This is going to be a very short post. As mentioned in my recent opinion about White Mountains (NYSE: WTM), I thought White Mountains is a buy at $566/share. Today the stock traded at $566.01/share. So I added one share to the Naked Portfolio. I believe the recent price drop is due to the recent appointment of Steve Fass as President and CEO to succeed the retiring Ray Barette. Also, recent news about another possible hurricance Wilma (hopefully we don't see the whole Flintstone family of hurricanes this year) to hit Florida may have played a part in shattering investors' confidence in the insurance industry. The continuous rain in the northeast that led to flooding and a possible dam burst in Massachusets did not help either. But all these do not change the fact that White Mountains was a well-run company and still is. Steven Fass was the CEO of Folksamerica Holding, a susidiary of White Mountains.

Currently, the Naked Portfolio is heavily tipped towards the insurance industry. Actually, tipped is not even the right word. The Naked Portfolio is entirely dependent on the insurance industry. Current holdings include Berkshire Hathaway (NYSE: BRKb), Markel Corp (NYSE: MKL) and White Mountains.

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