One big hedge fund is shorting car-insurer Progressive (NYSE:PGR) on the basis that driverless cars are set to make car insurance obsolete and unprofitable. Is this really a reason to short this stock? In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analyst David Hanson is joined by Stock Advisor analyst Brendan Mathews discuss the impact of safer driving on premium and Progressive's business.
Problem: Your commute is long and boring. Solution: Subscribe to our daily podcast Where the Money Is! https://t.co/jAnlvNyUDV— MotleyFoolFinancials (@TMFFinancials) December 9, 2013
Brendan Mathews has no position in any stocks mentioned. David Hanson has no position in any stocks mentioned. The Motley Fool recommends Progressive. 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.