This Stock Is a Money-Making Machine in an Industry Warren Buffett Loves
When investors think of a money-making machine, insurance isn't usually the first business that comes to mind. However, Warren Buffett has often called insurance the industry that's most important to the company he's run for more than five decades, Berkshire Hathaway. In fact, insurance has been a cornerstone of Berkshire's growth since its 1967 acquisition of National Indemnity.
One insurer that has continually crushed it is Progressive (NYSE: PGR). Progressive is a well-run company with healthy profit margins. Not only that, but since 2015, Progressive has outperformed the broader market, providing investors with a total return of 379% compared to the S&P 500's total return of 128%. Even after that run of success, its stock trades for a bargain price.
Despite all that, Buffett and Berkshire don't own Progressive. Should you?
Source Fool.com