Pray as hard as you can, as though everything depended on God. During his first summer in Canada, Watsa switched to selling Lennox air conditioners. He started to work for an immigrant, Ihor Horich, from Ukraine. Prem Watsa recalls trying to negotiate with his boss for gas money, and how a bigger commission motivated him.
I sold a lot of air conditioners. Prem Watsa exemplified his boss Ihor's blunt style in recounting one of their final conversations. A little more than 10 years after joining Confederation Life, Prem Watsa and a few other entrepreneurs left to found the company that would eventually morph into Fairfax. Updated on Mar 28, , pm. Sign in. Log into your account. Prem Watsa fans also viewed:. James Holder. George Norcross.
Giles Mackay. Jacob Brunsborg. Alex Algard. Philip Day. Gavin Patterson. Peter Ndegwa. Eduardo della Maggiora. Jim Ovia. And in he acquired a big stake in the Bank of Ireland at a knockdown price, which saved the bank from being nationalised. Watsa has built much of his success identifying businesses that are out of favour, but which can be turned around.
But he also has a cautious streak. In his latest letter to investors he said he believes that the odds of "robust growth" in the global economy have "significantly increased", but he would remain wary of risks and intends to keep his "protections in place".
His career is also another reminder that a diversified portfolio is crucial to long-term success. Green finance is set to be the most powerful financial repression tool yet. Emerging markets: the Brics never lived up to their promise — but is now the time to buy? Skip to Content Skip to Footer. Features Home Economy. Prem Watsa: Canada's Warren Buffett. Investments Economy.
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