Tuesday, May 26, 2009
Insurance: Life
Morgan Stanley analyst Nigel Dally, who has followed life-insurance companies since 2000, says he’s never seen a year quite like 2008. The once steady-as-she-goes industry turned highly volatile in the face of a weakening economy and plummeting stock market...
In this topsy-turvy market, analysts who remained skeptical about the industry and avoided the temptation of jumping in for beaten-down stocks generally fared well. Mr. Dally, 39 years old, upgraded only one stock to buy last year: He switched his rating on MetLife Inc. from hold in October. Shares returned 18% through the end of the year.
He held his ground with a sell for the year on Torchmark Corp., a Texas insurer that suffered losses on investments in the debt of troubled financial companies, such as Lehman Brothers Holdings Inc. American International Group Inc. and Fannie Mae. The return on the stock, including dividends, was minus 25%...
WSJ: Insurance: Life
In this topsy-turvy market, analysts who remained skeptical about the industry and avoided the temptation of jumping in for beaten-down stocks generally fared well. Mr. Dally, 39 years old, upgraded only one stock to buy last year: He switched his rating on MetLife Inc. from hold in October. Shares returned 18% through the end of the year.
He held his ground with a sell for the year on Torchmark Corp., a Texas insurer that suffered losses on investments in the debt of troubled financial companies, such as Lehman Brothers Holdings Inc. American International Group Inc. and Fannie Mae. The return on the stock, including dividends, was minus 25%...
WSJ: Insurance: Life
Permalink posted by markw @ 4:46 AM 
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