In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
It might not be long before we see major revenue and share-price drops throughout the auto insurance sector. Expect Allstate and Progressive’s share prices to take a major nosedive in the near future if these trends continue.
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Nothing to disparage Allstate here—it is still a good company—but the cash figures that Alphabet (NASDAQ: GOOGL) reported indicate it might be time to rethink some of our value investing theories. Tech companies, including Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN) and Facebook (NASDAQ: FB), now seem to be outperforming insurers like Allstate when it comes to some of the classic value criteria.
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