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Strategies & Market Trends : Value Investing
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To: Dale Baker who wrote (17057)5/13/2003 10:38:16 AM
From: Paul Senior  Read Replies (1) of 78998
 
ramble regarding insurance stocks: Yes, still holding ACGL.

There's not much discussion of past insurance picks here. There could be. Many of the insurance stocks people have mentioned here have done pretty well over the past few years. For example, IPCR which you also mentioned. For some balance to the discussion, I could recall (but I prefer not to -g-) a least a couple of insurance picks I made that subsequently went right down into bankruptcy. Ouch. Ouch. OUCH!

I would say my biggest regret recently as regards insurance stocks is my failure to add to positions in either or both of ABK or MBI when they were around lows a few months ago.

We had a case of a short attack by an apparently dink hedge fund (whose negative report on MBIA was subsequently revised after MBIA officials complained of its "inaccuracies"). These two companies and stocks have been talked about many times over the past few years here and on the Buffettology thread. For me, it was a case where I owned the companies and had some confidence (though not enough apparently) in their management and business, and from discussions with others on the threads I knew where the good buying points might be. I just did not have the courage to buy when those points showed.

finance.yahoo.com

Naturally, having regrets is part of buying and selling and of not buying and not selling.

Of course though, one is still grateful for the blessings one does receive.

Paul S.
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