Subject: Re: Cost-plus model: COST, IBKR, KMX - any others?
Speaking of GEICO & Progressive….todays article by Rational Walk compares the two,

https://newsletter.rationalwal...


Including this interesting comment on the AR,

“I am less concerned about the rail and utility businesses compared to many Berkshire shareholders. However, I have concerns about GEICO’s performance that have not been widely discussed in the financial media.”

ciao