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The company would have to be huge to pull it off. One event like what happened in Houston could easily wipe out a big chunk of any fund they could amass. That k
by emeraldd 9y ago
The company would have to be huge to pull it off. One event like what happened in Houston could easily wipe out a big chunk of any fund they could amass. That kind of diversity could also be a problem if there are shared waterways, think back to the Mississippi/Missouri flood from 1993. I'm seeing 15 billion as the damages there, which is a large percentage of the "cash" pile Apple is claimed to have.
https://en.m.wikipedia.org/wiki/Great_Flood_of_1993 https://en.m.wikipedia.org/wiki/Great_Flood_of_1993
Edit: fix an extraneous wording mistake.
- koolba 9y agoWhat does this have to do with Apple? Is that just a reference to them hoarding large amounts of cash or are they in the reinsurance business?
- yardie 9y agoI believe it's a reference to the fact that even large companies, Apple is $800b, don't have all that cash on hand. To convert $15b into cash takes time. Disaster victims can't exactly pay for hotels or buy foods with bonds or stock certificates.
- HillaryBriss 9y agobtw, Apple has far more than $15 billion in its cash pile. it's over $250 billion by some accounts https://www.cnbc.com/2017/05/02/apples-cash-hoard-swells-to-record-256-8-billion.html https://www.cnbc.com/2017/05/02/apples-cash-hoard-swells-to-...
- emeraldd 9y agoI was using them as an example of a large company that would be reasonably familiar to the audience here.