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Kingsway Financial Services Inc. Message Board

  • herbert99 herbert99 Dec 8, 2010 10:30 AM Flag

    KFS Price Target is 60 cents, IMO

    This company is a complete joke. Review the last quarter, and the fact that they just switched auditors. I guess the old gang at KPMG refused to play ball any more, right boys?

    I expect this to slowly melt down by mid-2011, but I don't think it will be a total zero. Book value will continue to slide as the business tanks and the losses mount on all the legacy biz they are stuck with. Remember, claims costs can show up years after the policy "effective date."

    KFS has a bleak history of assessing risk, and entering it onto the books in a timely fashion.

    Hold if you are stubborn, sell if you are smart. no way this can hold $1.00 after the year-end numbers come out.

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4.48-0.04(-0.88%)Feb 11 4:00 PMEST