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

To: Spekulatius who wrote (34832)	7/3/2009 3:25:06 AM
From: Paul Senior	Read Replies (3) \| Respond to of 78717

Yes, ALL's tangible bv has been crushed, and ALL's dividend chopped. Of course, so has the stock price. The current dividend yield annualizes to about 3.3%, which isn't very attractive. And that management had to cut the dividend is itself very worrisome. At the current lowered stock price, p/bv = 1.05 and p/tbv = 1.13. That's not too bad. In normal years p/bv has varied roughly between 1.4-1.8. If credit market improves and/or management can get better control of the company's poor investments, the stock could trade at those p/bv levels once again. (I hope.) Here's where I am with the top market cap P&C companies: biz.yahoo.com BRKA: Looking to short BRKb AIG: Avoiding - I've no interest in looking at it. TRV: Holding an exploratory position. Maybe an add @35 on no adverse news ACE: Building a position if/as stock continues to fall. CB: Building a position if/as stock continues to fall ALL: Holding on to my losing position L, PGR, FFH, etc. -- no interest