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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: Covenant who wrote (1463)5/25/2012 11:38:07 AM
From: thatsnotluck  Read Replies (1) | Respond to of 1876
 
<<What do you think a good bid would be, 30% of tangible book conservatively stated?>>

how does an outsider determine a conservatively stated tangible book value for a life insurer?

assets get marked to market, but not the liabilities. the FMV of both assets and liabilities are higher when interest rates are low, but only one of these is being fully reflected in the GAAP reporting, no? i suppose one could back out unrealized investment gains. not perfect, but directionally helpful to the cause. i guess back out after tax unrealized gains? hmmm.



To: Covenant who wrote (1463)5/25/2012 11:39:09 AM
From: batman100231 Recommendation  Respond to of 1876
 
it's a stinker.

not much to say on the name. spoke with the company this week. pretty confident.

do believe they are closer to doing something. nothing tomorrow or even next month. but the company understands they need to close the valuation gap.

3 years from now this is a double at a minimum. would not be surprised if it's at 300 bucks in 3 years.


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