Prem Watsa, Chairman and CEO of Fairfax Financial, has made a bold bet on falling prices over the next decade according to an article in The Wall Street Journal. Fairfax Financial is an insurance company based in Canada which many have compared to Warren Buffett’s Berkshire Hathaway due to Mr. Watsa’s impressive long term track record. Fairfax posted very strong results in 2007 and 2008 due to large gains in equity hedges and credit default swaps that were taken based on Mr. Watsa’s correct reading of the economy ahead of the Great Recession. Read this article for more details.