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

To: Jurgis Bekepuris who wrote (55333)	5/21/2015 2:28:07 PM
From: Mattyice	Read Replies (1) \| Respond to of 78753

You have some good obvious points.. There is just nothing really there that moves the needle - I am passing. Thanks for your feedback though. MATTY

To: Jurgis Bekepuris who wrote (55333)	5/21/2015 3:34:42 PM
From: Spekulatius	1 Recommendation Recommended By E_K_S Read Replies (1) \| Respond to of 78753

You can justify paying 2x book for an insurer, if the moat is sustainable. When WEB purchased the remainder of GEICO, he paid more than 2x book. He paid 70%/share while Geico was earning 3.66$/share that in 1995. Geico's book value was ~27$ at that time. It worked out well for him. I think PGR is a very well run insurer and they have a low cost advantage and good management. I think buyers at current prices will do well over time. sec.gov