Other than compliants about Nashville-managment, what is working well?
The Company is doing 100s of millions of dollars of business each year.
How is their product working? Is it competitive? Can you sell it? Should I buy it? Why buy, or why not buy? Are they asking too much of their employees? The new management seems to have improved recently.
There are new investors taking an interest in the business. There have been large upside bets placed on the stock and the future most recently. What did you see they did not see?
Since I am buying their stock, what am I missing?
Their underwriting guidelines were extremely lax and allowed for fraud. This is the first company that doesn't have the agent photograph a vehicle or even verify a vin # when comprehensive and collision is sold. They had massive amounts of losses due to fraud in Florida (when I was working w/ the company) and continued with the same guidelines. Yes, they may have millions of dollars in sales but there are also losses that eat away at those profits. I shouldn't say they are a joke but when there are people "managing" that have horrible marketing ideas and have no insurance background, one begins to question the top brass. This company can be turned around and easily return to it's $10/stock price but it's going to take some serious gutting and fine-tuning.