Fairfax cuts equity hedging, sees U.S. rally after Trump win

Fairfax Financial Holdings Ltd , a Canadian firm headed by high-profile investor Prem Watsa, said on Friday it planned to significantly reduce its defensive equity hedges due to Donald Trump winning the U.S. presidential election. Watsa made billions for Fairfax by correctly calling the 2008 financial crisis, but has since been famously bearish on the outlook for global equity markets. Last week, he said Fairfax would maintain defensive equity hedges and deflation protection as it remained conce