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OneBeacon Insurance Group, Ltd. Message Board

snogreen 120 posts  |  Last Activity: Jul 22, 2014 10:08 AM Member since: Aug 30, 2000
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  • Another reason Warren Buffet woudl covert SEB is for the huge Seaboard Container Marine division. read what SEB says of it:



    NEXT? Look at wikipedia for a map of Buffets huge railroad, Burlington Norther. It goes right into the shipping hubs that Seaboard has in Texas and Lousiana. Burlington Northern hauls all kinds of dry goods there…surely grains. What if Buffet buys SEB and he then gets Seaboad Container? Buffet owns the rail and then he owns the ocean freight for delivery all over with ocean vessels. You cannot easily replace the large porst that SEB has, LAND! Buffet has the rails, SEB has the ports and container ships. Buffet would see the advantages. He's have what he wants.a "wide moat". Seaboard container doesn't have much competition, and the asets they have are not easily replicated. Combining Seaboard Container with Burlington Northers massive train coverage would own the market. No one coudl touch them.

    Buffet woudl also like the pork and Turkey division. With a little creative marketing and advertising, using Buffets face on 'Buffets Buttterball turkey".. would zoom sales far beyond the normal holiday/Thanksgiving. Peopel buy Buffet. he could do same with Pork division.

    . Bresky is in his 60's. Buffet coudl buy for stock easily. And the Bresky family get's a tax free take out, estate liquidity, and diversification of Berkshire Hathaway stock. And Buffet will still let Bresky run SEB. Win-Win.

  • After a few years of watching, I bought some SEB (only 10 shares so far) around $2,370 yesterday. The hard asssets that SEB has are not really replaceable. Be it the pork & hog assets….the turkey assets….or the assets that the Seaboard container division has…..they have ports in many places. SEB has an 88 acre port in Miami, ON THE WATER. It is literally impossible for anyone to replicate that land asset now. warren Buffet likens that to a "wide moat" around a business. SEB has a "wide moat" around many of the subsidiaries. But the problem is that they are all asset rich, but underperfoming in profit That's just the kind of thing Warren Buffet would love.

    Look at the PORK division. Smithfield foods (one of lartgest similar pork sellers) sold out to China for $$$$. But SEB's divison is even better in that they own their own feedlots. And it is big. Imagine if Buffet bought SEB and put his name on the pork? Sales go up. OR IMAGINE THIS…picture the Norman Rockwell painting of the family at Thanksgiving, with the father at head of table holding a plate with the big Turkey. Superimpose Buffets face on that…..then market it as 'Buffet's Butterball Turkey"……..Buffets face on it….sales woudl go up.

    Puerto Rico is trying to make itself like Singapore. At some point Cuba will be forced to open up. All of this will benefit the container division.

    Bresky owns 76% of SEB. He can't sell because of taxes - for cash. For estate planning he has no choice but to sell out sometime in a STCOK deal. Berkshire Hathaway is ideal..and Buffet will give him family & estate liquidity, and still let Bresky run it. And the pork and turkey divisioons woudl soar in sales if Buffet puts his name on the label. Especially the "Buffet's Butterball Turkey". Does anyone here know Bresky? Great idea.

  • Reply to

    Regenerx, Regado, Nektar

    by donker3 May 5, 2014 1:24 PM
    snogreen snogreen May 5, 2014 6:50 PM Flag

    Nektar isn't that big a deal. They don't have any sights on RGRX really. Nektar is known for the "peglyation" techonolgy on drugs….adding their PEG molecules extends dosing efficacies. It was a big step for Roche when Roche had just regular interferon for HCV..and Nektar added the PEG molecule to make a PEG Interferon…bear of a drug to take, and the PEG extended it.

    So if you were honest and looked at any Nektar patent filing, they don't just target RGRX..but Nektar includes any kind of drug, molecule or theraapy they can come up with. TB 4 just happened to be in the mix. Nektar would still NOT have any rights to TB 4….they's have to partner with RGRX, to add the PEG molecule to TB 4….jujst like Netar did with Roche. Nektar wouldn't ever even approach RGRX, unless TB 4 was ever approved anyways.

    Dead issue. RGRX alreasy has worked on extended dosing thongs for TB 4 as well.

