George Joseph, the Chairman and Founder of Mercury is one of the smartest and savviest insurance people in the business. He has created a sales force of independent agents that is fiercely loyal to Mercury despite representing other auto insurers. He has done this by showing unwavering loyalty to these independent agents, sticking through good times and bad. Mr. Joseph has started the transition of power and made a good choice in appointing Mike Curtius as President. Curtius has pushed the technological and marketing initiatives that are really helping Mercury grow You will be hearing and seeing a lot more from Mercury in the next month. They are starting a major radio and billboard advertising campaign beginning April 27th. This should really get the phone ringing at their agents offices.
Two concerns for Mercury. If Quackenbush isn't re-elected as Insurance Commissioner. If competition starts to drive the combined ratios back over 100%. Either way, Mercury will be a winner but it might impact on their growth in CA.
In the four or so years I have owned MCY (400+% increase in value) I have always thought of it as a that dosent need alot of "babysitting". It is a great, profitable and conservative company. It will run up a few points, stop and catch its breathn and then move again. Usually not and hugh advances Except at earnings times) or drops. I am in it for the long haul. Welcome aboard!!
Everybody seems to be happy with this stock ... Hopefully it will make me happy, too. I bought today at a little below 62, thinking something must be in store after yesterdays phenomenal rise. Is anybody aware of something special going on, or was that the effect of the Wall Street Journal opinion mentioned in this message box?
Except for the prop 103 rebate quarter, this company has never reported a loss which is highly unusual in auto insurance. This has been one of the truly great stocks to own over the last decade and should outperform going forward as well. Looks like we'll see earning upgrades to over $3.00 in the near future for 1998.