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

To: Spekulatius who wrote (51267)	4/9/2013 5:22:43 PM
From: Jurgis Bekepuris	Respond to of 78618

L - Yeah, Brooklyn investor posted their annual review. He's a bull and he's close to convincing me. :) My problem is that I am already overloaded on insurers (AHL, ASFI, AXS, CI, RE, RGA, BRK, MKL, FRFHF, GLRE), energy (CVX, MAUXF, TOT, STO, PMGLF, DRAGF), and "value investors" (BRK, MKL, FRFHF, BH, GLRE) plays.... Not sure whether I should add L to that pot...

To: Spekulatius who wrote (51267)	4/10/2013 1:04:45 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78618

L - comic book... I liked the pigeons. :))))) I am still not convinced about CNA improvement. I looked at CNA annual report and 10K. They don't give company-wide combined ratio. This is IMHO a bad sign. Why boast about your income in 2012 and not give shareholders combined ratio? Why write this "we improved our core Property & Casualty accident year loss ratio, *excluding catastrophes" - do we really care that they improved a ratio that excludes one of the most important parts of their losses? You know, I really improved my portfolio performance ratio excluding stocks that went down*. Go me. Why not talk about the book value growth? Perhaps because it's only 7%? So, no I'm not convinced CNA is going to improve if they cannot even talk straight. I have not looked at DO recently, although they might be OK. And I have no thoughts on their MLP and E&P. I guess mostly I'm not happy about CNA. :) Perhaps to be continued... :)