The stock market is rallying in almost all segments, yet when the Dow goes up almost 250 points ORI goes down 48. Does anyone know what the hay is going on? If anyone is tied to ORI or any of its affiliates speak up if you have something to offer. Remember that you are just a made up name on the net.
I've been thinking a lot about this and FWIW, have some thoughts: You hear lately that the darlings of Wall Street are the high-tech and Internet stocks. Microsoft, for example is at a P/E of 70.2. You also hear of Internet stocks that haven't ever made a penny of profit going for huge runups. Does this really make sense??I don't know, but against this backdrop, staid and stedy performers like most financial institutions look pretty tame; thus, they don't get the investment play.OTOH, I don't feel there's any bubble to burst with ORI or some of the others. Also, look at ORI compared with the DJIA and S&P 500 for the past 5 years ( you can look up the overlay charts right here).ORI performed almost identical to the indices from Jan "94 until 1997, when it took off; then, it went back down and now is on a par with the indices. IOW, if you ignore the runup in value of ORI for '97/98, you've matched the major indices.Like most, I mourn the drop in value from mid-98, but realistically, I know I'm in a good long-term position.If the Internet bubble does burst, I would expect the steady performers to look more attractive again.Just my opinion. BTW, there's been some commentary about the chairman selling stock. Look at the report ( On Yahoo ) now; he's kept a bunch for a net increase .