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.