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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Valueman who wrote (12802)	7/30/2001 12:22:33 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78523

Regarding insurance stocks, I am still wondering about FFH.to. I mention it now again because it is such a diversified and large player compared to ESREF. (And they are opposites in stock price too - under $4 vs. over $220. -g-) FFH.to seems to me too expensive based on p/e and current roe. (This year might be an anomaly: they say they are very strongly ROE driven.) They are pretty aggressive, imo, in acquisitions and in growing their business. I like reading the CEO's straight forward, informative and educational report to stockholders -- not that his comforting words though mean the stock is a good or safe investment. I can't seem to get the right view or consistency on these big insurance companies. On the one hand, I can't figure Berkshire, and it always looks too expensive to me. On the other hand, I can't figure AIG or MKL either, but yet I am willing to hold my very small positions in these two. Valueman, one prime reason I am holding MKL - and why I might buy FFH.to too - is a reason you stated for liking FFH: "When assets are 5X equity, an improvement in underwriting results and a meager return on assets leads to a huge ROE." Anyone else here have an opinion they care to share on FFH.to?