  • snogreen snogreen May 5, 2014 11:22 AM Flag

    Oh….sorry..I forgot. It would never cross Finkels mind to have RGDO's new CFO Don Elsey mention TB 4 in heart to them, as a partner opportunity. My bad. Fink is asleep.

  • snogreen snogreen May 5, 2014 11:19 AM Flag

    Weell, it seems Don Elsey had no interest in the CFO job at RGRX. As a BOD member they know him well. He probably could have had it if he wished. But they couldn't pay much.

    So he ends up at this Regardo Buiosciences (RGDO). Reasd up on them. They specialize in the heart and cardio area.and have a therapy in a 1,000 patient phase 3. So RGDO is late in the process. They also just raised $60,000,000 in a secondary offering. After that was done, they hired Elsey. The interesting thing is that Elsey is there now…and RGDO is in heart stuff..and Elsy knows all bout TB 4 in heart and all the research abstrcts out on it. And RGRX already passed the Phase 1 trial with ease. It wouldn't surprise me if Elsey mentions that TB 4 in heart area is available for partnering…..drug is totaly safe…lots of early abstracts….and the Phase 1 is done…and RGDO sits on a fresh injection of $60 million. IF RGD's phase 3 is a winner, their stock will be a lot higher than the $6 they are now. They will be flush with money…But I know nothing of their therapy or trial. But a nice day dream that we have an inside RGRX BOD salesman to mention to RGDO now about TB 4 heart.

  • Reply to

    BATCH 36 UK N.I.C.E.

    by thebasiles777 May 4, 2014 9:56 PM
    snogreen snogreen May 5, 2014 9:14 AM Flag

    The worst thing about it is that no one at RGRX felt it was important enough tio accept an invitation from NICE to attend the critical scoping meeting review on Jan 9. Had they bothered to attend, RGRX could have answered all kinds of questions about TB 4 and reviewed the Phase 2 Ora trial and the couple other smaller physician eye tests. But Finkel Boob didn't think the review scoping meeting, which could posibly lead to a major country approval of TB 4 in dry eye….was worth his time or effort. Then… how is it Finkel deserves a low six figure salary now reinstated… and ANOTHER 500,000 share free option grant? He doesn't.

  • Reply to

    BATCH 36 UK N.I.C.E.

    by thebasiles777 May 4, 2014 9:56 PM
    snogreen snogreen May 5, 2014 6:30 AM Flag

    I don't think there will be any press on it….either in England or by Finkelstein. Finkel doesn't do things like that. It is good and bad for us. But the result coming is just what the folks at the NHS recommend….if they go along with NICE doing a final approval review for TB 4. If NHS says they are okay with TB 4, then NICE proceeds with their final approval review.. So we still have one more step - IF the NHS says "go". So I don't think there's much press on it coming.

    Almost any other tiny speculative…all-but-broke…bio would do a PR on the NHS decision….but I really don't think Finkel-Boob will. Which is frustrating to us, in that we have to wait and wait…again….but the NHS decision gives us a leg up no one else knows about..…if any of us wish to buy for stock for the final NICE decision…..down the road.

  • Reply to

    bull1863

    by snogreen May 2, 2014 9:07 PM
    snogreen snogreen May 3, 2014 6:57 AM Flag

    If you could read,without bias…. you'd see that I am neither attacking RGRX as a company….or TB 4 as a drug….but only Finkelstein as the head manager of both RGRX and the drug TB 4. Get it?

    I trash not TB 4 or RGRX. I trash Finkelstein.

    Imagine what could have been had Finkelstein not been running TB 4 into the ground for the last 25 years. We've paid dearly for it…and it;s all because Finkelstein married Dr. Goldsteins cousin. IMO, that's how it all began…..downhill from there..

  • snogreen by snogreen May 2, 2014 9:07 PM Flag

    you posted a few hours ago on the heart thing with Dr. Riley:



    I think RGRX is decently covered so far with a couple issued patents heart area..and others that are filed… . I don't think Dr. Riley would have much success finding other pharmas to play TB 4 in heart - if RGRX has some patrents in teh area.… But if Dr. Riley IS looking around for other plays on TB 4 heart area…what is most telling about that is that it sure looks like he is sick to death if Finkelstein's incompetence. Because Dr. Riley has won a couple big awards on his early work on TB 4 in heart area……and he has been doing it for quite a number of years now.

