Another complete mystery to me. Again it is something that Bill could put his own money into but to invest shareholder $ in what is nothing more than a crapshoot is hard to understand. These guys have had a great record of doing acquisitions/investments in companies that have been related to insurance & real estate (the businesses they know and understand) but have not done so well when venturing out of the comfort zone. D-i-W-o-r-s-i-f-i-c-a-t-i-o-n in progress.
We have increased our share of EES which is now named(symbol) FNES. FNES has the worldwide distribution RTS to Ozonix. Ozonix has the ability to clean water, oil & gas w/o chemicals. Ozonix patents are owned by ESPH (look at today's announcement details there). One of our people now heads FNES (EES). We now are renamed in their mining application of ESPH. This is a world-wide application in mining, oil & gas, power plants, municipal water districts, agriculture, etc. Environmentallyy friendly ESPH which is a penny stock on the BB. ESPH has been named at prominent O&G conferences as having one of the best new patents of the year. Frost & Sullivan have given them awards as to product & mgmt. FNF is not throwing money away. Making an investment in the environment is not frivolous but is opportune & foreward looking. If you buy shares in ESPH be careful it is BB.
ESPH showed record earnings.Q2 income of $27.3 Million & EPS of $0.17 . ESPH cleans O&G Faster than anyone by a large margin w/o chemicals. Their product is applicable to many applications including agriculture, municipal water districts, power plants, etc. ESPH has an Arbitratration against HAL for $300 Million which should settle soon. FNF is VERY WISE in recognizing a small company loaded with patents which has world -wide application just evolving. ESPH stock is just P/E of less than 2X. Not so dumb.
Everybody thinks that they are Warren Buffett these days. Guess what, Warren Buffettt hasn't done so well lately. At least there is a plan to divest the restaurants. I think Bill likes getting shmoozed by the investment banks too much.