Thanks Big Toe and ghchua for the quick response. You have given me much food for further thought.
I have to clarify the "simple" in my earlier statement "Would GE be a simple low risk "value" bet for rising interest rates" - It is obviously not simple. It may be an easy bet but it is not simple.
Insurance firms are anything but simple to analyze. Most of its (actuarial) decisions are not obvious to the average joe and has a long tail. But on the other hand, if things are obvious, then the Market is much more efficient...
I have to clarify the "simple" in my earlier statement "Would GE be a simple low risk "value" bet for rising interest rates" - It is obviously not simple. It may be an easy bet but it is not simple.
Insurance firms are anything but simple to analyze. Most of its (actuarial) decisions are not obvious to the average joe and has a long tail. But on the other hand, if things are obvious, then the Market is much more efficient...