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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (37818)5/7/2010 12:07:42 PM
From: Dan Meleney  Read Replies (1) of 78750
 
NAVG...looks like a nice long term buy...but...are you concerned about:
Loss ratio is up
Combined ratio up to 99%+
P/E around 10 for years, is there a catalyst or is this just buy & hold forever? (although if earnings hit $4 this year, that would give about a 25% gain)

P/BV gives some buffer should muni investments be overvalued a bit...not much investment in mortgages

I like what I've seen, especially the buyback, but I'll have to read full 10Q before I decide to buy or not.
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