A Mini Berkshire Hathaway? This Insurer Comes Close. -- Barrons.com

Dow Jones

2025/12/29

By Andrew Bary

This article is an excerpt from "Amazon and 9 More Stocks to Buy for 2026," published on Dec. 12, 2025. To see the full list, click here.

Fairfax Financial may be the closest thing to a mini Berkshire Hathaway -- and it may be a better bet at this point.

The Toronto-based property and casualty insurer has strong insurance operations, an excellent investment record, and phenomenal long-term performance under founder and chairman Prem Watsa, 75. The company targets 15% annual growth in book value, against what's probably high-single-digit growth at Berkshire. It has a market value of about $40 billion, against Berkshire's $1.1 trillion, which makes it easier to grow.

"This is like investing in Berkshire in 1993," says investor Charlie Frischer.

Its current price/book ratio of 1.5 is in line with Berkshire's, but Frischer says the true figure for Fairfax is closer to a cheaper 1.25 times because some investments are carried below market value. It has an excellent portfolio of Indian investments such as a controlling stake in the Bangalore airport.

Fairfax even partners with a Berkshire alumnus, David Sokol, who was once viewed as a successor to Warren Buffett. Sokol runs a containership business in which Fairfax owns a 43% stake. The stock trades mainly in Canada, and has thinly traded U.S. shares now around $1,750.

Write to Andrew Bary at andrew.bary@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 29, 2025 02:00 ET (07:00 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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This Insurer Comes Close. -- Barrons.com","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Andrew Bary \n</p>\n<p>\n  This article is an excerpt from \"<a href=\"https://laohu8.com/S/AMZN\">Amazon</a> and 9 More Stocks to Buy for 2026,\" published on Dec. 12, 2025. To see the full list, click here. \n</p>\n<p>\n  Fairfax Financial may be the closest thing to a mini Berkshire Hathaway -- and it may be a better bet at this point. \n</p>\n<p>\n  The Toronto-based property and casualty insurer has strong insurance operations, an excellent investment record, and phenomenal long-term performance under founder and chairman Prem Watsa, 75. The company targets 15% annual growth in book value, against what's probably high-single-digit growth at Berkshire. 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Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 29, 2025 02:00 ET (07:00 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Mini Berkshire Hathaway? 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This Insurer Comes Close. -- Barrons.com\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-12-29 15:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Andrew Bary \n</p>\n<p>\n  This article is an excerpt from \"<a href=\"https://laohu8.com/S/AMZN\">Amazon</a> and 9 More Stocks to Buy for 2026,\" published on Dec. 12, 2025. To see the full list, click here. \n</p>\n<p>\n  Fairfax Financial may be the closest thing to a mini Berkshire Hathaway -- and it may be a better bet at this point. \n</p>\n<p>\n  The Toronto-based property and casualty insurer has strong insurance operations, an excellent investment record, and phenomenal long-term performance under founder and chairman Prem Watsa, 75. The company targets 15% annual growth in book value, against what's probably high-single-digit growth at Berkshire. It has a market value of about $40 billion, against Berkshire's $1.1 trillion, which makes it easier to grow. \n</p>\n<p>\n  \"This is like investing in Berkshire in 1993,\" says investor Charlie Frischer. \n</p>\n<p>\n  Its current price/book ratio of 1.5 is in line with Berkshire's, but Frischer says the true figure for Fairfax is closer to a cheaper 1.25 times because some investments are carried below market value. It has an excellent portfolio of Indian investments such as a controlling stake in the Bangalore airport. \n</p>\n<p>\n  Fairfax even partners with a Berkshire alumnus, David Sokol, who was once viewed as a successor to Warren Buffett. Sokol runs a containership business in which Fairfax owns a 43% stake. The stock trades mainly in Canada, and has thinly traded U.S. shares now around $1,750. \n</p>\n<p>\n  Write to Andrew Bary at andrew.bary@barrons.com \n</p>\n<p>\n   This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 29, 2025 02:00 ET (07:00 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1280957306.USD","symbol_name":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2595021512","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2595021512","pubTimestamp":1766991600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"This article is an excerpt from \"Amazon and 9 More Stocks to Buy for 2026,\" published on Dec. 12, 2025. To see the full list, click here.Fairfax Financial may be the closest thing to a mini Berkshire Hathaway -- and it may be a better bet at this point.The Toronto-based property and casualty insurer has strong insurance operations, an excellent investment record, and phenomenal long-term performance under founder and chairman Prem Watsa, 75. The company targets 15% annual growth in book value, against what's probably high-single-digit growth at Berkshire. It has a market value of about $40 billion, against Berkshire's $1.1 trillion, which makes it easier to grow.\"This is like investing in Berkshire in 1993,\" says investor Charlie Frischer.Its current price/book ratio of 1.5 is in line with Berkshire's, but Frischer says the true figure for Fairfax is closer to a cheaper 1.25 times because some investments are carried below market value. It has an excellent portfolio of Indian investmen","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0048573561.USD":"FIDELITY AMERICA \"A\" (USD) INC","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","LU0251131958.USD":"FIDELITY AMERICA \"A\" (USD) ACC","LU0251142724.SGD":"Fidelity America A-SGD","FFHPF":"Fairfax Financial Holdings Ltd.","BK4581":"高盛持仓","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","BK4550":"红杉资本持仓","LU0971096721.USD":"富达环球金融服务 A","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","BK4176":"多领域控股","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","LU0149725797.USD":"汇丰美国股市经济规模基金","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4588":"碎股","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC"},"translate_title":"迷你伯克希尔哈撒韦公司？这家保险公司很接近。——Barrons.com","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FFHPF":1.93},"content_text":"By Andrew Bary \n\n\n  This article is an excerpt from \"Amazon and 9 More Stocks to Buy for 2026,\" published on Dec. 12, 2025. To see the full list, click here. \n\n\n  Fairfax Financial may be the closest thing to a mini Berkshire Hathaway -- and it may be a better bet at this point. \n\n\n  The Toronto-based property and casualty insurer has strong insurance operations, an excellent investment record, and phenomenal long-term performance under founder and chairman Prem Watsa, 75. The company targets 15% annual growth in book value, against what's probably high-single-digit growth at Berkshire. It has a market value of about $40 billion, against Berkshire's $1.1 trillion, which makes it easier to grow. \n\n\n  \"This is like investing in Berkshire in 1993,\" says investor Charlie Frischer. \n\n\n  Its current price/book ratio of 1.5 is in line with Berkshire's, but Frischer says the true figure for Fairfax is closer to a cheaper 1.25 times because some investments are carried below market value. It has an excellent portfolio of Indian investments such as a controlling stake in the Bangalore airport. \n\n\n  Fairfax even partners with a Berkshire alumnus, David Sokol, who was once viewed as a successor to Warren Buffett. Sokol runs a containership business in which Fairfax owns a 43% stake. The stock trades mainly in Canada, and has thinly traded U.S. shares now around $1,750. \n\n\n  Write to Andrew Bary at andrew.bary@barrons.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 29, 2025 02:00 ET (07:00 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}