It is a Sunday morning in State College, PA. I spent time this morning thinking about reading and research I have done over the past weeks about the business of credit ratings. I will share some thoughts. Background The US market for credit rating agencies, also known in SEC parlance as NRSRO, includes nine competing …
One person, on doing well by others, immediately accounts the expected favor in return. Another is not so quick, but still considers the person a debtor and knows the favor. A third kind of person acts as if not conscious of the deed, rather like a vine producing a cluster of grapes without making further …
I have been thinking about my experiences in the insurance business. As I have written about in this blog, I really enjoy the insurance business. I find it helpful to periodically review the financials of industry firms. Some examples of reviews that led to me posting on this blog: my review of GoodRx, my review …
President Woodrow Wilson established the National Park Service in 1916 to consolidate management of America’s federal parklands under one agency. The National Park Service today manages 84 million acres across all U.S. states and territories, and has served as a model for countries around the world. https://www.history.com/topics/us-government/national-park-service In 2015, President Obama announced an initiative to …
25 years ago. I graduated from Freedom High School in Bethlehem, Pennsylvania. My impressions of 1996 include memories of brightly lit, nighttime basketball games at the township municipal courts; Memories of driving around with friends, listening to mix-tapes, and arguing over the appropriate place The Roots deserved in the modern zeitgeist; I remember really bad …
“In life, as in chess, forethought wins.” Charles Buxton I have enjoyed the game of chess since learning the rules from my father as a young boy. I remember my dad playing the game with me and describing the importance of “looking ahead to subsequent moves.” He would take an eternity considering his moves and …
The Loughran family lived next door to my grandparents in Paramus, NJ when I was a child. I have memories of sneaking, as a young boy, across the grass over to Mrs. Loughran’s backdoor to pick a few candies from a dish in her living room. Mrs. Loughran apparently shared that, when she asked me …
My career became my hobby at a (relatively) young age. I found my way into insurance as a licensed salesperson for Northwestern Mutual when I was a junior at Penn State University. Like most people, I did not begin my career with an objective of finding a pathway into the industry. In retrospect, though, I …
As the end of 2020 approached, Becca and I discussed whether to send an annual holiday card. For reasons writ large, we decided to pass. In the interim, we received many cards and updates from friends, some of whom took the unique opportunity to poke fun at the circumstances of the most recent year. Dox, …
I had an inquiry from a friend earlier this week about my impressions of eHealth, Inc ($EHTH) as a possible investment. I was aware of the existence of this broker, but never looked closely at the business. So, I offered to take a look. I have been interested in the continued investments being made into …