This is not a new post, but nobody has brought up the “I” in FIRE yet, and Mr. Middleton has been ahead of the curve on the banks & sovereign debt, so . . .
The insurance industry is next up for BoomBustBlog subscriber scrutiny. Quite frankly, it’s amazing this industry has gone this long without getting the bank treatment, ex. Shorted into oblivion. Just imagine, and industry that is:
1. extremely cyclical,
2. prone to booms and busts (the fodder of BoomBustBlog),
3. and relies as much, if not more, on investment income borne from bonds (primarily sovereign debt [whaaaat?] and bank/financial institution debt [whoa!!!??] for earnings as much as their core business of underwriting risk.
If this is not a group of shorts made in investor heaven, I truly don’t know what is!
. . .