    Dr. Riley might now be finally p****ed off enough that he thinks , #$%$, Finkelstein". Dr's Riley and Smart in England have done a TREMENDOUS amount of pre clinical research of TB 4 in heart…all reads pretty incredible. But after a TEN or so years of it…Dr. Riley has every right to throw up his hands in frustration…. ….if MOTHER THERESA, laid a cancer cure in Finkelsteins lap..he wouldn't know what to do with it. I am very sure that Dr. Riley is equally fed up with Finkelstein, as many stockholders are. But Finkelstein does fine in the end…as he always has done off of stockholders for well over 209 years…back to a low six figure salary……..and yet another 500,000 free stock option grant. PITIFUL. Fire him and get a person that can execute.

  • Reply to

    cardiac

    by borialisnorialis Apr 16, 2014 3:51 PM
    snogreen snogreen May 2, 2014 6:37 AM Flag

    Bo…..you think RGRX could get some money if they got the TB 4 manufacturing process fixed? That was a bunch of #$%$. Lies and excuses by Finkelstein. He said they stopped the heart phs 2 because they could not get GMP quality TB 4? What a lie. Total spin. Because PLEASE explain to me how Finkelstein had NO PROBLEM to get GMP certified quality TB 4 for about 35 HUMAN patients, to inject TB 4 directly into their hearts.…for the phase 1 trial? before RGRX shot TB 4 into a persons heart, the FDA I am SURE demanded to know the GMP certification of TB 4's manufacturers. It is a major part of protocol. So Finkelstein just plain lied. And it isn't the first time he lied to us, I bet. If he got GMP certified TB4 for phase 1, he could also get it for Phs 2.

    So it all boils down to two things. Either Finkelstein didn't want to do a heart trial, or he is so incompetent that he has no clue how to do it. I think it's a mix of both. The Dr's. Riley and Smart in England have provided more than enough [re clincal work on TB 4 and heart….to get some pharma to throw a measly handful of millions to a Phase 2. but nothing happens..because Finkel is incapable of doing much of anything.vbut he's great at collecting salary and free options..

  • Reply to

    Pending news

    by drpiano5 Apr 30, 2014 1:39 PM
    snogreen snogreen Apr 30, 2014 2:26 PM Flag

    It is so damned hard to tell how much the "retail" folks own here..because it is too hard to get an exact amount of shares out. so many offers and so many options and warrants.

    But if I was to ballpark it? Sigma Tau owns close to 30%? Maybe a tad under. Management and Board own almost 10%…..and the new Korean firm owns just under 25%……all total 65%.

    That means us retail investors own about 35% of RGRX. there are no reporting institutions that own RGRX. So it is just "us" with about 35 million shares. I think a few million shares can be accounted for by readers of this board.

  • Reply to

    Pending news

    by drpiano5 Apr 30, 2014 1:39 PM
    snogreen snogreen Apr 30, 2014 1:57 PM Flag

    The England news waited on is just what the NHS saya about TB 4.I thnk we hear in about 3 weeks. It's still a big news item, because the NICE wouldn't proceed with the final approval review if the NHS said "no". If the NHS says "yes"…then NICE proceeds.and it will take them a while. But as you thought (and I do)…If NICE didn't want TB 4, they wouldn't have sent it for the NHS blessing in the first place. If NHS says "okay"…I think odds are favorable that the NICE will approve TB 4. A real approval is when the fireworks start…..and NITE would regret their actions (short position trade) over the last few years.

    You say you are in contact with large holders? I don't think there is any institutional holders in RGRX……so it must be a large.…but "retail" investor?/ I think there is a handful of them out there who do own a lot more shares than we know..…into seven figures worth

  • Reply to

    $71 below book now

    by snogreen Apr 29, 2014 9:48 AM
    snogreen snogreen Apr 30, 2014 9:36 AM Flag

    WTM is a nice long term investment. But my problem is that when the founder, Jack Byrne, died…he was shareholder oriented. That has now changed to shareholder second, to management compensation. Both the "in house" stock managers and the "outside" hired stock managers ……have BOTH severly underperfomed a basic S&P 500 index return for the last three years..and the markets were great.

    WTM mgmt pad themselves by saying that "book value" went up. But their stock investing is very sub par. Why do we pay them $$$ if they cannot even match the S&P 500 index? WTM woudl save $$ if they fired them and put that invested money into a low cost S&P 500 index fund.

