BargainValueHunter Posted May 6, 2012 Share Posted May 6, 2012 http://brontecapital.blogspot.com/2012/05/thoughts-on-berkshire-meeting-and.html Long term care insurance is the worst business I have ever seen. Warren of course never told us that - but somehow he wound up re-insuring it. I guess he did not want to explain his stupidity. Very harsh but interesting nonetheless. Link to comment Share on other sites More sharing options...
Rabbitisrich Posted May 7, 2012 Share Posted May 7, 2012 Is Hempton's description of the sales team (commissioned, older, conversational) a valid depiction? GNW pushes long-term care insurance through the AARP network. Can you launch an affinity sales strategy to 40+ MM people? Link to comment Share on other sites More sharing options...
ragnarisapirate Posted May 7, 2012 Share Posted May 7, 2012 http://brontecapital.blogspot.com/2012/05/thoughts-on-berkshire-meeting-and.html Long term care insurance is the worst business I have ever seen. Warren of course never told us that - but somehow he wound up re-insuring it. I guess he did not want to explain his stupidity. Very harsh but interesting nonetheless. Harsh, but right... Link to comment Share on other sites More sharing options...
prevalou Posted May 7, 2012 Share Posted May 7, 2012 The argument about BNSF is inaccurate. In 2011, BNSF invests 1.8 B$ more than depreciation. If pretax profit is 5 B$, then pretax free cash flow is 3.2 B$ and after tax free cash flow is 2 B$. So this amount can be distributed to pay claims. Link to comment Share on other sites More sharing options...
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