? Your green suspenders makes me think your name might actually […]


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Lou Schizas is an equities analyst, investor, entrepreneur, professor and television and radio personality – and a true believer in the happiness-inspiring powers of capitalism.


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MACD screamed sell in early 2008

MACD screamed sell in early 2008

Hello Lou

I really like your hits on AM 640 with Oakley in the morning.

I would like your opinion on Fairfax Financial. My investment company is in love with Prem (sp?) and my portfolio has been heavily weighted in it. (15-20%)

Are you Irish? Your green suspenders makes me think your name might actually be O’Schizas.

Cheers
Paul

Hi Paul,

Glad you are enjoying the Oakley Show on AM640. One of the best parts of my day is working with John.

I think we are all Irish at the core. I once watched a documentary on the Celts and it seems they had quite an extensive influence across the world including Greece and France where my ancestors come from. Once many years ago, when I was working with my great pal Brad Schewaga we had Irish days at the office where he called me O’Schizas all day. Thanks for helping me reach into the Wayback Machine for a good laugh!

With regards to Fairfax Financial Holdings Ltd., FFH TSX, I hope your advisers got you off the ride before it gave back $100 a share! That’s the problem with being in love sometimes you get into denial and don’t see the signs that good lovin has gone bad!

Prem Watsa is the founder of the company and is considered by some to be the Warren Buffett of Canada. Watsa put FFH on the right side of the financial sector melt down and has profited greatly from that call.

The stock has support in the $225 -$200 range and I think that it will catch a bounce today as the news of the bailout of Fannie Mae and Freddie Mac signal to some that the bottom for the financial sector is in.

When I look at the chart the MACD screamed sell in early 2008 and hasn’t turned yet. The double top in 2008 is a reversal pattern that told us to hit the silk and do the D.B. Cooper with the cash! Remember love stinks!

Happy Capitalism!

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