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Primus Guaranty, Ltd. Message Board

  • bankman0072003 bankman0072003 Oct 26, 2007 11:06 AM Flag

    Soooo Misunderstood

    You can't look at the site to examine this business. The data feeds are garbage. I suggest you go to the annual reports and the quarterly announcements to determine what you've got here.

    GAAP doesn't work due to the mark to market requirements. So along side GAAP the company reports "Economic Results." When you look at the "Economic Results" the CAGR since 2003 is 46%.....Yes 46% (2006 results were $51M). Now, in that time the stock price is down from an IPO price of 13.60 to 9.55....that is just simply nuts.

    Due to increased volatility and the Mark to Market requirements it is very possible that GAAP will be low this quarter but Economic Results will blow the roof off and the biz is so misunderstood that the stock price might even go down from here. But don't count on it.

    Very Long PRS
    and its little sister the exchange traded bond PRD (offering a yield at 9.7%)

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