P&C insurance company ACE Limited (NYSE:ACE)
is another of those examples of the sometimes-frustrating difference
between a company and a stock. As a company, I think anybody who follows
insurance will appreciate and admire how ACE limited runs itself. As a
stock, though, the shares didn't look cheap a year ago
and they still don't look all that cheap today. While ACE arguably
still merits a place in a long-term portfolio and has ample capital with
which to build the business, it's hard for me to work up a lot of
enthusiasm for buying shares today.
Read more here:
ACE Limited Earns Its Premium, But Excess Capital Weighs On Returns
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