Snoopy Braves the Turbulent Skies

This leading insurer has lots going for it -- like its undervalued stock. LOOSE LIPS CAN BUFFET BLIMPS. That was clear last week when some remarks by a senator raised fears about the health of big insurers -- including MetLife , owner of the famed dirigible. Like its mascot, Snoopy the beagle, MetLife is charting a safe course. Senate Majority Leader Harry Reid (D.-Nev.), in pressing for passage of the financial bailout bill, claimed that a well-known insurer was on the verge of bankruptcy. Insurance stocks plunged, with MetLife (ticker: MET) falling some 15%. The company said Reid's remarks didn't apply to it, and the senator's spokesman said he misspoke. It was only the latest setback for MetLife's stock. Earlier in the week, Fitch Ratings had downgraded its outlook on the sector to Negative, saying insurers' capital levels... [read full story]