When I took a look at the Against the Sky Portfolio at the end of last quarter, I noted that I was going to be targeting stable large cap companies. I’ve spent some time taking a close look at some core portfolio stocks. I’ve added most of these to the portfolio during the quarter. Below is a summary of these companies as well as my investment thesis for each. (more…)
I’m a little late looking at earnings, but I wanted to make sure I reviewed the progress of Markel to check it with my investment thesis. Their third quarter demonstrated the investment gains that were expected as book value rose from $222 per share at year-end 2009 to $274 per share at the end of the third quarter, a 23% increase. (more…)
One of the larger holdings in the Against the Sky Portfolio is Markel (NYSE: MKL), a specialty property and casualty insurer. Before the market decline, Markel had built an impressive track record of both underwriting profits and investment returns. With some stability returning to the market, Markel may be poised to return to their historic price to book value. This would result in some very nice gains for Markel investors. (more…)
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