concerns me a bit. they didn't seem to address the points brought up in the SA piece. I suppose they couldn't get into the nitty gritty, but I'm concerned that there is enough of a cloud here to keep shares under pressure. I'm out and probably not getting back in anytime soon. By the time you find out whether any of the accounting issues are legit, it probably lower. Anyone else here able to rebut the SA piece?
AFSI management says losses were included and Geo says not; since AFSI has been audited for years, the auditors would have to be complicit in this scheme if it exists, which seems weird. Even weirder is the hit on MHLD, which is not owned by AFSI at all and just does reinsurance swaps with them. Market gets crazy sometimes.
I also hold mhld and would like to understand the connections here a little better. Ziskind is non-exec chair and a major shareholder of mhld. how tied up, from a complete business sense is mhld with afsi?
Unfortunately, audits don't give me much comfort... too many examples of companies with audited statements that were cooking the books. I'm not implying that's the case here, just can't afford to have capital exposed to potentially un-measurable risks.