Thursday, April 16, 2009

The Plymouth Rock Company

The Plymouth Rock Company is a private insurer located in Massachusetts. The company is run by James M. Stone, and every year he puts out a shareholder letter with commentary on current events in the market. It's usually a good read, and the 2008 letter was just released.

The full letter is here. Look on page 8 and 9 for his commentary. Here is an excerpt that I found interesting:

"The nightmare scenario from here is one in which, at this time in 2010, people look back and say: the Banks and Brokers were bailed out, ditto the auto manufacturers; we had a stimulus package and a middle class tax cut; we ran huge Keynesian deficits; and interest rates were to zero - but we are still in trouble. Confidence in that scenario could plummet well below where it is today."

The annual letters going back to 1984 are at this page.

Since Plymouth Rock is private, the only way to own this company is through buying shares of Central Securities (CET), a closed end fund that has 31% of its net assets in this company.

This article was written by Stock Market Prognosticator. If you enjoyed this article, please vote for it by clicking the Buzz Up! button below.


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