Been watching this for quite some time, missed getting in on the 2000 selloff but took an initial position today. For my Graham-like view this is just too good to pass on. At ~60% of book, I don't mind collecting the 4.3% divvy while waiting for it to get through the present bumps in the road and perhaps expand its share of the better-quality portion of the MI business. Perhaps could dip a bit lower -- the 2000 bottom appears to have been about 55% of book according to Value Line -- but seems like we must be pretty close to the cyclical bottom.
1. read the annual and 10-K. 2. pay special attention to charts at beginning of 'glossy' annual report and section on hist perspectives 3 apply thought 4. understand the L-T (39 years) underwriting and investment objectives of ORI through the 10k 5. look at the dividend record of 39 annual increases 6. Buy shares, relax and collect dividend. maybe even get rich, if you can hang on for a while and let it compound.
10K invested in the S&P 50, 39 yers ago, today would be wrth approx $870K. Th same investment ORI would be worth $14.7M today. buying during the previous 'panics' in 2000 and late 80's would have boosted the return further
yes...15.5 is a good buy, IMO....bot a piece and will do some tomorrow if call goes well...i think they will benefit from the debacle over at RDN, MGIC,...also, titles should do okay even with foreclosures
Last time ORI was selling for below book was about 10 years ago. Would have been a good buy then-- I don't see why now is so much different. (Every 10 years or so the mortage market has to clear itself of abuse)