So Monty has been buying back 10% of their stock per year, eh? After 10 years, wouldn't the stock be really high price because the supply is essentially gone? Oh wait...another riddle. Why is the stock today Lower than the IPO price 10 years ago ?? Rat on wheel RE ? Oh....wait....let's blame it on Katrina in 2005....that's a convenient excuse for the enormous mediocrity of Bermuda RE ? Let's send Tom a retirement turkey for Easter, he deserves golden laurels, he was just That good.
1st quarter 2013--During the first quarter of 2013, the Company repurchased a total of 1,494,022 common shares at an average price of $24.60 per share ($37 million). During the second quarter of 2013 to date, the Company has repurchased a further 600,000 shares at an average price of $25.75 ($15 million
In the first quarter they bought back another 2.6% of the outstanding shares.