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Stocks B / Berkshire Hathaway


Subject:  Progressive Sept/Q3 Results Date:  10/10/2012  10:55 AM
Author:  rationalwalk Number:  194805 of 236868

Looks like a decent quarter for Progressive.

Progressive is currently trading at over 2x book value. I doubt that a stand-alone GEICO would trade at a lower valuation. Not that I would pay 2x book for Progressive. But it is a company I've had on my watch list for a couple of years having missed a great opportunity to take a position during the depths of the financial crisis.
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