MIGP up big today

On news that an activist hedge fund has taken a 5% stake. I bought this company a couple months ago at book value. I continue to believe that there is little risk in buying good insurance companies near book value as long as they do not have large exposure to catastrophes.

Disclosure: I hold shares of MIGP. See the disclosure policy. I own other insurers as well, including RTWI, BRK.B, and the preferred stock of QNTA, QNTAP.

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