Sorry, but not a believer in this rally, especially as it concerns entities which must own large volumes of fixed-income securities as assets. Seems quite impossible for expert fast-moving investment managers to navigate these crazy volatile waters, but insurance companies? Sorry, they are perhaps the most at risk due to interest rate fluctuations created by our haphazard government. So while actuarties can expertly manage an insurance company's liabilities, it is the too-large risk from the assets insurance companies must own which threatens them in such volatility. So while PRU mgt might be feeling confident right now, this can all change on a dime in weeks and months. Nothing against PRU, but insurance is just too risky a business right now. too many things to go wrong, especially long tbills (for instance), for which all long term fixed-income securities depend. One would hope PRU owns a bunch of stocks given the scary nature of fixed income securities right now!
$39.01 (06/01/09)
