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Security National Financial Corp. Message Board

  • workallday997 workallday997 Apr 4, 2013 10:46 AM Flag

    Sustainable I

    It appears that the market does not believe in SNFCA story in terms of it having sustainable earnings. I was a long of SNFCA who recently sold and may buy back, but I dont know why the stock isn't holding gains. Looking at the numbers it appears that the insurance and cemetery services provide about .41 EPS for 2012. Mortgage refis are doing great but the concern is when interest rates start to rise, but I thought the fed backstopped it from increasing too much until at least 2015? Is it just refis on the mortgage segment of the company or is it tied to more type of mortgage opportunities that will be sustainable in any type of market? Losing 2million in mortgage segment versus gaining 16.5 million in 2012 is a huge difference, what did they do differently, that is the key to look into. If the mortgage earnings go to 3-4 million in the future that will put EPS at about .80, so still at this price a fair value. Let me know your thoughts?

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    • The stock has a small float and is being manipulated by short sellers, pretty simple. The market is not "telling" you anything. The goal of manipulators is to make you belive that it is. Most of their morgatges are for new homes and not refi's, they are doing morgatges at twice the national average. How the manipulators got the stock to trade below cash is amazing and should be taught in business schools as an anti thesis to the efficient market theory. How they knocked it down from 9.40 in three days is just more manipulation, they yank it down in the morning and people just want to get out before the next guy does. The stock is insanely undervalued however that means essentially nothing as it is all about demand.

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