At farmland auctions: insurance companies.
From MarketWatch: Hartford Financial loses over half its market value[Link]
The company reported a big third-quarter loss late Wednesday and said that it couldn't gauge the amount of extra capital it has because of market volatility.
Harford is off 51%
Assurant Inc is off 25%
Prudential Financial is off 22%
CIGNA Corp is off 22%
Lessee, scratch developers and 1031 exchangers and insurance companies...
Looks like it's between you and me, Bob.
1 comment:
John'
I am glad to see that some of the outside investors may be out of the bidding. But I think some of your most competitive bidders at the next land auction may be your next door neighbor. Sorry, but that is life!!! Always buy the peice next to you! And there is usually a guy on the other side who wants it about as much as you do. Makes for an interesting auction!!!
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