We recently published a blog entitled Banks in 2008 Versus 2020: This Time Part of the Solution, in which we contrasted the role banks played in the Global Financial Crisis versus the COVID-19 pandemic. We view banks as part of the COVID solution, evidenced by facilitation of the PPP program....Read More
Current Market Environment
The benchmark S&P 500 continued its charge higher during the third quarter of 2020, despite significant increases in COVID-19 cases and certain states such as Florida, Texas, Arizona and California seeing major outbreaks. The market remained focused on the reopening of...Read More
Insurance is generally sold “direct” by insurance companies’ paid employees or sold via agents/brokers also known as third party distributors. The economics of an agent/broker are very attractive. They charge a commission/fee for their services (typically a percentage of the premiums) and do not...Read More
During the Financial Crisis, banks were nearly responsible for the collapse of the financial system given excess leverage, toxic balance sheets, mismanagement, and questionable business practices. In the years that followed, banks were justifiably blamed for the financial turmoil and faced...Read More
When consumers purchase insurance for cars and homes (or rental homes), the concept is relatively easy to understand. From an investment standpoint, there are many positive attributes of the property-casualty business model:Read More
As we discussed in an earlier blog post (see here) we place a high premium on direct contact with management while researching potential investments, and also as part of our ongoing work on current holdings. This was the case in a pre-pandemic world, and remains the case today, despite the...Read More
As we move firmly into hurricane season, the number of storm systems heading toward (or already making contact with) the eastern United States is already breaking records.
As the Washington Post reports, this week there were seven systems working their way across the Atlantic Ocean. This...Read More
On Thursday, August 27, 2020, Federal Reserve (Fed) Chairman Jerome Powell spoke at the highly anticipated virtual version of the Fed’s annual Jackson Hole conference. In providing an update on inflation, Mr. Powell took a majorly dovish tone and reiterated the Fed’s desire for 2% inflation,...Read More
We believe the best partnerships are built upon strong relationships between people. In order for you to get to know us better, here’s the newest addition to our “Meet the Team” blog series.
Meet Steve Labbe, Portfolio Manager and Analyst at Prospector Partners. Mr. Labbe has been with the firm...Read More
Last week, we discussed how we have been active investors in the defense industry for years. There are a number of aspects we find attractive in the industry:
- Solid free cash flow yields
- Strong growth since the 2015 budget trough following the Iraq and Afghanistan Wars and the Budget Control...
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