Jump to content

More Reserving Issues At KFS


Parsad

Recommended Posts

Such a crappy insurer! Poor investors that invested at 20$.

 

Were they able to give their company to charity in the end or did the court stop them?

 

BeerBaron

 

 

As I recall, the court stopped them. 

 

This thing is a pig.  Shoot it now, bury it, and the insurance industry can simply move on.

Link to comment
Share on other sites

They were authorized but only by the letter of the law but with strong recriminating language leaving the open the door for other actions. There are two things I do not understand:

 

1. Why they keep underwriting at a loss in a short tail business?

2. Why they have not been more aggressive in buying back their debt at a discount with their large cash horde?

Link to comment
Share on other sites

I remember when I was working at a stockbroker firm (in 2005). The analysts used to recommend KFS. Everybody can do mistakes, but I've let that one pass!

 

 

Yes, I distinctly remember Ross Healy recommending this stock when it was in the low 20s.  I held it until after their first real bad quarter and managed to get out with a slight profit.  Lucky me - those quarters kept coming and coming.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...