Most people don't understand Genworth destroyed investor's and institutions wealth, along with many other stocks/companies in 2008/2009 meltdown and with institutions buying back in dropped from $19 back to $4 and hurt the next generation because of one issue, MI. MI was the black hole other insurance companies "Life" didn't have to weight them down when institutions started buying good names again as economy recovered.
Now all the bad news is baked and the good news is price in and Ausi IPO a no go, as stated before its now about earnings and guidance. But the big key has been BV, is it time for wall street to let go?
I'm thinking it could be, CNBC has been pumping bull market and, all in all, corporate earnings have been strong. Everyone seems to think our troubles are behind us, are they? Doesn't matter, all that matters is wall street thinks we are in a bull market.
So if they have finally let g,. throw your T/A out the window! There comes a time when WS looks at earnings 2 years down the road, if they do, they will look past earnings and fill the 18.60 gap up based on the anchor of years past has been lifted, BV and speculation of buyout.
If not, it could get ugly or flat-line.
As a LT investor in Genworth making money elsewhere for now, I'll give it 6 more months and hope for buyout or for institutions to finally let go and go in big.
Earnings at this point is a dart, if the street looks to ride a bull, then Genworth is on their radar and they are locked and loaded, lets hope for their support.
With institutional support, we go to 18.60, without their support, your dart is as good as mine who knows where stock will go ST.
I'll be back, lets hope for good results!
I guess you do not understand trend following disciplines. We are in a Bull Market and not because CNBC says so but due to eps growth. I believe we are in the later stages but the tape will tell us that. In the meantime companies with earnings growth and trade below BV on a substantial basis are pretty good places to invest.