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

To: Carey Thompson who wrote (32617)	10/27/2008 1:17:39 PM
From: Jurgis Bekepuris	Respond to of 78748

Carey, I've come to the conclusion that investing in insurance and reinsurance companies is a faith based investing. It is impossible to know if they wrote insurance (and re) at good price points. It is tough to know what they are exposed to. And it is tough to learn what they have invested the proceeds into. Any of these parts of the chain can blow up into huge mess as we know from AIG and you are seeing with ORI. I faith invest in BRK and WSC. I tried to buy some SWCEY on Buffett's investment that is now very under water. I am thinking of buying MKL and Y that are often called mini-Berkshires, but I am not committed. A friend suggested AFL, you recommend ORI. I am not sure I will buy them at all. I also have some GNW and AIG bonds and I am probably more sanguine about them. I missed an opportunity to get rid of GNW bonds last week for significant gain though, so I may have to bear the risk for a while longer.