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Federated National Holding Company Message Board

  • daveparker0808 daveparker0808 May 21, 2012 10:21 AM Flag

    If TCHC is only 6% undervalued then it's a toss up.

    Buyback or no buyback. That is the question. If it is more than 6-7% undervalued then, why even take the investment risk given the uncertainty in the market. I guess if they would just come out and say that they feel the stock is within 10% of being fairly valued, then I would be Ok with the 6-7% return going into our favorite season.

    I would just like a statement from them indicating their thought process here.

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    • dave,

      re: <If it is more than 6-7% undervalued then, why even take the investment risk given the uncertainty in the market>

      Many investors, such as myself, took an investment risk when TCHC was under $2.50 last Sept/Oct when there was also lots of market uncertainty...the general market was in the midst of a greater than 20% pullback, far worse than the recent pullback (so far).

      TCHC didnt announce a buyback then, nor a divvy, and they must have known the company was going to have strong quarters going forward. So why do you thing they have to do one now?

      And companies dont come out and say where they believe fair value is, noone does that and noone should. Its up to us, as investors to make that decision by buying or selling.

      I'd be happy if they announce a buyback. It makes sense since we are around 50 of tangible book..with a pretty strong biz. But I wouldnt buy TCHC hoping they announce a buyback this very moment and then be forced to sell b/c they didnt announce it by some arbitrary date.

      best.

 
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