And that then is why we tend to think that insurance companies, Berkshire Hathaway included, should make underwriting losses, because they make it up on the investment of that insurance float.
from Forbes Real Time http://www.forbes.com/sites/timworstall/2017/08/05/buffetts-berkshire-hathaway-should-make-underwriting-loss-because-of-that-107-billion-float/
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