Only 3 weeks left and 2014 is over!
This blog follows the stock of 2 companies:
Colfax Corporation (NYSE: CFX), the industrial manufacturing and fluid handling company and
Markel Corporation (NYSE: MKL), the speciality and niche insurer.
So how did they perform year to date?
Let’s start with the worst: Colfax performance is a whopping -24% ytd … ouch …
Now the better one: Markel’s performance is +20% ytd beating the S&P 500 which performed 13.6% ytd.
Does this change our long term view of these 2 companies: … NO!
The investment thesis of Colfax is still intact: It grows by successful acquisitions and integration of the acquired activities getting them up to their efficiency levels.
On the conference call Q3 2014 CEO Steve Simms hinted at a full acquisition pipeline, so expect more. Insiders do the same and are buying shares!
Markel on the contrary got finally the performance it deserves I would say.
This reflects the successful integration of Alterra and slightly improving general conditions of the insurance market.
Both shares are a buy at these prices. Don’t forget, we are in for the long term!