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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (8126)9/1/1999 11:27:00 PM
From: James Clarke  Read Replies (1) of 78819
 
As long as we're making garbage insurance picks, mine is Reliance. Haven't bought it yet, but I think the price is about right. $8 or 9 of book value, they've taken a big writedown already, and it trades at 4 3/4. It seems to be hanging in there at this price after a panic selloff. Maybe everybody who was going to sell already has. Any thoughts? What's stopping me from buying it? 30% of my portfolio is already in insurance between Ambac and Berkshire.

JJC
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