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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (196434)10/9/2002 11:20:20 AM
From: reaper  Read Replies (1) of 436258
 
i have not really shorted insurers, as i don't really understand the financial statements. and that has cost me.

i am short NFS, which gets a big part of its business from annuities (big capital markets risk). i also recently shorted Chubb on the departure of their CFO -- this is pretty much an 'auto-short' rule for me. a long time ago i was short Mutual Risk Management (MM), which was a workers comp reinsurance business that went BK; the financials there were so dreadful even i not really understanding insurance financials could tell they were bad.

i am also short the mortgage (MTG, RDN) and credit (MBI, ABK) insurance companies, if you consider those to be 'insurance'.

am looking in the life, property & casualty, and workers comp area for targets but except for Chubb have not come up with any yet.

Cheers
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