r59, I made the case against Florida insurers last quarter, and said risk is catching up to reward as competition is increasing through many new startups; pricing is beginning to decrease (see FNHC this year and last), reinsurance costs cant stay down forever....yada yada yada. And I sold most all my FL insurers the past few months....including my large FNHC position. I've bought some of those back, but a fraction of what I've had, and for trades. This has been an unbelievably strong micro sector the past few years, and that may continue for some time (especially with no big storms ). But again, for me, well I can no longer be super overweight the sector, but I can place some bets.
re the SA article...I've seen the same guy post the same basic article before. He's short UVE, and doesnt like reinsurers.....I agree with him about those two. For the most part, I treat seeking alpha articles equivalent to Yahoo posts.....they can be lots of great value if you find the right poster (one in a hundred), but for the most part they are either pumps or dumps trying to temporarily move a stock to benefit the author.
best.
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