There has been a lot of optimism recently regarding improvements in insurance pricing. Unfortunately, it is hard to know how much credence to put into this optimism as insurance company executives suffer from “overexuberance complexitis” continuously predicting pricing turns that usually die before they get started. Thus, today’s topic is Continue Reading
Why the Uber and Lyft IPOs Failed
tl;dr Private markets distort valuations because there are only bulls setting prices Uber is down nearly 20% from its IPO with Lyft down over 30%. Someone must surely be to blame! Did the bankers give bad advice? Were the managements too greedy holding out for the best price? Did the Continue Reading
What We Really Can Learn From Buffett
There have been a lot of headlines out of the Berkshire Annual Meeting about how BRK stock has underperformed the S&P over a ten year period. Today, I will explore some of the reasons why. I’m sure some readers’ blood pressure readings already have spiked. How dare I criticize Buffett, Continue Reading