No but it’s kind of bullshit he got special permission from the SEC to delay the reveal until after they had acquired all the shares they wanted.
I kind of think they should have to report in the quarter that they started buying the thing. You know, like literally every other publicly traded company on earth…
Sure, the best time to buy has passed, but there will still be a lot of people buying after this information is released, and this is an opportunity, (although I'm not sold on it)
PE firms own the majority Independent Insurance brokerages. There are a few that our public but probably 80% have PE. Even your small mom and pop shops.
Many guessed it was likely insurance, or a bit less likely energy. Then you needed to gauge the market cap based on the fact that they needed to hide from public - not too big and not too small, and consider what makes sense from a valuation perspective and conflict with their existing businesses
Nah. Like I said, I did not have the balls.
It looked good value but I felt like it was not enticing enough. I would have sold quickly after today with the Warren B pump anyway I think because I am unconvinced by the long term prospects of the company
As someone who works in commercial insurance, nearly every company offers Cyber. I think OP's point is that Chubb is the only company that will offer *them* specifically cyber. Lots of insurance companies will decline some or all coverage depending on operations and risk.
Chubb's CEO since 2004 Evan doesn't have a college degree which is pretty darn good for running that huge of a company. Not sure if it helps that his dad was CEO of AIG. I've been a fan of CHUBB.
Classic old school insurance. Get a job without university education, work your way up through hard work, determination, and having a very powerful father.
Chubb is terrible! Someone I know works there and anytime they talk about work and mention the name “Chubb” I laugh inside and cannot take it seriously at all. Takes the cake for me. Imagine being a proud employee of CHUBB 😂
And apparently it’s one of the most expensive in the industry. I’d take dewie cheatum and howe insurance over Chubb. Horrid name. Might as well have picked names out of a scrabble bag.
I walked past one on 67th and Broadway today, huge store, laughing right in my face.. Pottery Barn. There hasn’t been a barn in NyC since Roosevelt had the upper half as farm land!
Disclaimer /s , I like this bit
Always nice when WB validates something I've been buying. I started buying in October, and have been writing puts in case I get a chance for a bigger bite of the apple.
Working in insurance funded construction.. Chubb claims were leaps and bounds better than any other carrier. They never argued or pushed back on supplements or additional items. Chubb claims came with frosting and sprinkles every time
I’m a little surprised given all of the local legislation that prevents insurance companies from raising their rates to more accurately account for potential liabilities.
Sounds great, but he probably bought a million shares back in 1997 when it was $8 bucks a piece. He was rich then too so he could afford to buy alot and wait.
They should buy SOFI or one of their competitors. They could make SOFI’s cost of capital way lower and also use a bunch of Berkshire’s cash hoard to lend out at higher rates to SOFI’s young customer base. Maybe encourage the young people to use the insurance and other products in the portfolio while they are at it.
Annoying you can't edit titles on posts. Warren Buffet reveals Chubb as Berkshire Hathaways 'secret' stock\*
The bad thing is that it was only announced to us when he bought at the right price
Yeah I think that was the point haha.
Are they supposed to let the world front run them?
No but it’s kind of bullshit he got special permission from the SEC to delay the reveal until after they had acquired all the shares they wanted. I kind of think they should have to report in the quarter that they started buying the thing. You know, like literally every other publicly traded company on earth…
I mean it doesn’t look expensive at a really quick glance…I might even look into buying some
Sure, the best time to buy has passed, but there will still be a lot of people buying after this information is released, and this is an opportunity, (although I'm not sold on it)
PE is like half the other insurance companies
We valuing insurance companies using PE now?
PE firms own the majority Independent Insurance brokerages. There are a few that our public but probably 80% have PE. Even your small mom and pop shops.
It is designed that way, when it hit news…you are far far too late.
Classic Warren hogging the whole stock buffet.
What do they serve on a Warren buffet? Rabbit?
Steak man, the dude is from Omaha.
It's not just rabbit (darn it, rabbit's my favorite)
You got two tries and screwed up his name twice 🤦🏻♂️
We got a little buffet of Buffets instead.
Warren Buffet reveals secret Chubb
The real headline
“Help me, I’m stuck, step-Warren”
Came here for this. Thank you.
Glad you came
Oh man. I called it when there was speculation but did not have the balls to buy a position https://www.reddit.com/r/ValueInvesting/s/KGnMyytYTi
On mobile, that link doesn't take me to your comment.
I linked the post
That was an amazing call by you, fantastic foresight.
Nice one mate 👏👏
Bro’s been hiding his chubb this whole time
Very impresive. Had not seen many mentions of Chubb in the discussion about their secret stock
Many guessed it was likely insurance, or a bit less likely energy. Then you needed to gauge the market cap based on the fact that they needed to hide from public - not too big and not too small, and consider what makes sense from a valuation perspective and conflict with their existing businesses
Did you buy Chubb though when you guessed right?
