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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: Shane M who wrote (1691)7/19/1999 10:48:00 PM
From: Michael Burry  Read Replies (2) | Respond to of 4660
Started a position in Prepaid Legal Services today. Like Execujet, a whole new concept/industry, and they're the leader. It showed up on my "Young Buffett" screen a few weeks ago. It moved to the top of my buy soon list after finding little not to like in the biz plan or financials, and especially after noting heavy insider buying. I had been waiting for it to fall a little bit and provide a buying opportunity. They announced earnings today, and the stock moved up. Figured that I wouldn't see the 20's again, so I got in just under 30. The risk is, how good are they at pricing this stuff? I mean, the tables can't be as established as the other arms of the insurance industry. But then, being the leader, they also have flexibility because of this lack of norms. Kinda like the supercat segment.