Ericsson wrote:mlennyma wrote: The nse has become a place to lose your money think twice before choosing a stock.the much hyped k-re is approaching below 10
Huyu amechukua early retirement
1) “Whether we’re talking about socks or stocks, I like buying quality merchandise when it is marked down” – Warren Buffett 2008 Annual Shareholder Letter.
*For KenyaRe, I do caution that it is GoK-controlled so be very careful. Even though it is a "core" holding and I picked up some recently at 11-ish, it is NOT for the faint of heart. I got heavily into KenyaRe during the Kibaki era when there seemed a wind of change was blowing through the land 2) The Reinsurance Business is simple at its core but
based on very, very complex calculations and assumptions. Ironically, for a business that is based on risk, taking inordinate risks is very risky.
KenyaRe is NOT for everyone. The
"profits" will NOT increase in a linear fashion. Expect AWFUL losses in some years. .
I do NOT understand it. I try to understand it. I hope I understand enough of it to profit from it.
As a long-term shareholder, SUSTAINABLE PERFORMANCE over the long-term is more important to me than gyrations in the price.
Do NOT buy KenyaRe if you have a "time-based goal" in mind e.g. cashing out in 5 years. There is no set timeline/period. Of course, I do want to cash out in the future but I do not have a timeline.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett