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Harry Long Was Right About FMMH


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Fremont Michigan InsuraCorp announced quarterly results, and they weren't pretty - http://www.sec.gov/Archives/edgar/data/1271245/000119312510188834/0001193125-10-188834-index.htm

 

Harry correctly expressed a worry about the growth of their personal lines business, and now it looks like the chickens are coming home to roost. What scares me most, is that they're still growing these lines at breakneck pace.

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People are out of their minds if you ask me.

 

A $20 stock that is illiquid and meets all of GG's criteria for dog with fleas catches a $29 cash bid. 

 

Harry made a good point - stock trading at $27 - take profits and move on.

 

If wild eyed crazy Biglari (I think a pearl jam song) removed his bid - you would have a 2 year wait minimum before $29 flashed in front of your eyes.  At least 2.

 

GG did say that Greed is good.  But although I haven't seen WS2, I heard the commercial - and pigs do get slaughtered.

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