Just a quick note to let everyone know that the recent inactivity of my blog is a function of my current duties of military service. I will be back online very soon and will notify all readers via email when I am.
I haven’t had the opportunity to address the stagnation in CNO’s stock price. I can’t explain but I don’t have to. Remember, all my analysis included massive margins to safety. The primary reason for including ultra-conservative assumptions in equity analysis is for peace of mind and invariably – large returns. As an investor I cannot concern myself with mainstream sentiment (which I consider noise and is precisely why I watch no televised news – it’s a self-licking ice cream cone that, in my opinion provides the individual investor no value)
To put this philosophy into perspective, let me provide an example from my recent personal investment portfolio. Back in February of this year, I invested 25% of my net worth into Allied Irish Bank (AIB) at $3.00/share. I will withhold a full analysis of AIB for now but my analysis was very similiar to that which I have written about for GNW, CNO, RBS-T. As I watched AIB shrink to sub $1, I lost no sleep because I believe in value, common sense and equity analysis – not the current public sentiment, fear or rumors. As AIB trades today at $6+, I do not assert that it won’t shrink again, but I do know that I will sell AIB, GNW and CNO for a price greater than 400% than what I paid. When? I don’t know and I don’t care but common sense prevails eventually which is why I sleep like a baby every night.
I look forward to resuming daily updates here but for now, I must attend to my primary duty and service to the country.
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