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In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

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Do Auto Insurance Companies Make Money?

Buffett’s classic theory is that insurance companies can generate a lot of float from the premiums. The idea is that large numbers of people send in premiums every month, so as long as the amount of payments taken in exceeds the claims paid out, the insurer has a big pile of extra cash it can tap.

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