Originally Posted by
percy
Picture a chart of a Turkey being fattened up for Christmas.
It starts in the bottom left hand corner on 1st January.Each day you feed the turkey, and it puts on weight,and each day you mark on your chart,and the chart starts heading for the top right hand corner.Looks fantastic.But then on the 13th December you chop off the turkeys head.Chart drops to Zero.Insurance companies are the same.Fat profits until a huge underwriting disasterous loss cuts off their head.!
Read the history of Lloyds.