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earning yields
Last Thursday’s Brexit vote led to a historically nightmarish day in the financial markets: Indexes across the globe were down between 3-10%. The British pound dropped from a high of $1.50 to $1.32, before finally recovering to $1.37, down an enormous 9% for the currency. European banks stocks were down between 15 and 20%. S....
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These last few weeks have been marred by extremely significant volatility as we prepare for the Brexit vote on June 23rd. While most of the impact of any Brexit wouldn’t likely be felt for several years at the minimum, the uncertainty that more countries would leave the Eurozone could mean more volatility for the market...
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While the market has been performing adequately over the last couple of months we are seeing really impressive performance out of our more contrarian investments such as Assured Guaranty (AGO).  Even after a 54% gain it still trades at only about 70% of book value, and its adjusted book value is actually around $50 per...
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