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Re: Alex, the bottom line. (534 Views)
Posted by: (IP Logged)
Date: June 16, 2005 11:04AM
HP,
I understand that owners are willing to lose money and have said so. It's a matter of degree. An owner might be willing to lose "x" to have the enjoyment of ownership, but when his losses start exceeding "Y" some will reconsider. I'd be willing to guess we may be at "Z" these days.
I would only be interested in companies that are writing insurance in lines of business where losses have been high and capital is leaving.
When you say insurance IPOs, I don't know if you are referring to those in the line of insurance we are discussing or in general. However, if there have been a lot of IPOs in a particular line, I wouldn't want to get involved because almost by definition that means new capital is heading in that direction and will thus depress insurance prices and business returns in the near future. Also, typcially IPOs occur when the prices for the securities within the industry are high.
I am a value guy. I like to buy companies at cyclically depressed bottoms when others are leaving and new players aren't entering. THat's the way Warren enters and exits insurance and his theory has served me well also.
Alex, the bottom line. (1088 Views)
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Mall |
06/14/2005 09:30AM |
Re: Alex, the bottom line. (691 Views)
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HP |
06/14/2005 10:21AM |
Re: Alex, the bottom line. (651 Views)
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Silver Charm |
06/14/2005 11:59AM |
Re: Alex, the bottom line. (4205 Views)
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06/14/2005 03:09PM |
Re: Alex, the bottom line. (565 Views)
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HP |
06/14/2005 04:53PM |
Re: Alex, the bottom line. (495 Views)
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06/15/2005 05:41PM |
Re: Alex, the bottom line. (595 Views)
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Mall |
06/14/2005 05:46PM |
Re: Alex, the bottom line. (494 Views)
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06/15/2005 05:54PM |
Re: Alex, the bottom line. (491 Views)
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magicnight |
06/15/2005 06:46PM |
Re: Alex, the bottom line. (515 Views)
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06/15/2005 07:23PM |
Re: Alex, the bottom line. (454 Views)
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bdhsheets |
06/16/2005 01:09AM |
Re: Alex, the bottom line. (446 Views)
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06/16/2005 08:33AM |
Re: Alex, the bottom line. (548 Views)
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Mall |
06/15/2005 08:29PM |
Re: Alex, the bottom line. (504 Views)
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SoCalMan2 |
06/16/2005 03:02AM |
Re: Alex, the bottom line. (502 Views)
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06/16/2005 08:29AM |
Re: Alex, the bottom line. (487 Views)
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Chuckles_the_Clown2 |
06/16/2005 10:36AM |
Re: Alex, the bottom line. (478 Views)
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richiebee |
06/16/2005 11:28AM |
Re: Alex, the bottom line. (477 Views)
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Chuckles_the_Clown2 |
06/16/2005 12:09PM |
Re: Alex, the bottom line. (464 Views)
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richiebee |
06/16/2005 12:38PM |
Re: Alex, the bottom line. (541 Views)
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06/16/2005 01:40PM |
Re: Alex, the bottom line. (505 Views)
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06/16/2005 10:35AM |
Re: Alex, the bottom line. (465 Views)
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HP |
06/16/2005 10:45AM |
Re: Alex, the bottom line. (534 Views) |
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06/16/2005 11:04AM |
Re: Alex, the bottom line. (482 Views)
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JimP |
06/16/2005 11:59AM |
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