Introduction and summary
Everyone wants to find the next Berkshire Hathaway (BRK.A, BRK.B), at least a smaller version that has the possibility of returning above market returns.
White Mountains Insurance (WTM) is by many regarded as a "Mini-Berkshire", but is still rarely covered on Seeking Alpha. The stock is above 1,000 USD, few shares are traded, and the dividend is insignificant. Because of this, we can label the stock as "boring" (in a good sense).
The resemblance with Berkshire is in insurance and the management's opportunistic investments, long-term mindset, careful capital allocations,