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MGIC Investment Corp. Message Board

  • paidbasher38291 paidbasher38291 Jan 25, 2013 5:22 PM Flag

    jasper burch, another useless analyst

    $1.69 a share loss, where does he come up with that, not that i think mtg is going to make it long term, but they aren't going to lose 1.69 a share unless they really make some drastic reserve changes, revenue will come in just shy of 300m, plus realized investment gains of 130m or so (does jasper not understand that concept?), incurred losses will be in the 315 range, december was a pretty good month thanks to the dqs that got capped out thanks to stop losses (not that the underlying mortgages performed better than expected, mtg just hit loss limits on some primary deals by the sounds of it, but a dq reduction is a dq reduction), then there is abot 40m a quater in expenses, and 25m a quater in interest, and then the grandaddy of them all, the 267m in freddie settlement they will have to post, add it all up, 300+130-315-40-25-267=-217m in loss, with 202m shares outstanding, that is 1.07 a share loss, to get to 1.69 you would need another 125m in loss, i guess jasper didn't get the memo that management is taking realized gains in their portfolio, even though they have disclosed they were going to, like in this note to the Nov 30th press release "Partially offsetting this negative effect on statutory capital is the $100 million transfer to MGIC and any realized gains on the sale of investments during the quarter.".

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