It's a huge company. It can only grow at a certain rate.
[It is] the best low-cost credit card producer in the country, ... You back up that credit card business, you're buying the core bank at eight to nine times earnings. There's no need to chase the big boys when you have Bank One, a $60 billion company sitting there really cheaply.
We think the value universe has opened up some tremendous opportunities.
You know what is going to happen. There won't be a shortage, we'll have our clinics, then we'll have a shortage. Then we'll start rationing the vaccine, and we'll end up wasting some of it at the end of the season.
We've been saying from the beginning that we wanted to get the number of positions down. It waters down the portfolio too much.
They have a very fast growing variable annuity business that has not even been recognized in the market place, yet, ... It's just perceived as a stodgy property and casualty company.
I see their rate of growth declining over time, ... I don't see how you can keep growing earnings 10 to 15 percent with a company this size.
It's a very clean balance sheet.
For individual investors, this is probably the most optimal time to buy value stocks because growth stocks are so over-the-top expensive.
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