In Street Name Your capital is at risk when you are investing in equity markets, but I assume very few consider the broker as a potential risk. But the fact is that your capital might be at risk if the broker goes bankrupt. Not only your cash deposit but also your shareholdings. How is this…
Gjensidige, for non-native speakers an unpronounceable name, is a quality Norwegian insurer. I’ve been long since the IPO in 2010, and in this analysis of Gjensidige I briefly bring forward some arguments why I still own the stock (and why intend keeping it). Historical performance – boring is good: Gjensidige has delivered significant alpha since…
This article contains some brief notes on Admiral Plc, a UK insurance company listed on London Stock Exchange with the ticker code ADM. It’s included in FTSE-100. The business: Admiral was formed in 1990 with Henry Engelhardt as the main founder. It was listed/floated in 2004 with a valuation of 700 million GBP. Today’s market…
We buy back stock when we think it’s attractively priced relative to our assessment of the intrinsic value of the enterprise. – Robert Berkley on the 1Q2020 conference call. The business: WR Berkley (NYSE: WRB) is an insurance and reinsurance company. Their biggest line of insurance is excess and surplus lines and specialty insurance. These…
Berkshire Hathaway needs no introduction, but what many investors might not know is the existence of several “Mini-Berkshires” or “Baby-Berkshires”, companies that are much smaller but in many ways similar both in business model and mindset of the management. One of these companies is Markel Corporation which is traded on the NYSE and has the…
