"More people should copy us [Berkshire Hathaway]. It's not difficult, but it looks difficult because it's unconventional -- it isn't the way things are normally done." -- Charlie Munger, 2000 Wesco Financial annual meeting Alleghany Corporation is a holding company ...

Markel CATCo is a leading insurance linked securities investment fund manager and reinsurance manager based in Bermuda.  Markel completed the acquisition of CATCo Investment Management and CATCo Reinsurance Ltd. in December 2015 for total consideration of $205.7 million paid in ...

TransDigm Group is a leading designer and producer of engineered components that are used in nearly all commercial and military aircraft. The company was founded in 1993 by Nicholas Howley, who currently serves as Chairman and CEO, and Douglas Peacock ...

C. H. Robinson Worldwide is one of the largest global third party logistics companies specializing in offering customers integrated systems and personnel skilled in the efficient movement of goods.  C.H. Robinson operates a capital light business model by purchasing cargo ...

MRC Global is the largest distributor of pipes, valves, fittings, and related products and services to the energy industry.  The company was founded in 1921 as McJunkin Supply Company and grew organically and through acquisitions over the years.  In January ...

W R. Berkley Corporation is an insurance holding company operating in a variety of niche markets requiring specialized knowledge regarding a particular territory or product line.  The company was founded in 1967 by William R. Berkley who currently serves as ...

RLI is a specialty insurer offering a variety of property and casualty insurance coverages and surety bonds in a number of niche markets.  The company was founded in 1965 by Gerald D. Stephens who observed a need for contact lens ...

Expeditors International is a leading provider of logistics services offering its customers an international network of integrated systems and personnel specializing in efficient and cost effective movement of goods.  The company is a non-asset based organization that purchases cargo space ...

The Progressive Corporation has offered insurance products to consumers since 1937 and is currently estimated to be the fourth largest private passenger automobile insurer in the United States.  Progressive trails State Farm, GEICO, and Allstate and has overall market share ...

"In the short run, the market is a voting machine but in the long run, it is a weighing machine." -- Benjamin Graham Benjamin Graham's famous quote on how to think about markets is so overused that it has almost ...

With the 13-F filing season underway, investors are again focusing on the equity portfolios of institutional investors who are required to make quarterly disclosures to the public.  Analysis of 13-F reports should be taken with more than a grain of ...

Markel Corporation released fourth quarter and full year results for 2015 earlier this week.  Although the annual report will not be released until later this month, there are enough details in the press release to form some initial impressions.  We ...

Markel Corporation released second quarter 2015 results yesterday and held a conference call this morning. This article provides a brief overview of the results ...

Markel Corporation is a financial holding company engaged in the specialty insurance and reinsurance markets as well as in a growing number of industrial and service businesses that operate outside the insurance marketplace. Markel seeks to actively invest its shareholder ...

The Coca Cola Company is in the midst of a major controversy prompted by shareholder objections to the company's equity compensation plan which is outlined in the company's 2014 proxy statement. Read this article for our view of the controversy ...

Daily Journal Corporation has been building a securities portfolio over the past several years but the specific securities have been undisclosed until now. A recent 13-F filing with the SEC reveals the holdings which were selected by Daily Journal Chairman ...

This article provides a brief update to The Rational Walk's 2011 research report on Platinum Underwriters. More than two years have passed since the report was published in October 2011 which is enough time to evaluate the validity of the ...

Loews Corporation is a diversified holding company with the majority of its intrinsic value attributable to majority stakes in three publicly traded subsidiaries: CNA Financial, Diamond Offshore, and Boardwalk Pipeline. Based on market quotations as of May 10, 2013, the ...

Over the past several months, Contango Oil & Gas Company shareholders have received a steady stream of bad news. Read this article for an update on our investment thesis ...

This article presents an update to our in-depth profile of Contango published in September. The company's stock price has remained under significant pressure due to a number of company specific factors that we discuss in this update ...