muscleman Posted February 21, 2014 Share Posted February 21, 2014 This is not an investment thesis but more like a postmortem. I looked at RDN back in 2011 but couldn't understand it. I felt like it was trading at a 50% discount to book, but it kept losing money, so the MoS could erode quickly. Now it is up 300%, trading at 2.6 times book, and still losing money. Does anyone understand these insurers? Should I value it based on adjusted book value, like MBI? Link to comment Share on other sites More sharing options...
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