The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 4 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Wagner: Florida wind reinsurance yields over 50% for 1-in-10 risk
“The way I characterize it is if you underwrite a risk that has a one in 10 chance of happening, historically that would get priced that you get paid 15 or 20% to take that risk. That number's over 50%. So the pricing around a unit of risk in Florida wind now i…”
Wagner: Credit dealer capital is down over 90% in 15 years
“Because the dealer community and capital's down by 90 plus percent over the last 15 years or so, the price movements that you see in credit tend to be very severe.”
Wagner: Appaloosa runs higher concentration and volatility than Baupost
“Appaloosa has more volatility than what Baupost does. So Baupost has a very robust hedging program, just a much different culture of the organization, more diversified in terms of what they owned. And so Dave tended to be a lot more concentrated, a lot more ag…”
Wagner: Hitachi led Japanese governance reforms by divesting subsidiaries
“IT services, for example, Hitachi was really one of the leading companies in this area. So they started making a lot of these changes and really started to Sell off listed subsidiaries, sell off excess assets, reinvest in growth businesses.”