Ryan Vanzo: Fairfax Financial
My top stock for 2021 is
Fairfax Financial (TSX:FFH). The upcoming 12 months could turn volatile, and this stock is a great place to ride out the storm.
Founded by Prem Watsa considered by many to be the Warren Buffett of Canada Fairfax stock has a proven record of growth, even during turbulent markets. In 2008 and 2009, when global markets were plunging, shares actually
grew in value.
The current bull run has left a lot of value stocks behind, Fairfax included. Shares now trade at a huge discount to their historical average, prompting Watsa to commence a major buyback program. Cheap shares and proven resilience make this an attractive stock for 2021.
Third Avenue Management Eyes Brookfield Asset (BAM) to Perform Positively
Third Avenue Management, a disciplined, value-oriented asset manager and investment fund, published its third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 10.94% was recorded by the fund for the 3rd Quarter of 2020, ahead of its FTSE EPRA NAREIT Developed benchmark that returned 10.32%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Third Avenue Management in their Q3 2020 Investor Letter said that they were able to distinguish a value in Brookfield Asset Management Inc. (NYSE: BAM) and initiated a position in the company. Brookfield Asset Management Inc. is an alternative asset management company that currently has a $58.8 billion market cap. For the past 3 months, BAM delivered a 14.82% return and settled at $38.74 per share at the closing of January 15th.
GrafTech Announces Secondary Offering of Common Stock by Existing Stockholder
GrafTech Announces Secondary Offering of Common Stock by Existing Stockholder GrafTech International Ltd. (NYSE: EAF) (GrafTech or the Company) today announced that an affiliate of Brookfield Asset Management Inc. and Brookfield Business Partners LP, members of the Brookfield consortium that has a majority ownership interest in GrafTech, intends, subject to market conditions, to offer 20,000,000 shares of GrafTech common stock in an underwritten secondary offering. The selling stockholder will receive all of the net proceeds from the offering. GrafTech is not offering any shares of common stock in the offering. Morgan Stanley & Co. LLC is acting as the sole underwriter for the offering.
GrafTech Shares Drop 10% as Brookfield Affiliate Plans Offering morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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Last year Brookfield Asset Management Inc and the Canada Pension Plan Investment Board (CPPIB) were said to be mulling a bid for the fibre unit of Brazilian telecom firm Oi SA. Now press reports suggest that one of these two – the CPPIB – is going ahead.