MKL - Markel: Listening To Warren Buffett And Being Cautious
2024-02-16 13:31:40 ET
Summary
- Markel reported full year results for fiscal 2023 and while investing and ventures performed solid, the insurance business disappointed.
- Berkshire Hathaway sold its position in Markel in Q4/23 and this might underline Buffett being cautious about the stock market.
- The stock appears still undervalued but considering potential risks on the horizon, I would be cautious as well.
In July 2023, I wrote my first and only article about Markel Group Inc. ( MKL ) – a Buffett-like business focusing on insurance and investing. In the article I called Markel an undervalued financial holding company and in the meantime the stock increased 8%. However, the S&P 500 ( SPY ) increased about 12.5% in the same timeframe raising the question how undervalued Markel Group actually is.
About two weeks ago, Markel Group also reported full-year results for fiscal 2023 and at least to some degree, the results were a disappointment (especially the insurance business). And two days ago, Berkshire Hathaway ( BRK.A ) ( BRK.B ) reported its 13-F filing and sold its complete remaining position raising the question: What does Buffett know? And should we follow his footsteps and sell Markel Group as well?...
Markel: Listening To Warren Buffett And Being Cautious