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Strategies & Market Trends : Value Investing

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To: Junglekings who wrote (28088)	9/17/2007 11:55:28 AM
From: MCsweet	Read Replies (2) of 78740

Insurers, Junglekings et al. SUAI, SAFT, NAHC all look interesting to me. NAHC is in a niche market and has an shaky history, so I have been buying/selling that one at much lower price-to-book ratios than the others. SAFT seems better managed to me (with a nice buyback and yield), so I would buy and sell it at a premium to the others. I am concerned about exposure to Alt-A and subprime paper (though these companies mostly claim low exposure to subprime) and increasing competition. However, I have tended to do well buying sound and profitable financial companies near or below book values. I must admit however that I wish I were better versed in the insurance business. By the way, PTA is another possibility for the strong of heart. They were delisted due to delays in SEC financial filings but are trading well below book and hopefully will be relisted. Their is definitely hair on that one, though. MC

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