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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (44167)9/3/2011 7:43:06 PM
From: Spekulatius  Read Replies (1) of 78568
 
I ended up buying ENH @ 35.2$ as well. These discounts to tangible book are almost unprecedented in the insurance industry. in 2008/2009 book values took a hit, now bonds are strong. The rational economic decision would be just to liquidate. Some companies are doing this via stock re-purchases.

For now the string of recent losses may hold up re-purchases though.

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