NEW YORK (Real Money) -- As part of my weekend reading and web surfing, I came across an article sent from the website Value Walk about Shelby Davis, the father of the founder of the Davis family of Mutual Funds. Mr. Davis became a very wealthy man using the principles of Ben Graham and focusing on insurance companies. He looked for companies that traded below book value and low multiples of earnings. He wanted insurance companies that could also grow those assets and earnings, so he had a double compounding effect over time and that made him an enormous amount of money in the 1950s and 1960s.

Lots of value investors have made piles of money from insurance stocks that are growing nicely but are viewed as stodgy old boring companies by most investors. After all, when you can buy Google (GOOGL) - Get Report, Tesla (TSLA) - Get Report and Netflix (NFLX) - Get Report, who cares about boring old insurance companies? Insurance is everyday stuff, and besides, who wants to think about things like dying, car accidents and hurricanes when we are all having so much fun swing trading high flyers?

Editor's Note: This article was originally published at 2:00 PM EDT on Real Money Pro on June 8, 2015.

This article is commentary by an independent contributor. At the time of publication, the author was long MET.