Prem Watsa Ignores Wilbur Ross, Remains Long Bank of Ireland

Mark Melin

Published onJune 11, 2014

Updated on May 13, 2021

What happens when one of your respected friends goes against your investment advice? If you are Fairfax Financial (TSE:FFH) (OTCMKTS:FRFHF) Chief Executive Prem Watsa, you stick to your guns.

Watsa and Ross purchased together

On Monday Watsa’s investment buddy, Wilbur Ross, announced he was selling his exposure to the Bank of Ireland (ADR) (NYSE:IRE). Watsa, which holds 5.8 percent of the stock, is the banks second largest shareholder. Watsa and Ross purchased the bank together in 2011.

The Bank of Ireland (ADR)...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

Prem Watsa Ignores Wilbur Ross, Remains Long Bank of Ireland

Watsa and Ross purchased together

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