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Markel Corporation (MKL)

NYSE - NYSE Delayed Price. Currency in USD

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Visitors trend2W10W9M

1,303.87

+11.01

(+0.85%)

At close: 04:00PM EDT

1,290.57

-13.30

(-1.02%)

Pre-Market:

07:09AM EDT

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T
Does anyone here follow Fairfax Financial, a company run by "Canadian Warren Buffett" Prem Watsa? What do you think of the company?
j
Well, stock is not exactly cheap but is fair valued. However if Buffet takes over, will have short boost of price, while long term compounding will go to Berkshire. Is actually bad news for retail investors, cause Berkshire can grow max 8 %, while Markel grows 12 % or even higher
Bearish
C
Berkshire bought $620m of Markel.

Guess we know who the big buyer was...
P
https://tradeideas.tips/EqwHw
R
MKL reports Q1 results. Insurance operations and Markel Ventures doing just fine, investment portfolio down (not a huge surprise there, LOL). Combined ratio of 89% (very good), revenues up, etc. NAV declilned about 4% from Dec 31st (looks like it's mostly due to falling stock prices). Naturally, the price is down a bit after hours, but IMHO, MKL mngt doing a good job. I'll hold my shares. I try to listen to the quarterly conference calls, hope to listen to tomorrows. https://finance.yahoo.com/news/markel-reports-2022-first-quarter-204200595.html
Markel Corporation (NYSE: MKL) today reported its financial results for the first quarter of 2022. The Company also announced today it has filed its Form 10-Q for the quarter ended March 31, 2022 with the Securities and Exchange Commission.
Markel Corporation (NYSE: MKL) today reported its financial results for the first quarter of 2022. The Company also announced today it has filed its Form 10-Q for the quarter ended March 31, 2022 with the Securities and Exchange Commission.
finance.yahoo.com
S
I m looking to start a position, what would the best entry position??
j
up another $21 after hours. up roughly 100 bucks in the last few trading days.
O
Markel was trading at about 1.55 - 1.60 in the 4 years before Covid and there are no reason why we shld not be seeing similar valuations going forward - especially in a market environment favorable for insurance and with higher interest rates. So we will be getting to USD 1.800 per share anyway in a not too distant future and after this continue to look at a longer term compounded return of 11-12% as we have seen in the past with all the swings and roundabouts caused by market moods. For a buyout to be really attractive believe valuations should vastly exceed historic valuation benchmarks (which Buffet won't do). So better just to be patient and let Markels compounding machine do the work for you of creating wealth over time.
Bullish
m
Their CEO resigned, which usually brings a stock down. The market is in a tailspin. You think getting a new CEO favors this stock?
A
MKL is a good company. I think a good entry is still lower tho.
R
https://go.trade-ideas.com/SHOv
A
https://discord.gg/uEGQ53tCUG
Bullish
R
Agree, watching MKL is like watching paint dry. But, the paint grows it net asset value (NAV) an average of 11% per year over the long term. Price eventually catches up to NAV growth. I tend to buy when MKL drops below 1.2 X NAV (or lower, as it did in March/April 2020). Otherwise, I just hold. I also bought some for each of my three sons, ages 22, 20 and 16. I told them to hold MKL until they are retired (unless MKL mngt starts changing how they do things). Assuming MKL mngt continues to stick to their knitting, long term holders should be amply rewarded for patience.
J
Hmmm - I am not sure, I get the idea of time in the market not timing the market. I understand what Markel is trying to do and it is one of my major shareholding and has been for years. But I have been selling it down for the past year or so. I just don't understand when the market is doing well and other stocks like BRK-B is doing well how can Markel be flat for approx 4 years?

Why - what are we missing here that the market is seeing?

It this a long term trend and if so why is it underperforming so much?

I know there was talk of the share underperformance in the annual shareholder letter but I do think I will be selling more MKL over the couple of months.
Neutral
T
Is it too late to invest in this company? Even if you can buy one share?
Bullish
E
If Berkshire was selling for 1.2x book, Buffett would be stepping up and buying his stock which he has. How about Merkel management? Are they interested in buying back share or maybe they don't have the confidence that Buffett has in his company.
D
By my rough calculations (roughly 6 billion of stock investment at beginning of 4th Q earning earning a rough guess estimate of 12% without dividends), it looks like MKL will have over $50/share of mark to market gain from its stock portfolio for the fourth Quarter of 2020. I would think this might be beneficial to the stock price. Any thoughts?
O
Markel is a bargain at a price/book ratio below 1.3. Their insurance business puts up amazing results very consistently and they are growing well in a favorable hard insurance market. They also will have the dynamic of actually benefitting from rising interest rates due to the insurance float. This is a good place to be.
T
Well, I am taking this as a buying opportunity to add to one of my core portfolio positions. Solid company...tough quarter. In 10 years, a purchase today will look very wise. Good luck to all!
R
I expect MKL will report a very solid Q1 2021. I expect insurance pricing has improved, equities have obviously improved pricing, bonds have improved pricing and the economy is opening up in a major way, which will help Markel Ventures. If not for inflation, it would almost be a goldilocks economy. We'll know soon. I'll just hold.