This paper profiles what I believe are core value investing general principles. In my work as a corporate financial and strategic advisor, I have observed a need for such an exposition because core value investing theory is not well understood by many corporate executives. Two anecdotal examples...

“Rationality” is a term that comes up often during investment conversations, and yet it has not been definitively defined. For example, economists and investors each use and define the term rationality differently. The objective of this note is to profile three general definitions of the...

Purpose of this paper: This paper profiles how ample cash holdings can serve as a competitive advantage by first mitigating the risk of becoming a forced seller during periods of distress, and then positioning a firm to take strategic advantage of forced selling and other forms of...

This paper is a compilation of two articles that were written on the subject of catastrophe bond valuation (Part 1 of the paper) and tail risk hedging (Part 2 of the paper) from a value investing perspective. The paper presents a practical introduction to these topics that was written to the...

Insurance companies can leverage the regulatory requirement of a "Risk Management Own Risk and Solvency Assessment" (RMORSA) to improve risk-to-reward decision-making in general, and business planning in particular. This paper profiles several RMORSA-based improvements and explains how those...

Insurance claims can take years to resolve, which makes insurance performance measurement - and incentive compensation based on such measurement - challenging. The insurance industry utilizes a method of analysis called accident year analysis to manage the temporal challenge inherent in...

On February 14, 2013 it was announced that Heinz was being taken private by Berkshire Hathaway and their Brazilian private equity partner, 3G Capital, at a price approximately 20% higher than Heinz's February 13th stock price, which was eight times Heinz's book value. These are not the kind of...