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

To: Wallace Rivers who wrote (16381)	2/7/2003 7:49:48 PM
From: Paul Senior	Respond to of 78702

Wallace Rivers. Maybe it is getting close for ALL again. I believe it was mentioned here as a buy around the $28 level a few years back when it cratered on poor earnings. As I posted, I sold my shares last year. Thanks for mentioning ALL: I'll get ready to try again, if, like you, I can get at lower prices. I'm guessing ALL's drop may have something to do with AIG as well as the general market decline. AIG's BIG add to their reserves this week - supposedly (we don't know the real reasons, I'm guessing) for P&C business - has spooked the insurance market. Idea being, if AIG fesses up to having underreserved for several years' past - and they are the biggest and presumably among the smartest (supposedly they would not write poor business that other insurers though then did accept)- then those other insurers will soon be forced to acknowledge that they too have under-reserved. And this goes back up to reinsurers too. Not a pleasant time to be an insurance stock investor. regarding TECD. My model for distributors is to buy them only under book value. This hasn't worked too well lately. Not much has. My new idea is that, given a week or so like the past four, to cash in my stocks, run away from the wife, and just use the monies I can escape with to date real models. :>) Paul Senior