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Tower Group International, L.Ş. Message Board

  • donedoodit donedoodit Oct 31, 2013 8:09 AM Flag

    Did The Banks Get the Financials?

    If so, why have they not been released to the public?

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    • Stop propagating the myth known as " intangible assets". There is no such thing as an intangible asset. At best it is the difference from the actual value of an entity and the surplus of the Bigger Fool Theory. If you find a company with a big Intangible asset value on its balance sheet, short it with a target price of the stock holder equity minus the intangible value. You'll do well.

    • Believe they said the intangible assets are still under review. That involves getting lots of projections on future results which are really in a state of flux right now so it does take quite a bit of time. They probably aren't in a rush to get the project done either. I'm not defending the company, they lost control of their book of business and once that happens it takes years and significant resources to really get things under control.

      The banks have tentative financials. They probably just wrote all the intangible assets off for purposes of those reports.