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

To: Paul Senior who wrote (32381)	10/9/2008 11:47:15 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78702

STT, MET and insurers - Business cannot be good for insurers. They are in the "confidence" business and with a stock chart that looks like a black hole, how are they going to close on long term insurance contracts? Everybody who is in the "confidence business" like Banks, insurers, money managers, hedge funds etc. are in big trouble. I closed a term life insurance contract with Transamercia last year (runner up was AIG direct) and keep on checking their stock quote (Aegon owns them) every time I sent them my monthly payment. The health insurers are somewhat better off because their contracts are short term in nature, IMO I think eventually the government needs to backstop everything in the "confidence business" , banks, money managers, insurers, commercial paper issuers etc. to break the viscous circle of distrust that stall the whole economy. I sold STT for a smallish loss today near the intraday height - one of my "lucky" trades today. Bought some UL today on the rapid fall because i figure that people still will eat some food going forward.