The bottomline is that Frederico is quite aware that the stock is extremely undervalued and that he and management have a very large ownership and are aligned with us shareholders. It sounded to me that they are very close to doing some sort of move to enhance bring out this value. They are probably close to doing a share buyback. They also talked about setting up a subsidary that they said would have a AA rating to do Muni Insurance. The Glickinhouse guy again pressed Frederico about going into runoff to get us our $50 in adjusted book value. The exchange is worth a listen. All in all twe have a very undervalued stock with a great management team.IMHO it is only a matter of time before we see a tremendous return on our investment. In the meantime it is very painful.
Agree it was very interesting. The takeaway for me was that they have stuff going on -- maybe a lot of stuff -- that they can't yet disclose. I was especially interested in the possibility of them finding ways to cut Moody's out of the picture in the healthcare sector. Sounded to me as if there might be something fairly significant going on there.