How exactly have you been misled? If you invested in PNX you are an idiot period. This company hasn't sold any insurance since 2009 after they got downgraded. They are in run off!
You deserve to lose your money
Lester you should be ashamed of yourself. You are a pumper because there is no way you can possibly think that any company see value in this company. Using religion is uncool. Go away and take your pumping self away.
8 sailfish today and hooked on blue marlin that broke off. Wonderful day, now just sitting and enjoying a fantastic sunset with a glass of Chardonay.
Respectfully, nobody is bidding for the whole company at any price. I don't think you are a great evaluator of this business. Certain assets might be worth significant money but nobody will take on that balance sheet to get them. I could see a sale of their building or IT platform or whatever but no way on that toxic book of business. Maybe look at ticket PFX as a wakeup call. Publicly traded debt is trading at a discount in this market.
from one of the members of our vast congregation, Cantor Levy, he postulated that PNX share price is being worked down so as to make it more acceptable to the potential bidder. Heaven forbid, we should be considered "pumpers" where we are in fact simply and humbly helping charities, but perhaps PNX might be accumulated here in anticipation of a pending acquisition. My dear friends, what do you think
Rabbi Lester Cohen
Great market going on for all similar stocks, we need to replace the CEO and Senior Leaders. They are unable to take this company forward. This CEO and also the Chairman of the Board tells the shareholders we remain strong!!!! How can they live with themselves just taking this stock to new lows everyday. I'm calling the SEC to see what can be done as shareholders have more power than one thinks. I believe they have lied in all aspects especially with the reinstatement. What a bunch of fools to hold a shareholders meeting to continue the lies. Thank god there's an afterlife where they will be judged!!!!! How about this license to steal!!!! They are plain no good!!!
WOW!!! Even the fish lady is not that harsh, but she is my kind of women. Right on. Sandy most are just pumpers that look at numbers and think this is their meal ticket. It has been their meal ticket for most to eat at McDonalds and their dollar menu. To much risk for a buyer to take on.
Fishing has been fantastic these last few weeks. Enjoying the great spring weather, fishing, and wonderful friends who come and visit. Loving Life!!
Why are people investing in PNX? This company is going bankrupt
They have no sales and no one will buy the company. As others have stated PNX is trying to sell but no one will buy. What PNX needs to do is sell the remaining blocks to a hedge fund and liquidate the company.
The posters her are stupid novice traders who think they have some inside knowledge, trust me they know nothing. Take your 5K dollars and invest somewhere else. This stock is a loser
LOL! $38.87 today! "My brothers and sister who own PNX, havre faith and hang in there"
Well that was stupid advice lester, wasn't it?
Sentiment: Strong Sell
I will try to answer longer at some point but there is no buyer. The liabilities are high and the capital buffer is low. If I were looking to buy I would take the people, the platform, the brand, but not the book of business. The problem is the policyholder's are in first position, then the bondholder's, and then the shareholder's. And not really mentioned management is in there too. Somebody has got to run the ship and they don't do it for free. I think there is some pump and dump happening. They are talking up the turnaround. If the stock lifted to $100 don't think for one second they wouldn't be selling. Not only that the company would probably dilute shareholder's to rebuild capital. I can't really offer a lot of advice on what to do if you are holding shares. The stock can go up 50% or down 50%. It is a coin flip.
Robert... I appreciate the banter, it's helpful. Still not clear, and am asking your humble opine... Seems like about 6 months ago they were pursuing a "suitor" for lack of a better term. Do you think this is their way of their own little "pump and dump"? This company has traded at a miniscule percentage of book for years, and obv nobody seems to care... You seem very knowledgeable on these guys, and I'd love to hear your thoughts
I should add I do have 10 years of real life insurance industry experience. It is very difficult to turn around an insurance company. This isn't technology where you can innovate your way out of the abyss. They can't conjure up a new product that everyone has to have that cannot be replicated by others like a life saving biotech drug. What you see is what you are going to get. They wrote bad deals and now they have to work their way out of it. Furthermore, I don't think the financials are telling the story. The liabilities that you should be concerned with are not on the balance sheet. They are the future claims that must be adaquately reserved for that may not be correctly realized. This pension obligation is likely not a one time event. It comes down what makes up that pension. If it is a defined benefit plan it could be pricey. Add in the $400M in debt that they have that is a drain on holding company capital. My last trade on this stock came at $20 and I sold at $44 thinking that was high. So now we are beginning to finally work our way back. This stock will not hold up in a 5-10 percent market selloff because it takes very little volume to move the stock. It is floating around aimlessly. I can't short this stock because I don't know if the next $10 is up or down. I just know at some point we will break $30 again.
You are a comedian and you did not even know it. My best guess of your investor prowess is you either have some long term connection to this stock or you found it in a filter based on lowest price to book value. Good luck! Your success in this stock is effectively random whether you can see it or not. Please don't tell me that this stock is trading at 0.3x book value and it is worth 0.7x book value. I am fully aware of what is going on in the real world. People are doing what they have to do to make ends meet. Management is collecting their paychecks on the 15th and end of the month like a lot of us. Every March or April they get their bonus check. At anytime they can receive a better offer and go work someone else. Shareholder's please! Mutual funds have most of the voting rights and they will vote with management because they are generally passive. And by the less than $1 million changing hands on normal days don't get confused as to whether anyone cares! They don't. There is no quote wrongdoing to be found other than the multiple mistatements! and $67M pension losses out of nowhere! You book the reserves you are required to book. You meet the capital needs you are required to meet. You extend another pay period another bonus. When you sell at $20 I will be there taking your shares and starting over again with another band of misinformed pumpers and shorts.
I feel you have no grasp of what is going on in the real world. PNX is a public l;isted company subject to intense scrutiny by auditors, regulators, securities enforcers, justice department, and a board of directors elected by us , the shareholders. If as you allege there are shenanigans going on, the "police" would have stepped in, and shareholders would have booted the CEO and other officers out of their job. On the other hand, most sharehol;ders believe the directors are doing the best possible out of a bad situation. They will be heroes at the end of the day, believe it and trust me
Rabbi Lester Cohen
I will say a misheberach for you in Shule nect time, you need more blessings in your life
check out the fundamentals on stocks like Celgene, Akorn, Apple and ask yourself again what are you doing gambling on this house of cards?
Um, you don't get it. They are cashing paychecks and bonuses staying away from strategic alliances and sales. Got to milk the cow all the way to the end. There is no plan other than that. Great gig if you can get it. I am a long time watcher who has successful been in and out of this thing a dozen times. Still too high. At some point will drop below $30. Maybe during a market selloff. For the 100th time, look at the GAAP book value and subtract out the DAC. Then look at a stock like NWLI and ask yourself what are you doing?
have faith my friend........
look at the charts, it goes through these dips ever so often, and then bounces back higher than ever.
Au contraire to what some dumpers would like to believe, I have studies their financial statements and as a student of the Torah, I see parting waters, and profits coming through them
People with nouse will be buying soon
People with no chutzpah are shouting doom and gloom
Bless you, and be brave
Rabbi Lester Cohen