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Mercury General Corporation Message Board

  • progressingpilgrim progressingpilgrim Nov 1, 1999 5:43 PM Flag

    11/1 News Report...

    I'm not trying to be the hopeless optimist, but
    check out Motley Fool's release. Despite the
    company's report of weak earnings, the Fools
    have nice value-type words for MCY. Pilgrim

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    • Glad to hear of your plans. As for those
      well-
      performing funds, reflect on their success as
      a possible
      signal to shift some $ to bonafide
      value plays like
      MCY. In time, this stock is going up, either on its
      own or because of a
      buyout. I found out the hard
      way, too, that it
      pays to put rock-solid firms in
      an IRA/401k
      account, since a failing company
      can't even
      be sold for a tax-loss. God bless,
      Pilgrim

    • Our packet from the broker came thru' today,
      Monday is the earliest we will be able to get in. (This
      is wife's IRA money.) I am encouraged by the big
      purchases today. Somebody out there thinks it's time to
      pick up a bunch of this. So no, not in yet, but yes,
      will get in Monday.

      This is hard. I also want
      to buy NUE, WCOM, FRK, NITE INTC, HWP, SWY, ISIP,
      yadayadaya. Da. Right now, in spite of the run up in the
      indices, there is a lot of value out there. I hate to pass
      any of it up, but to do it means taking money out of
      well-performing funds (also IRA's) and thinking I'm smarter than
      rich, famous fund managers. Well, those folk make their
      money off of almost-smart-enough people- like me?


      Back to my personal acquaintainceship with
      myself!

      Good luck, and thanks for the
      hand-holding.

      Best, Mark

    • I've been a buyer at 24.5 and 21.625 the
      last week, averaging down from previous
      low-thirties purchases. Are you in yet?
      Pilgrim

    • of the Chevy truck commercial... "Like a
      rock...". Come on George, stop trying to elbow the
      competition on their own terms and redefine the rules. That's
      MCY's historic strength. Where is it today?

    • is the managers selling to raise money to get on
      board the current momentum.

      Now I'm really
      starting to like this stock, but now benchmark it at book!
      I have a gut feeling that it will soon enough turn
      around, and once it does I think it will move nicely.


      So: buy a $1000.00 worth, collect dividends for a
      while, and then sell it if need by to invest in
      something else. The money is at least better than savings
      accounts!

      Good luck, Mark

    • You've got my number. I am afraid to get off the
      dime without a guarantee. I tend to hedge my bets
      mercilessly. I am back to knowing that I do not know, and
      very, very wary of my own tendency to
      brashness.

      Once more it comes down to the knowing yourself,
      eh?!

      Nice to hear from you. Please don't hesitate to be
      bold again.

      Yrs, Mark

    • My sense is you've got enough information
      to
      make a decision. If I may be so bold, I think
      you'd
      be better off to either initiate a position
      now
      (at a great price by any measure) or put
      your $
      somewhere else. No use torturing
      yourself over what may
      happen, good or bad,
      with MCY. Have a nice one,
      Pilgrim

    • You are being a great help. I am so naive that
      you may consider me a blank canvas- tabula rasae, or
      whatever. Your information is giving me some insight as to
      this company's ability to compete and therefore come
      back, I hope, as a stock.

      I have not yet
      invested in MCY. I have been looking at it for about 2
      year; I'm so glad I didn't buy it then! But now I'm
      starting to wonder how it could get much
      cheaper.

      This value investing is hard.

      Thanks
      again,

      Mark

    • actually i thought i said mcy's combined in
      california was in the upper 80's. (this is what mr. joseph
      said in the last conference call). i dont know what
      pgr's combined is in california but if you compare the
      value line on both you will notice they average 6 to 7
      points better than pgr over the last several years. as
      for how they do this the only clues i have gotten are
      from some forbes articles over the last several years
      and from insuring with them in illinois. gene sit
      (from the investment firm bearing his name) was quoted
      in that article saying that mercury intervews their
      customers as the fbi intervews suspects. when i insured
      (they were by far the cheapest) i was asked about 20
      questions concerning my lifestyle. i have to believe they
      are simply more sophisticated underwriters than the
      competition. (they are able to quantify the risks for each
      answer). with mcy making a new low today i remarked to my
      collegue (sp) that it aint bad to provide a commodity
      product at a lower cost to the consumer and yet have
      bigger margins than the competition. this combination
      does seem powerful. yet as a shareholder (large i may
      say), it is getting very difficult to see it go down
      every day. i have told my assistant to let me know when
      it approaches book (i dont look anymore, afraid i
      might panic and sell). IF YOUR READING THIS CHRIS
      GRAVES TELL GEORGE TO DO SOMETHING. as for the question
      mark asked me, i dont really know what more he is
      looking for, if he can explain i will be happy to
      expound.

    • You mentioned that PGR's combined is in the upper
      80s. I've done some spot checks on prices. It looked
      to me that MCY is more than competitive on price,
      including vs. Geico and PGR. I have yet to gain a complete
      understanding of how MCY can undercut so many larger carriers
      and remain more profitable than most. I would think
      that the direct guys (at least) should have some sort
      of edge. Setting aside the poor performace this
      year, MCY is simply awesome on all fronts.

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MCY
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