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Along the same lines as Chubb, what about Cincinnati Financial? They have done well over a long time and are a boring outfit that investors do not seem to talk about much.

Well if forced to choose I guess walking the walk is more important than talking the talk.

I bought FNF, the majority owner of F&G, because they seemed like a solid and boring business and because the title insurance business does not have a lot of risk. After they spun off some F&G I bought a few more F&G shares, mostly just tidying things up. I have been eying F&G after the recent price decline but I think the annuity business must have more insurance risk. I ASSUME F&G is also solid and boring like FNF but I don’t know. Portfolio neatness plus greed isn’t much of a thesis Does anyone here know F&G well? Thanks.

NVR from your port caught my eye and I recently read a good book, Hidden Investment Treasures by Daniel Gladis, which has a chapter on NVR and which you might find interesting.

I recently joined this site because of the thread on insurance brokers, which I am interested in but have not yet got around to buying. My port is nothing special and frankly a bit of a mess. There are a few older and larger positions and the rest are from the last five years. Cash came in from a real estate sale in 2021 and I thought the US markets were expensive so it mostly went into value names, still have about 5% to invest. Berkshire Hathaway 28% Bank of America 14% State Street 9% Dollar General 4% Imperial Metals 3% Canadian Pacific 2% OSB PLC 2% Energy Transfer LP 2% Asbury Automotive 2% McDonalds 2% Equinox Gold 1.5% Northrop Grumman 1.5% Fid Nat Financial 1.5% Burford Cap 1.5% Newmont 1.5% Brit Am Tobaco 1.5% Millicom 1.5% Qualitas Contoladores 1.5% Nintendo 1.5% BMW 1% CK Hutchinson 1% Royalty Pharma 1% Imperial Brands 1% Cenovus 1% Currys PLC 1% Petrobras A 1% Stellantis 1% Total 1% F&G 1% Ambev less than 1% Admiral PLC less than 1% KT Corp less than 1% Energean PLC less than 1% Alphamin Resources less than 1 % Rubis less than % Harbour Energy PLC less than 1% Kosmos Energy less than 1 %

That is very helpful. Thank you. I enjoyed reading your two articles which were most informative.

I noticed you own FG Annuities and I would appreciate any thoughts you might have about it. Recently I got a few shares spun out from FNF and am thinking about buying some more to make a small position out of what at the moment is an annoyingly tiny ammount. It appears to be cheap. Thanks in advance!