Saturday, December 15, 2007
What I don't want for Christmas
Old Republic International (stock: ORI) has got to be poster child for run away now. How many scary things can one company have? Description from Yahoo Finance: Old Republic International Corporation, through its subsidiaries, engages in insurance underwriting business primarily in the United States. It operates through three segments: General Insurance, Mortgage Guaranty, and Title Insurance. The General Insurance segment provides related risk management services that encompass various property and liability insurance coverages. It offers commercial automobile coverage protection, workers' compensation, and general liability for businesses in the trucking and general aviation, construction, forest products, and energy industries; and public entities, such as municipalities. This segment also offers directors and officer's liability, and errors and omission liability, as well as travel insurance. In addition, it provides coverage for hull and liability exposures, as well as additional areas, such as airport facilities and flying schools; and fidelity, surety, and credit exposures. The Mortgage Guaranty segment insures first mortgage loans, primarily on residential properties to mortgage bankers, brokers, commercial banks, and savings institutions. The Title Insurance segment provides title insurance, escrow closing, and construction disbursement services, as well as real estate information products and services pertaining to real estate transfers and loan transactions. Old Republic International offers its products primarily through independent insurance agents and brokers. In addition, the company offers small life and health business insurance through financial intermediaries, such as finance companies, automobile dealers, travel agents, and marketing channels. It also conducts its small life and health business, as well as offers travel insurance in Canada. The company was founded in 1887 and is based in Chicago, Illinois.Gosh, where to begin? Awww youse guyz is smart, you get it already. But wait, there's more! Who has this company in their portfolio? % of Shares Held by Institutional & Mutual Fund Owners: 80%. Fine institutional investors like; AXA JP MORGAN CHASE & COMPANY MAC-PER-WOLF COMPANY Barclays Global Investors UK Holdings Ltd PZENA INVESTMENT MANAGEMENT, LLC RENAISSANCE TECHNOLOGIES CORP VANGUARD GROUP, INC. (THE) CAPITAL RESEARCH AND MANAGEMENT COMPANY FIRST MANHATTAN COMPANY FRANKLIN RESOURCES, INC. But wait there's more! Franklin, Janus and Fidelity have mutual fund positions too.
For our stock picking friends who somehow keep forgetting to hit the tip jar, take a look at the Jan 12.50s.
P.S. For those of you wondering why California still has a certain appeal: