It's an ill wind . . . .
Hard money is what usually appears in prospect.
Securities analysis, which was on its way to becoming a lost art in the last half of the 1990s, is now coming back into its own. Bear markets aren't all bad. Our featured luncheon speaker is responsible for pulling Geico back from the brink of insolvency and turning it into the most profitable property and casualty company of his era. To quantify that achievement, the price paid by Warren Buffett for the Geico shares he didn't already own was 155 times the price prevailing when Byrne took charge of the company in 1976. Not stopping there, the savior of Geico went on to work his value-enhancing magic at Fireman's Fund.