SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?


To: Paul Senior who wrote (44167)9/3/2011 7:43:06 PM
From: Spekulatius  Read Replies (1) | Respond to of 78548
 
I ended up buying ENH @ 35.2$ as well. These discounts to tangible book are almost unprecedented in the insurance industry. in 2008/2009 book values took a hit, now bonds are strong. The rational economic decision would be just to liquidate. Some companies are doing this via stock re-purchases.

For now the string of recent losses may hold up re-purchases though.

files.shareholder.com