Posted On: 01/11/2016 10:07:53 AM
Post# of 37
GLRE is an amazing opportunity and a new position for me that literally took five minutes to come to a conclusion about. In the Reinsurance business, it's unheard of for a company to have no debt on the books. With a book value of $24, you're able to purchase Greenlight RE, and the benefit of one of the greatest activist/value investors on the planet (David Einhorn), for a 23.5% discount to book.
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"The more numerous any assembly may be, of whatever characters composed, the greater is known to be the ascendancy of passion over reason." - Federalist no. 58
