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Tower Group International, L.Ş. Message Board

  • cabogordon cabogordon Sep 27, 2013 12:54 PM Flag

    during the crisis tower traded north of 20. makes you think


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    • Was actually just looking at that. Their share price didn't take a hit during the worst of the crisis and that really doesn't make much sense to me. They owned some CMBS and RMBS and took good size (unbooked) hits. The most surprising thing is that they did some big acquisitions in February 2009 just as the crisis was really starting to roll. Actually, they entered into the agreement on the Castle Point prior to Lehmann in August 2008.

      This just isn't looking like a bargain to me. The CEO has been buying companies he has relationships (I think that is true with the latest acquisition) with and then he has to sell shares? Glass Door reviews indicate a lack of respect for CEO too and these were posted prior to the latest issues. There is a point where I would think about buying shares but I'm not there. Maybe I'm wrong but that is my gut reaction.