The following video is part of our "Motley Fool Conversations" series, in which senior analyst Matt Argersinger and analyst Paul Chi discuss topics across the investing world.

In today's edition, Matt and Paul discuss Alleghany, an undervalued insurance company with a tremendous long-term investment track record. Over the last 10 years, the total annual return of Alleghany's investment portfolio is more than double that of the S&P 500. These days, Alleghany is finding value in the energy sector with investments in some of the biggest names in the oil and gas industry. Get the names and the scoop on Alleghany in today's video.

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Matthew Argersinger owns shares of Alleghany and has the following options: long January 2014 $65 calls on Devon Energy and short January 2014 $65 puts on Devon Energy. Paul Chi owns shares of Devon Energy and Alleghany. The Motley Fool owns shares of Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.