Farmer Brothers Co. Message Board

Chris Flowers....youngest partner ever @ GS....responsible (partner in charge) of taking Goldman Sachs public....right hand man for Corzine who is investing in JCF,II which is closing in one week which was trying to raise $ 3.5 Billion but demand for fund was increased to $ 6.0 B iilion...to be used in increasing exposure to European financial institutions & insurance runoff. Chris is former head of GS worldwide M&A for financial services. Great Rodex. Buy & Forget jmho
My largest position by far. Not even tempted to sell. Highest ethics as well.

Dear Fishinabarrel,

I looked at both again this AM. Maybe just my ignorance, my conclusions are the same. I appreciate your good will either way.

Best, Sam

common majority owner of both companies. Major events are occurring now. Buy & forget....great foro grandchildren. Same major shareholders of LUK are in these. Big developments expected soon that could double the size and/or exposure to run off & sub standard insurance. I am a lot more comfortible with these than FARM frankly.

Greetings, Fishinabarrel,

Thanks to the leads.
AFFM, no. Both GEICO and Progressive would eat its lunch.
ESGR is interesting, I wasn't aware that anyone would devote entire business to managing run-offs. But the revenue and income are so unpredictable, I am not willing to pay 20x earnings, esp. a lumpy earnings booked in December. Looks this way, the industry--if you can call it an industry--would grow when disaster like Rita would hit. What can we count on to feed the pipeline between disasters? In such business, LUK can do it when opportunity abound and do other things when not. I'd rather stick with LUK.

Just my two cents, of course.

Best of luck, Sam

sam:

Report released Tuesday. $.18.