Only 3 weeks left and 2014 is over!

December 9th, 2014

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!

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