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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: M0NEYMADE who wrote (112119)	1/20/2003 1:31:21 PM
From: StocksDATsoar	Read Replies (1) \| Respond to of 150070

Strong rumors in TO say that BB+ loaded the boat on FFH-T under $60.00 unreal this BB+ (REUTERS) Fairfax shares plunge on analysts' research report Fairfax shares plunge on analysts' research report TORONTO, Jan 20 (Reuters) - Shares of Fairfax Financial Holdings Inc. <FFH.TO> fell hard on Monday as investors reacted to a research report that said the company faced a reserve shortfall, a claim strongly denied by Fairfax's chief executive. Shares of Fairfax, a financial services and insurance company, plunged C$18.85, or 19 percent, to C$81.05 on the Toronto Stock Exchange, after falling as far as C$57.00 earlier in the session, well below the 52-week low of C$99.35. Fairfax shares have fallen 32 percent since a research report by Morgan Keegan & Co. said last week the insurer lacked $5 billion in reserves to cover future claims. But in a statement released on Monday, Fairfax said the report lacked the "factual details necessary to produce a reserve calculation." "We are certain that the loss reserve deficiencies suggested by that report are totally wrong and have no validity whatsoever," Prem Watsa, the chairman and chief executive, said in a release. ($1=$1.53 Canadian) ((Reporting by Franco Pingue, editing by Rob Wilson; frank.pingue@reuters.com; Reuters Messaging: frank.pingue.reuters.com@reuters.net; (416) 941-8094)) REUTERS * end of story *