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Non-Tech : London Pacific Group - LPGL doubles... -- Ignore unavailable to you. Want to Upgrade?

To: maven2010 who wrote (151)	4/15/1999 7:49:00 PM
From: GoBulls	Respond to of 737

I apologize for earlier comment. I now understand your view. Thanks for the clarification. Amazing DD. Thanks GoBulls ps can you crack the Matrix? lol.

To: maven2010 who wrote (151)	4/15/1999 7:50:00 PM
From: Joseph Waligore	Respond to of 737

Maven's posts sure are interesting. I am having trouble putting together his stuff and Auric's worries about the management with the fact that these guys sure do invest in good companies and seem to have a solid annuity program going. The companies they invest in that are private also look really good.

To: maven2010 who wrote (151)	4/15/1999 7:53:00 PM
From: DwcOkla	Read Replies (1) \| Respond to of 737

Maven, The Security Exchange Laws in the U.S. must be followed if a Company, even a foreign one like LPGLY, is listed on a Public Exchange like the NASDAQ. If it is listed, it must follow U.S. laws regarding audits, and therefore must be audited annually in accordance with Generally Accepted Accounting Principles (GAAP). For you to infer that there is something underhanded about their accounting methods is slanderous. The method you speak of is legally used by Investment Capital firms, because their performance is based on how well their investments are doing... So therefore at the end of every Quarter, and at every year end, they must "REVALUE their Assets" to current Market Value. I think you should go back "into the shadows" and read something about GAAP accounting and how the SEC can sanction any company not following GAAP.

To: maven2010 who wrote (151)	4/15/1999 8:06:00 PM
From: rupert1	Read Replies (2) \| Respond to of 737

maven2010: Thanks for your post. "i find it interesting that no one here has brought up several fundamental issues" I only started today. I noticed the share buy back, but from memory, I thought it was 10% - you suggest it was more. I also wondered about the motivation for the lack of self-promotion of the stock. Given its apparent penchant for a low profile, why issue US ADR's? Jersey has rules of its own - but is being brought more tightly under UK law and regulation. The listing on the London Stock Exchagne will require that its accounting principles are transparent and conventional. There are grounds for wondering whether it is being run almost like a private company - or as a target for a management buy-out. Yet the change in accounting principles suggests it is preparing to be evaluated by the public on the increasing value of its holdings . (I assume it does not expect the same accounting principles to decrease its public value with a decrease in the value of its holdings). No problem with the Chairman holding 25% of the stock. Don't really see the point of your double dipping remark. The shares we are buying get the benefit of any cpaital appreciation or revenues flowing from both LPGLY and BICC investments. Does anybody have a London address or any operational address for the company. I'll make some enquiries f there is a UK address.

To: maven2010 who wrote (151)	4/15/1999 9:17:00 PM
From: still learning	Respond to of 737

It's truly too bad you prefer the shadows. Thanks for the input. I'd be interested in hearing your input on cash flows and valuation. Admittedly, I'm not prepared to determine their cash flow, as I find their consolidated profit and loss statements a bit confusing. However, at the risk of derision, I'll make my feeble attempt in the hopes that someone more versed (like yourself) might be willing to give a bit of guidance. It looks like they have 1.328 billion in cash flow coming out of insurance. They have set aside 1.276 billion for reserves. but it is unclear to me whether to subtract the reserves from the investments, or to assume a rate of return on the reserves and assume that is what the statutory cash flows are worth. Please help. Re one point you made: "he insurance company is not worth anything close to $29 per share, but that's ok, at least you guys are trying. this company changed its accounting last year so that changes in the market value of its equity holdings are run through the p/l as 'earnings.' this is not allowed in the us, but this is a jersey-domiciled company, and accounting can be pretty creative in offshore tax havens. . ." I know that SFE, an NYSE company which is a straight venture company, is marking to market one of its securities. I am unclear as to why they are able to selectively do so, but this is definitely the case with ther TLAB holdings. They own about 30 other companies, and those in which they own more than 50% largely determine their earnings, along with any capital gains from shares sold. How is this different from LPGLY? Please note that SFE has been public about 25-30 years and is not an internet wannabe. I know you may decide to stay in lurk mode, but thanks in advance for any input you might have to offer. I realize that the widespread flaming and pissing contests on SI can detract from its value. But I do find that those willing to share can be an incredible resource. Please also note that the reason I am here is to try to understand this company and perform DD rather than blindly following internet mania. Having held SFE, a somewhat similar company for about 15 years, I am very interested in finding similar such companies but I am also not a CPA and am having some trouble understanding the LPGLY business model. Re their non-forthcoming attitude, it clearly concerns me. They gfot into trouble in the past, RICO/lawsuit largely because of their double dipping relationships. I am less concerned that the chmn owns 25% than that they are not very open about their actions and holdings.

To: maven2010 who wrote (151)	4/21/1999 6:12:00 PM
From: xcr600	Respond to of 737

Maven, just got through verifying your post of LPG's holdings as of 12/98. Excellent source, took me awhile to figure it out. <g> Care to comment on Societe Generale Real Estate or Sumitomo Treasury? Sumitomo holdings look like preferred shares of the bank, but I can't find much about Societe Generale (sounds like a French real estate investment trust? <-Chris, this ring a bell at all?) LPG also has 135k common shares of Phoenix Investment Partners (PXP). I believe PXP may have a backdoor type ipo coming soon. (Haven't verified or looked to far.) x