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Weitz Investment Management Comments on Brown & Brown

May 06, 2014 | About:
We also added a new position in insurance broker Brown & Brown (NYSE:BRO) when the stock fell below $29 in February. The company's business model generates high operating margins and strong free cash flow. We expect management to remain disciplined acquirers of culturally compatible companies. In the meantime, Brown & Brown would benefit from an increase in insurable exposure units in the middle-market economy. Said more simply, as "Main Street" recovers, Brown & Brown should do well.

From Wallace Weitz (Trades, Portfolio)'s first quarter 2014 report.

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