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No. of Recommendations: 2
compare and contrast

on Berkshire
I'll freely admit I don't understand most aspects of the business
I follow no other reinsurers

But I own it and don't worry about it

- the valuation is reasonable. AT least, he told is he though it was (1.2x buy; 2.0x sell)
- growth rates are ok - tough for me to judge
- I am confident in acquisitions cause WEB is doing it

That's all I want. I could consider this more than core if I already like it for any number of other reasons

on Enghouse in 2010

- the valuation was cheap. At 17% FCF yield
- growth rates supplemented by acquisition (were strong)
- confident in his acquisitions (he'd done it a while; he was clearly price sensitive, etc)
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