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Deposit Banks & Insurance Underwriters
Wolf Buffett
Durable deposit relationships and disciplined insurance underwriting can provide recurring funding advantages that competitors cannot easily replicate. Bank of America at 9.8x forward earnings, Citigroup at 9.4x and Wells Fargo at 10.4x offer a valuation-led reason to buy now rather than chase speculative growth. Berkshire anchors the insurance businesses with diversified earnings and patient capital allocation; credit losses, reserve adequacy and underwriting discipline remain essential tests of the margin of safety.
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Durable deposit relationships and disciplined insurance underwriting can provide recurring funding advantages that competitors cannot easily replicate. Bank of America at 9.8x forward earnings, Citigroup at 9.4x and Wells Fargo at 10.4x offer a valuation-led reason to buy now rather than chase speculative growth. Berkshire anchors the insurance businesses with diversified earnings and patient capital allocation; credit losses, reserve adequacy and underwriting discipline remain essential tests of the margin of safety. Launch basket (equal weight): BAC, WFC, JPM, C, BRK-B, CB, PGR, TRV Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.
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