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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (32058)9/18/2008 1:05:57 PM
From: Paul Senior  Read Replies (2) of 78659
 
Madharry, yes, very scary. I'll add to my very losing GNW position now though a little. I presume insurance companies like GNW which are in the business of issuing long-term care policies realize protection of their capital has to be a prudent policy. For GNW, that'd mean carefully diversifying risk among their $72B of total investments. And not using leverage like investment firms have been doing. But who knows what any of these firms do - managers stonewall/lie/have no understanding --everything they report seems so suspicious and so opaque.

I understand that the media says GNW is exposed/overexposed to the housing market. Without further info/clarification from the company though, I'm going to assume with the balance sheet that I see (Yahoo), that okay, they will or might take a hit to earnings, but that they ought to survive. Otoh, perhaps all these companies are burnt toast and the whole financial system is corrupted: The short sellers or panicky institutional holders have just made GNW today's latest target.
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