““Due to a favorable political & social conditions, India's economy will grow over the next 10 years, specifically measured through growth of Fairfax India (FIH.U), an investment holding company. The company's closing price on May 5, 02015 was USD$ 11.50. I predict Fairfax India will earn, on average, an annual compound rate of return of at least 15% (including capital gains and dividends) over the next 10 years (May 6, 2015 to May 5, 2025)."”

1. The political environment is good for India. In May 2014, India’s political climate changed dramatically for the better with the election of Prime Minister Narendra Modi with a resounding majority. I think Mr. Modi can transform India, particularly if he gets re-elected for two more terms, as I think he will. He has an excellent track record, is incorruptible and is business friendly. I expect Mr. Modi to be the Lee Kuan Yew of India! 2. Fairfax has a great track record investing in India, I am very excited about the long term prospects for Fairfax India under the current management team.