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Written by Amy Legate-Wolfe at The Motley Fool Canada
If you’re looking for a Canadian stock that’s been quietly crushing the market, Fairfax Financial (TSX:FFH) deserves your attention. Over the past year, shares are up more than 50%, massively outpacing the TSX and most insurers in North America. And now, after a monster second quarter, investors are wondering if this might just be the smartest investment on the TSX right now.
Fairfax reported a whopping $1.44 billion in net income in the second quarter alone. That’s a jump of over 57% from the same quarter last year, driven by strong underwriting, booming investment returns, and consistent premium growth. Earnings per diluted share came in at $61.61, with book value per share rising 10.8% year to date, even after accounting for its sizeable $15 dividend paid earlier this year,…
