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Genworth Financial, Inc. Message Board

  • A Yahoo! User Jan 16, 2013 10:09 AM Flag

    Nothing has really changed much

    I listened to the conference call. Genworth is not spinning off the MI business, simply putting a contingency plan in place, which is smart. This does not warrant a 12% share price gain. I am still bullish on the stock long term but this is an overreaction.

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    • Successfully avoiding a credit downgrade to junk certainly merits today's leap. This is more than a US MI contingency plan - it is also the separation of the holding company bond indentures from MI risk, which has been a huge overhang on this for awhile. Worry of contagion from MI to life/ltc helped drive the price down - with Moody's action today, that risk has apparently been mitigated.

      Next steps are to sell Wealth Management and establish ordinary dividends from the life companies to the holding company - that will start the process of improving the credit ratings.

    • In 2010, GNW was trading at close to $20, since then, they still made money every year, of course, the fundermental looks much much better then 2010 this year.

    • Not an overreaction, IMO, because the market has been waiting 6+ months for a sign of leadership and action. This sign means more to come. Institutions realize this.

      Sentiment: Buy

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