GLRE-Mini Berkshire it is not,but a reasonable investment is Note the unfair treatment accorded to stockholders in the case of Greenlight capital: GLRE's float for investment is managed by Einhorn's independent fund, which charge 20% of profit, 1% of asset. Thus, by holding only 30% in GLRE, Einhorn achieve control over the float that is directed to his own 100% benefit, while losing less than that since he holds only 30% of GLRE's stock. This structure is the best of both world, combining investment funds stability tht characterized insurance float, and getting huge profit that characterized 20% profit sharing investment fund world. Therefore, unlike Berkshire, GLRE's stockholder are at a distinct disadvantage by having to share huge profit with Einhorn's management arm. Besides, Einhorn investing prowess is unlikely to match Buffett's over time. Mini Berkshire it is not, but a reasonable investment it definitely is. โดย mo พุธ ส.ค. 25, 2010 9:47 am