insurance companies
Strategic Concepts & Mechanics
Primary Evidence
"Anyone who hopes to follow Buffett’s model must be willing to take an active role, ei¬ ther as a corporate insider or by pushing companies from outside to ex¬ ploit their assets more aggressively. It is also important to understand Buffett’s reliance, throughout his career, on outright purchases of compa¬ nies (especially insurance companies), as opposed to becoming a minority sharehold"
"Traders on Koch’s floor considered the rest of the world to be a herd, and not a particularly smart herd at that. There was an overwhelming amount of activity in the markets, but seemingly very little insight. When Koch cautiously branched into a new market, the traders were often surprised at how easy it was to make money there with just a little bit of forethought. “We couldn’t believe how the incumbent counterparties couldn’t see the enormous profits that existed in those markets. Even though these were very established markets . . . dominated by the large banks, or large incumbent parties, like insurance companies, et cetera. But they just looked at it fundamentally very different,” one trader said."
"Traders on Koch’s floor considered the rest of the world to be a herd, and not a particularly smart herd at that. There was an overwhelming amount of activity in the markets, but seemingly very little insight. When Koch cautiously branched into a new market, the traders were often surprised at how easy it was to make money there with just a little bit of forethought. “We couldn’t believe how the incumbent counterparties couldn’t see the enormous profits that existed in those markets. Even though these were very established markets . . . dominated by the large banks, or large incumbent parties, like insurance companies, et cetera. But they just looked at it fundamentally very different,” one trader said."
"We raised money from everywhere—banks, insurance companies, publishers, Wall Street, anyone with capital—to fuel TCI’s growth, because I knew the advantage would go to the biggest company. Scale economics drove every decision."