Fairfax shares slide as bond losses overshadow strong underwriting in Q1

Fairfax posted net losses on investments of $385.9 million, against gains of $1.06 billion a year earlier, including $363.9 million of mark-to-market bond losses tied to higher rates. « We expect our investments to perform well over the long term, but our net gains will fluctuate from quarter to quarter, » chairman and chief executive Prem Watsa said.