Spent a large chunk of the morning to read through the annual 2012 report by Münchener Rückversicherung. No big surprises in it. They had an excellent year with a profit of 3.2 billion €. That gives profit of almost 18 € per share from that they have decided to pay 7 € in dividend. Their P/B value starts to be very close to 1 now and due to the excellent profit... even though the shares are now up at 151 € the P/E value is still as low as 8.4. So my sell signal has still not been triggered and I will continue to keep the stocks. I also saw that Berkshire Hathaway has increased their quantity of shares from 10.2% to 11.2% during the last year.
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