DewDiligence Wednesday, 08/05/20 05:44:13 PM Re: DewDiligence post# 81 Post # of 91 MET—(-6%/AH)—reports 2Q20 results—the main negative in the quarter was not COVID-19 claims, but rather losses on private equity and derivative securities: https://finance.yahoo.com/news/metlife-announces-second-quarter-2020-201500963.html https://s23.q4cdn.com/579645270/files/doc_financials/2020/q2/MET_2Q20_Supplemental_Slides-FINAL.pdf https://finance.yahoo.com/news/metlife-quarterly-profit-nosedives-lower-201514460.html Quote:MetLife said it had higher COVID-related claims during the quarter, but did not provide specifics. The disease's effects in the third quarter would be largely offset by underwriting margins, the company said. MetLife reported $710 million in net derivative losses, compared with $724 million in derivative gains a year ago. That’s a $1.43B negative swing, YoY, but I can’t really complain insofar as MET gained $4.2B on derivatives during 1Q20 (#msg-155475813). “The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”