Fairfax Financial Holdings Ltd. reported third-quarter profits plummeted more than 96 per cent as it faced losses on its equity hedges. The Toronto-based financial services company said net earnings fell to $34.6 million, or 90 cents per share, versus $973.9 million, or $46.73 per share, a year earlier. The insurance and investment giant says the decline was mostly from a lack of net investment gains in the period from hedging, as well as lower interest and dividend income.
