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White Mountains Insurance Group, Ltd. Message Board

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  • snogreen snogreen Dec 8, 2011 4:07 PM Flag

    WTM 440 Today

    I sold because I did not see them doing another Dutch tender. I thought they might. There is also a risk that WTM slows way down buying back shares and they look to do an acquisition. Just look at Alleghany (Y). They are similar to WTM..and they just bought TransAtlantic Re.....and they are a bigger company than Y.

    WTM likes to do turnarounds that take a while......And now they have a LOT of cash around thanks to Esurance sale.

    One stock caught me. Assured Guaranty (AGO)..It has a good balance sheet.....it is aroynd $13...the book values is in the low to mid $20's - so it too is cheap. Th ereason I say is that in the Fall, one of WTM's board member resigned because of a conflict of interest..in a project that he was doing for WTM, made him no longer "independant".

    I think the market prefers WTM to keep buying back stock, and I think WTM would go down if they make a large acquisition. Because WTM will buy cheap, and cheap companies like AGO are priced cheap and under boook for a reason....AGO is basically a muni bond insurer. the guy on WTM BOD who resigned used to run AGO........so there is the connction to WTM/AGO.

    I don't own AGO. And I hope WTM doesn't make an acquisition.

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