It's complicated, but Munger and Buffett have always been in the insurance industry, so watch what they do! Buy when it's time to buy! There's no 💯 win rate!!
$Unitedhealth(UNH.US) Today I read 'The Tao of Munger', which contains many descriptions of the insurance business and real-world scenarios. It's similar to the interview I watched with the CEO of $Oscar Health(OSCR.US). The insurance business is too complex and is essentially a gamble on cycles and probabilities, with risks that are hard to predict.
I often compare with the market, not frequently trading in and out, but I also seize opportunities and don't reject other market opportunities.
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