Prem Watsa Ignores Wilbur Ross, Remains Long Bank of Ireland

What happens when one of your respected friends goes against your investment advice?  If you are Fairfax Financial (TSE:FFH) (OTCMKTS:FRFHF) Chief Executive Prem Watsa, you stick to your guns. Watsa and Ross purchased together On Monday Watsa’s investment buddy, Wilbur Ross, announced he was selling his exposure to the Bank of Ireland (ADR) (NYSE:IRE).  Watsa, which holds 5.8 percent of the stock, is the banks second largest shareholder.  Watsa and Ross purchased the bank together in 2011. The Bank of Ireland (ADR) (NYSE:IRE), which is not the government’s central bank, is the oldest continuous operating bank in Ireland (excluding the four…