In your analysis you leave out “Unpaid losses and loss adjustment expenses” from the liabilities side of your calculation, among some other important balance sheet accounts. Is there a reason? My version of MKL valuation is very similar except my net short investments is about $9.4B
Hi Nick, Can you explain to me why if Tom Gayner is correct the market so under prices MKL's shares and has done so for so many years? I suppose what I am wondering (speaking as a MKL shareholder) why the shares have been so lack luster for so long if it is such a great company?
In your analysis you leave out “Unpaid losses and loss adjustment expenses” from the liabilities side of your calculation, among some other important balance sheet accounts. Is there a reason? My version of MKL valuation is very similar except my net short investments is about $9.4B
In fairness Tom Gaynor does say in his speech that it will take time. But I don't know if I have the patience to wait 12 years as he suggests :-)
Hi Nick, Can you explain to me why if Tom Gayner is correct the market so under prices MKL's shares and has done so for so many years? I suppose what I am wondering (speaking as a MKL shareholder) why the shares have been so lack luster for so long if it is such a great company?
This was dope, thanks. Gonna share this in my newsletter on Sunday.