Correction of the euphoric parabolic spike up into the $78 area...

Correction of the euphoric parabolic spike up into the $78 area two to three weeks ago appears partially complete. There may be a mini bounce early this coming week, but I still see the first support area as closer to $61. Correction from overbought in world equity markets may still experience a further test down yet, from Monday, October, 24th, which may influence MBL's price.

However I do not regard even this price as keen buying. Yield at $61 would be less than a miserable 3%, leaving you heavily dependant on inflammatory expectations of capital gain. Some of the recent projections I have heard appear excessive....

Whilst some of my lunching friends consider MBL's investment activities more discriminating, and of better quality than some of BNB Babcock's, I would be inclined to wait for the next randomn accident and dip in world equity markets, even Q2 next year, to get the price closer to a deeper support level nearer $50 for more Buffet like value.