overly conservative but i woudl say tis conservative. Katrinas happen,
but it wouldnt be inappropriate to believe we would make mone on
underwriting.
CM _ asked WB would you want any other insuarance company?
WB - no absolutely not, GEICO had an underwriting profit of 8 pts
probably best quarter. ajit started a business from scratch, its more
infrequent, if someone wants a huge amount of insurance, tad at gen re
has done a tremendous business. i didn't have anything to do with it
so I can brag about them
CM - invested with an Omaha boy and you got some of the best insurance
companies in the world.
WB - we paid $7mm for national indemnity and now it has more net worth
than any insurance in the world,
CM - casualty is a tough business there are temptations to be stupid
in it, but if you got to be in it we have the bets ones
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