It is no accident that the rapid rise in living standards over the past century has coincided with tremendous technological progress throughout the economy. At a fundamental level, rising living standards require the economy to generate an ever-increasing supply of
The Progressive Corporation has offered insurance products to consumers since 1937 and is currently estimated to be the fourth largest private passenger automobile insurer in the United States. Progressive trails State Farm, GEICO, and Allstate and has overall market share
In this article, we will take a look at comments made in Warren Buffett’s 2010 annual letter regarding GEICO’s valuation and examine potential implications for the intrinsic value of Progressive, GEICO’s most fierce competitor. Read this article for more details.