Sometimes I stumble upon a stock which basically does nothing but go up. It’s almost like science fiction, and often the stock is of a company so mundane, so boring, that no one would believe it. I present unto you, Progressive Insurance. (PGR)
Zoom in on the past 15 years. I mean, Good God Almighty, the thing never met a downtick in its life! Incredible!!!
You’d think it must be a bargain, going up like this all the time, right? Nope. It has a triple digit P/E. And remember, this isn’t a biotech firm with a cure for every form of cancer. They sell freakin’ INSURANCE policies.
If you ask most people of an example of a hot, successful stock, that might say something like Amazon. Oh yeah? Since September 2018, Amazon has thrown off less of a gain than a checking account. Not even one percentage point over a period of five YEARS. Progressive? About 152%.
I don’t know what secret sauce they’ve got cooking, but they’re doing something right. Just like some people are famous for being famous, Progressive seems to go up all the time because it goes up all the time.
