XL Capital Ltd.
Golfer Phil Mickelson got in trouble when he off-handily commented that he might have to make some life changes to avoid paying what he claimed would be 62% of his earnings to the tax man. You can't blame him, but he isn't the only entity looking to save on taxes. Companies have been doing it for years. It's a good business decision no matter what the public thinks.
John Nichols, who became CEO of Axis Capital Holdings Limited (NYSE: AXS)’s reinsurance division earlier this year, purchased 30,000 shares of the company on August 30th at an average price of $33.60. Axis is an insurer providing products such as property insurance, professional liability insurance, and reinsurance. These 30,000 shares were a substantial increase in Nichols’s holdings: he had previously owned 50,000 shares more »
There are generally two schools of thought when it comes to investing; the trend is your friend and mean reversion. Some investors only want to buy stocks at a 52-week low and others when the stock is breaking to a new high. With the beginning of the year full of stock picks and forecasts, I propose a four stock portfolio comprised of the top two stocks in the S&P 500 over the previous calendar year and the two worst stocks in the S&P 500. I back tested for just the past three years, but the results are pretty remarkable; 100% success in beating the Index and an average return of 32.8% versus 14.5% for the S&P 500.