Fairfax loss reflects Watsa investment strategy pivot

Fairfax Financial's fourth quarter loss could hardly have
come at a worse time for the Toronto-based firm, whose leader, CEO
Prem Watsa, is often referred to as the Warren Buffett of
Canada.
The insurance holding company, which ran up investment losses of
$1.07bn in the fourth quarter of 2016, is currently trying to put
together financing for its proposed acquisition of Allied World -
the biggest deal in the firm's history.
"It was a painful quarter and year for Fairfax,&...