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Markel's 2011 Annual Report


Parsad

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below is a table that shows bond maturity > 5 years (compiled from annual reports)

 

two observations:

- even though mkl seems to agree with buffett on interest trends, their bond portfolio is positioned much more in line with ffh than brk

- brk's relative risk exposure to higher interest rates is far lower than ffh and mkl's

 

 

> 5 yrs---2011---2010---2009---2008

FFH-------74%---83%----74%---71%

MKL-------71%---72%----71%---72%

BRK-------24%---24%----29%---27%

 

regards

rijk

 

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I agree.  I checked the duration of their bond portfolio yesterday over the last couple of years, and found it unusual as well, relative to their comments about interest rates.  Maybe they are hedging their bets!  ;D  Cheers!

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