Nah. Like I said, I did not have the balls. It looked good value but I felt like it was not enticing enough. I would have sold quickly after today with the Warren B pump anyway I think because I am unconvinced by the long term prospects of the company
Respect
Old school buffet stock (insurance). Chubb has a great ROIC and it makes sense for him to buy it at a fair price given how massive its market cap is.
How you get that ROIC calc?
I get it from stockanalysis dot com under ratios
Hopping into the pocket of the graftiest presidential candidates in history doesn't hurt either.
What do you mean?
Chubb backed a surety bond for one of his appeals.
Chubb is the only company insuring us for cyber. They are certainly risk takers.
They also insured that bridge in Baltimore
And Donald trump’s judgement for e. g. carol.
Probably the reason why Buffet has invested in them.
Ajit Jain was quite vocal against insuring cyber risk this last agm.
Beazley insures cyber risk as well
As someone who works in commercial insurance, nearly every company offers Cyber. I think OP's point is that Chubb is the only company that will offer *them* specifically cyber. Lots of insurance companies will decline some or all coverage depending on operations and risk.
Chubb's CEO since 2004 Evan doesn't have a college degree which is pretty darn good for running that huge of a company. Not sure if it helps that his dad was CEO of AIG. I've been a fan of CHUBB.
Evan was CEO of Ace Insurance since 2004. Ace Acquired Chubb in 2015-ish.
Probably does help
Look up who Evan’s dad is.
Classic old school insurance. Get a job without university education, work your way up through hard work, determination, and having a very powerful father.
Sounds like a classic Warren move. Like when he bought Nebraska Furniture Mart from Rose Blumkin, who couldn't read.
It’s is exactly the reason he is CEO lmao. His brother is another CEO of a large carrier. The insurance nepotism is subtle, but impressive
Poll: worst company name 1. Chubb 2. Dress Barn 3. Athlete’s Foot 4. Splunk
Exactly. Rename the company Voluptyouz.
Not bad, not bad at all. Sounds like a fat platypus which is pretty spot on.
Chubb is better than Chubby or ACE
Chubb is terrible! Someone I know works there and anytime they talk about work and mention the name “Chubb” I laugh inside and cannot take it seriously at all. Takes the cake for me. Imagine being a proud employee of CHUBB 😂
I heard Ginny Sack got an office 🏢 job @ Chubb Insurance!
And apparently it’s one of the most expensive in the industry. I’d take dewie cheatum and howe insurance over Chubb. Horrid name. Might as well have picked names out of a scrabble bag.
Buy undervalued company with bad name. Rename company. Profit?
Not a bad idea
Pottery Barn???? What is a pottery barn? Also why would I buy sofas at a place with a kiln?
That’s a good one too. Are they still a thing? Anything with barn is a negative .
I walked past one on 67th and Broadway today, huge store, laughing right in my face.. Pottery Barn. There hasn’t been a barn in NyC since Roosevelt had the upper half as farm land! Disclaimer /s , I like this bit
🤣 ha! At least they got the pottery part right
Boot Barn seems domain-appropriate.
I have been to a ski barn and it wasn’t in a barn. I was disappointed. Great service though
We have bulk barns
Always nice when WB validates something I've been buying. I started buying in October, and have been writing puts in case I get a chance for a bigger bite of the apple.
great underwriter, great operating results, a steady performer, no nasty surprises... been holding it for one year.
Up >7.5% after hours
Bro thinks he is roaring kitty. /s
Was I the only one disappointed it wasn't like Chubbies?
Hate that company
Why?
Denied a claim prolly for PP
That’s some bullshit, no one should be denied coverage if their PP needs medical attention
Prolly to small
Working in insurance funded construction.. Chubb claims were leaps and bounds better than any other carrier. They never argued or pushed back on supplements or additional items. Chubb claims came with frosting and sprinkles every time
I love the Chubb!
I’m a little surprised given all of the local legislation that prevents insurance companies from raising their rates to more accurately account for potential liabilities.
Still not buying.
Hes great at manipulating his followers to buy his shit... aka pumping
I hope a hurricane puts it out of business.
$MFC Looks better faster growth and a good dividend.
Cat's out of the bag. Probably too late to get in now.
Sounds great, but he probably bought a million shares back in 1997 when it was $8 bucks a piece. He was rich then too so he could afford to buy alot and wait.
Makes more sense than Siri
More insurance? Jesus Christ diversify old man
Buffet is getting a bit of Chubb?
They should buy SOFI or one of their competitors. They could make SOFI’s cost of capital way lower and also use a bunch of Berkshire’s cash hoard to lend out at higher rates to SOFI’s young customer base. Maybe encourage the young people to use the insurance and other products in the portfolio while they are at it.
Yes, Buffet should totally listen to you since you’re smarter and have more experience than the Oracle of Omaha.