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Y - I Was Wrong: Alleghany Corporation Is Indeed A Buy
Alleghany Corporation
A couple of months ago, I wrote an article about Alleghany Corp. (NYSE:Y), a small Berkshire Hathaway clone (BRK.A, BRK.B), where I tried to compare its long-term prospects with those of another famous mini-Berkshire: Markel Corp. (NYSE:MKL).
I must admit: my final considerations were quite trenchant. I raised some doubts on the competence of Alleghany’s management and concluded that the best way for the company’s stockholders to get more value was to seek a merger with its competitor, remarkably managed by Thom Gayner and Richard Whitt.