Nuclear attack? Let's think this through.
If I were in the insurance biz (as Buffett is), then yes, I would be talking about nuclear attack because, particularly at this point in history, there is heightened awareness that such a thing might possibly be attempted.
The two largest obstacles are 1. intelligence (CIA) and 2. military readiness. Both are significant obstacles, in my opinion.
This reminds me of the rational for skyrocketing insurance premiums in California back in the late '80s, early '90s because of the certainty that, one day, the "big one" would occur (earthquake), and that California would fall into the sea.
That hype roughly coincided with the bottom in the California real estate market.
Buffett's willingness to allow his company to write policies against further terrorist attacks speaks volumes, to me, at least. I'm a fan of Buffett, don't get me wrong, but business is business.
PB |
