ke4436

Geico customer from Texas with Car, Home, and Umbrella bundled, no claims ever. 2023 Geico increases: Auto +25% Home +40% Umbrella +50% geico representative told me they couldn't lower any of the increases.

The original Munger quote was in reference to his friend taking older construction equipment back in part exchange for new, and so at the end of the year, instead of being left with cash, his profit was in old construction equipment sitting in his yard. In other words, the business was not really generating any free cash flow. Thanks.