Seffoff or not, we continue to profit....

Now the fun part: do you know why Buffett loves insurance companies?

Because banking is a great business. Warren Buffett's career shows this: he went from running a hedge fund to buying small regional banks to buying insurance companies.

How come?

Hedge Funds: People give you money, you invest it,
and you keep 20% of the profits until they want their
money back.

Banks: People give you money, you invest it, and you keep
100% (!) of the profits, although eventually, everyone
wants their money back.

Insurance companies: People give you money, you invest
it, and you keep 100% of the profits, and NOBODY
wants their money back ever because it means they got

sick, or had an accident, or died, or whatever.