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MGIC Investment Corp. Message Board

  • titusmabon titusmabon Mar 6, 2013 1:11 PM Flag

    Bought the hype

    Bought the hype and paid $6. Sold some to protect myself on the downturn. Got suckers into this by Cramer. Shame on me.

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    • hey titus,

      I bought at 1,12 $ some days later it was around 0,7 $ ... :-) ... i really think for now a first horizon has to be around 8 $...

    • Titus...

      I've been in since September of 2011... when the stock was $2.37.

      Since then, it went down to $.69, and then all the way back up to $5, with a long period of the mid $1's and low $2's in between.

      Did I want to sell at its low? Yeah. But I held on.

      You gotta have a strong stomach sometimes, mate. That's what separates the winners and losers.

      It may make a little dip here, as people take profits. But even with the capital raise (I wouldn't call going from 200 mil shares to 330 mil shares killer), this stock should eventually go a bit higher, methinks.

      There's a yin and yang to everything, and nothing is ever as great as you want it, or as bad as you may worry it is.

      It was definitely the right move for them to raise capital at this point, eliminating any questions about their liquidity issues or risk to capital ratio.

      Interestingly enough, I don't believe the company actually HAD to raise capital... they just did it suddenly because they saw the opportunity and because they wanted to make themselves that much more competitive.

      Contrary to all of this hoopla about NIW, MGIC still has -- I think -- the lead in monthly premiums with a 21% market share. The monthlies are where the money -- and long-term viability -- are at.

      I've been following this sector for a while now, and MGIC is a good company. The best in the business, I think.

      MGIC is taking all the hard necessary steps now (raising capital, taking settlements on chin, refusing to go after anything but the highest quality business and over-reserving for claims), whereas RDN is playing smoke and mirrors with denied claims and single premiums.

      Just remember, there's a reason all the great investors say to buy a stock ONLY if you intend to hold it for FIVE years or more.

      Sentiment: Buy

    • lasvegasmn Mar 6, 2013 1:12 PM Flag

      you're a rookie investor. trick is buy long term not on hype. - LONG we go. If you want your money back you become and investor and not a day flipper.

      Sentiment: Hold

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