Seeking Alpha

Anthony Grossi  

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  • Aflac's Moat Explained [View article]
    I was trying to highlight why I think Aflac's underlying business is still strong and that the concerns over bonds and currencies are probably short term problems (short term compared to the life of the company, not necessarily the life of your particular investment horizon).

    Aflac's competitive position in Japan is so much stronger than their position in the US that you have to analyze them as separate businesses.
    Apr 25, 2013. 06:16 PM | Likes Like |Link to Comment
  • Aflac And Japan [View article]
    the most important thing to note here is that investors seem (I can't account for all of them) to be concerned about two things here

    1) Yen/USD
    2) the investment (bond) portfolio

    the first "problem" is completely outside the control of the company and will have little impact on the actual business being valued. As you very well noted in the article.

    the second problem, maybe they did over expose themselves to European denominated bonds, is still largely outside of their control but could have a much larger impact on the actual business.

    In either case the actual underlying performance of the business is not being called into question. Thus, I would have to think that this presents an opportunity to own a great business faced with a temporary setback.
    Feb 13, 2013. 12:25 PM | 1 Like Like |Link to Comment
  • Aflac's Fair Value PE Ratio Should Be Double, And So Should Its Price [View article]
    Great series
    Nov 9, 2011. 10:45 PM | 4 Likes Like |Link to Comment
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