Four months ago, I was not too keen on paying up for W.R. Berkley (WRB)
shares in the face of an increasingly difficult insurance environment,
higher leverage, and a rich valuation. Since that late December piece, WRB shares are basically flat, while my preferred choice, RenRe (RNR),
is up around 10%. On a positive note, W.R. Berkley continues to execute
at an above-average level, and that makes it a little harder to fret as
much about the valuation.
Follow this link for more:
The Going Is Getting Tougher And W.R. Berkley Is Still Going
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