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I like to see a little higher ROA%, but so many of these insurers, especialy reinsurers are so cheap and beaten up, that I have to think that the industry is just one acquisition away from serious relative performance.
I became a first time holder of CLF today. We’re going to fix some bridges. Rate cut has to help autos. Shipping is booming. Commercial real estate that uses steel is still okay. CLF is no RIO, but I like it’s positioning here.