Muddy Waters has alleged that Fairfax was “The GE of Canada” and not the Berkshire Hathaway that it was touted to be in a report on 8 february that sent Fairfax’s shares tumbling 12% . Its shares had pared half the losses in early trading in Toronto on 12 February. Muddy Waters reference to GE has to do with the company settling $200 million in penalties from US stock market regulator in 2020 for alleged accounting violations.