Short seller Muddy Waters’ ‘drive by shooting’ slammed by some (but not all) analysts
Fairfax Financial Holdings (Fairfax) will be gearing up for a fight back on Friday, following a shock report from activist short seller Muddy Waters that spooked investors and sent the group’s share price plummeting.
Analysts and market watchers appeared split on the allegations, with some rushing to Fairfax’s defense.
Fairfax is the “GE [General Electric] of Canada”, Muddy Waters set out in the highly critical Thursday report in which it argued that the company’s book value has been inflated by as much as 18%. Fairfax has slammed allegations as “false and misleading”.
“We are neither Berkshire Hathaway, nor GE, as Muddy Waters suggests,” Prem Wat