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Mercury General Corporation Message Board

  • BGINSURE BGINSURE Jul 30, 1998 7:39 PM Flag

    KST43, YOU PAID HOW MUCH...?

    I noticed on your 7/25 note that you paid $59 a
    share. I know, I know...you are a long term investor. I
    guess you don't have a choice now, do you? I should
    stop kidding you. It is probably a good LONG TERM buy,
    but lets face it there are better tract records.
    Don't put all your eggs......then again maybe now is
    the right time to buy....hummmmmm.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I also think Mercury is NOW at a point worth
      considering another look. I believe that Mercury is like all
      Carriers with stockholders...profit first - agency force
      second. You cannot blame them, can you? I also believe
      they are having trouble with other states and making a
      profit on commericial business remains to be seen. I
      like Travelers, AIG, & Hartford, as a combination, do
      to management, diversification, & long track record.
      As a stockholder I am interested in profit not the
      agency force...sorry. I think one the ways to maintain
      profit, however, it a strong marketing system. If that is
      agency or direct, then so be it. Hey "KST" and I were
      just getting heated up. A great way to learn, so don't
      discourage him (whoever he is).

    • I don't know where you live, but there were very
      few auto losses from the Northridge e.q. KST is
      correct, MCY is not vulnerable to cats like the other
      national carriers.

      I also understand George
      Joseph, MCY's founder and principal shareholder will be
      making a "substantial" purchase of MCY stock in the next
      few weeks. Speaking for myself, I think MCY is an
      outstanding buy right now. We are writing lots of new
      business thanks to MCY's new advertising program. I think
      the analysts will be surprised the the next 1/4 sales
      numbers.

      Am enjoying watching KST and BGINSURE argue their
      points, like two kids each trying to out-insult each
      other. Funny thing is TRV and MCY are both similar in
      that they are both run by street smart owners and both
      have provided their investors outstanding returns over
      the past few years - and probably will for the long
      run. MCY has a much more loyal agent following
      however. When the chips are down, I think the MCY agents
      will rally around their company and vice-versa. I'm
      not sure the same can be said for Travelers, and I am
      one of their largest agents. Hope you two kids keep
      up the skirmish, it makes for good entertainment.

    • I've been reading Joel Wittenberg for the last
      few years and have not gotten any bad advice yet. If
      he says MCY is a great deal, then I'll be adding to
      my position today seeing its pulled back another 4
      points.

    • So automobiles don't get totaled in an earthquake or hurricane. That is news to me.

    • My dear intoxicated friend, your really dont have
      a clue. There are thousands of stock managers that
      will tell you anything to sell their product.
      Did
      you overlook the 1997 highest performer for the Dow
      (Travelers). Did you look at the performance year to date or
      are you still living in the past? Wake up and smell
      the coffee, the run is OVER. Did you know that
      Mercury is now trying to sell commercial insurance? Talk
      about a major exposure in an area they know absolutely
      nothing about! Dump this dog, while you still have some
      "old money" left.

    • MCY has been California's fastest growing auto
      insurer the past 7-8 years, writing thru independent
      agents. It received a boost in profits from Prop 213,
      which bars uninsured motorists from recovering damages
      for pain and suffering, in 1997. Its recent weakness
      is due to the last quarterly report, which showed
      only 3% growth in premiums over the prior year but 33%
      growth in earnings. The slowing was from increased
      competition and a comparison with an outstanding 1997, when
      California 1st required proof of insurance to register a
      car. MCY has recently entered Florida and has signed
      up 200 agents there, where a lot of its future
      growth may originate. It has thrived in difficult and
      highly competitive situations in California before and
      will continue to do well here, but probably not as
      well as in recent years. This isn't a commercial, but
      check out what Joel Wittenberg is now saying about MCY
      on his financial advice line at 900/454-0075...
      Basically, he's calling it the best stock market buy he can
      find, with a PE of around 12-13 and recent growth more
      than double that level. MCY is the largest holding of
      the Nicholas fund, which is highly rated, and boasts
      an IBD EPS rating well above most insurers, as well
      as about the highest return on equity of any
      casualty insurer. It also has no exposure to major
      catastrophes, because it doesn't write HO insurance. The
      founder and his ex-wife own 52% of the shares and haven't
      sold one.

    • Bginsure, I took a look at the TRV board and noticed you were conspicuously absent. I guess you really don't own any now, do you? This is the MCY board. Go haunt a board for short sellers.

    • Bginsure is wrong again. The main purshase was at
      26. Not a bad profit for 17 months and certainly much
      better than Travelers, which is the best of your lot.
      The point about Travelers' departure from California
      is that is couldn't make a profit when others like
      MCY could, making it a poorer investment when the
      market gets ugly. So, Bginsure, it's 3 strikes and
      your'e out.

      • 1 Reply to KST43
      • Get a grip. Mercury is no way going to compare
        with the three carriers I AM a stock holder with.
        Since you don't want to look at the 1998 performance
        (which I think is meaningful), then stretch your dollars
        over a 2 years period with Travelers, Hartford, &
        AIG....average them and compare to Mercury. Bottom line is you
        made a poor pick.
        At least admit when you are
        wrong. FYI, I started making notes on this board when a
        friend of mine and I started a friendly competitive
        comparison stock purchases of Mercury & Progressive and my
        additonal purchases of the 3 stocks mentioned. Wonder who
        is winning? Maybe if you stop replying to me I will
        just go away. You are way to easy!

 
MCY
50.84-0.12(-0.24%)Aug 21 4:03 PMEDT

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