2025 · Documented public record
Deccan Chronicle
Decision — Named Ben Watsa successor chairman. Context: Two-stage: Fairfax India chairmanship Jul 2024; Fairfax transition announced Nov 13, 2025. Outcome (partial): In progress — gradual handover.
V. Prem Watsa
19 SOURCES7 INDEXED REFERENCES1988–2025
A 40-year, free, complete CEO-letter run — the single best compounding narrative in the cohort: Nikkei puts (1988–90), the $18B-notional CDS crisis program (2003–09), the India build-out (BIAL 74%, Go Digit IPO), and the
THE RECORD
A 40-year, free, complete CEO-letter run — the single best compounding narrative in the cohort: Nikkei puts (1988–90), the $18B-notional CDS crisis program (2003–09), the India build-out (BIAL 74%, Go Digit IPO), and the BlackBerry arc (failed take-private → debentures → full exit Aug 2026). The Fairfax Way (Nov 2025) is the authorized biography spine.
SELECTED PUBLIC REFERENCES
2024 · Documented public record
ET BFSI listing coverage
Decision — Took Go Digit public (NSE/BSE IPO). Context: Fairfax-backed insurtech; SEBI RHP on record. Outcome (known): Listed at ₹286 vs ₹272 issue (+5.15%).
2015 · Documented public record
Fairfax India press release
Decision — Built Fairfax India platform incl. Bengaluru airport control. Context: Additional-10% acquisition Feb 20, 2025 completed the build to control. Outcome (known): BIAL ownership 74.0%.
2013 · Documented public record
Globe and Mail exit coverage
Decision — BlackBerry: $4.7B LOI (failed) → $500M debentures → full exit. Context: Consortium LOI Sep 2013; debenture/preferred purchases; take-private never completed. Outcome (known): ~US$200M debenture interest income; full exit Aug 2026 (Globe & Mail).
2013 · Documented public record
Fairfax annual reports + FP
Decision — Led Eurobank/Greek bank rescue through recapitalization. Context: Largest-shareholder saga documented in ARs and FP coverage. Outcome (known): Recapitalization completed; Fairfax remains anchor shareholder.
2003 · Documented public record
Fairfax AR2008 (SEC-filed letter)
Decision — Ran the crisis hedging program (>80% equity hedges, T-bills, ~$18B CDS). Context: 2007–2009 letters/ARs; “1-in-50-year storm” deployment framing. Outcome (known): 2008 CDS windfall (US$2.1B+ realized/unrealized); 2009 deployment.
1988 · Documented public record
Fairfax 1988/1990 letters
Decision — Bought Nikkei puts (“Count me among the skeptics”). Context: 1988 letter carries the verbatim line; 1990 letter reports results. Outcome (known): $2.4M realized gains in 1990 as Japan fell 38.7% — the first famous crisis trade.
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