    The second issue is that mgmt pays themselves soley based on an "increase in book value". WTM has increased book value. But THEY win - and WE LOSE. They get paid $$ for increasing book value, but SHAREHOLDERS take it on the chin, becauise mgmt then allows WTM to trade for $70.00 BELOW BOOK VALUE. So what good is it for book value to INCREASE…..if the market price, which is the MEASURE FOR SHAREHOLDERS, is at a $70 discount to the book (or liquidation) value? All the while, WTM sits on $1 billion of cash.

    It is also buried in the SEC filings..but most of mgmt is allowed to use the WTM corporate jet for personal trips. That stinks. The stock managers at WTM UNDERPERFORM the S&P 500 for years..and they get rewarded with good salaries, bonuses, other perks, stock awards and free use of the company jet. If JAck Byrne were alive, i'd write him a letter that this is wrong.

  • snogreen by snogreen Apr 29, 2014 9:48 AM Flag

    Does anyone here see a major disconnect? WTM mgmt pads themselves with all kinds of compensation, and they measure that payout by how much they grow "book value". But where are the shareholders yachts? Book value goes up to $656..and WTM price goes down. Who wins there? Not us. We are now $71 below book….liquidation..value. And I wish that WTM woudl be more honest and descriptive of what looks to me to be a horrible investment in the muni bond BAM thing. $600 million of our money was sunk into it. Now WTM discloses that from here on, the return they will get (interest) on that $600 million will be about 3.2%. WHY? One Beacons pays 5.4% and it stock is going up. Buy more OB. WTM has plenty of money. Why aren't they buying back stock at a $71 discount to book? And why do they tie up $600 million in BAM….for a measly 3.2% return?

    I miss John Byrne.

  • Reply to

    market maker action

    by thebasiles777 Apr 28, 2014 9:29 AM
    snogreen snogreen Apr 28, 2014 12:20 PM Flag

    bull…..MM's don't have to ahow an AON (all od none) order. You have better chances getting .19 cent stock with a posted bid, even tho' it will come in dribs and drabs.

    Don't know why you think NICE is a 'fairy tale". It isn't made up. We'll know in a few weeks time. if NICE didn't wish for TB 4, they would not have asked the NHS to waste their time to review it. the glitch is that they are going off the data from the ORA Inc trial….and they use the data showing where there was great efficacy, but those areas weren't technically in the trial design….but it still did work. It certainly is possible the NHS comes back and says they want more data.…another larger trial. But since TB 4 is totally safe, showed some efficacy….and RGRX would probably price it fairly to NICE (compared to a Restasis)….it isn't a complete fairy tale. A lot rides in what the NHS says. If they say "no"..then deal off. if they say "okay - proceed final approval review"..I think the chances are decent you see it approved….but it will take NICE a while to review. South Korea has agreements with NICE. The South Korean company bought in big for a reason. I think they approached RGRX, not the other way around. They know something we don't. Might be NICE.

  • I didn't like the 1st Q report today. OB, SYA and Sirius did very well….the rest stinks. WTM bought NO shares back in Q1…even though we are now $66.000 below book value. But the worst I thought was that they finally came clean on the BAM muni bond thing. WTM put up $600 million. They used to get 8% on that as a return. But now WTM changed that to they get 3.00% plus whatever 1 year bond. So I figure they are getting about 3.20% return on OUR $600 million investement in BAM. WTM owns NO equity in BAM…so as BAM builds up it's book and eventually profit, WTM doesn't get it. All we get now is a little over 3% interest on $600 million. That stinks. We don't pay the WTM execs big salaries, bonuses, free stock and benefits, plus they all get private jet access personally..just so they can brag about getting a 3% return on OUR $600 million. A D0-DO bird can figure how to get 3% return.WHY do we overpay WTM mgmt to do that? example?? OB pays a 5.4% dividend…that is 2.4% higher than BAM pays 3%..and the share price of OB is going up. Same with SYA. This BAM deal is a #$%$ poor one for WTM. A college freshman coudl find ways to invest $600 million with better yielld than 3%. #$%$ deal, imo. A better rate of retunr to shareholders would be to actively buy back stock while we are at a $67 discount to book value.. I'd rather see $600 million spent that way than a #$%$ poor 3% from BAM.

  • Reply to

    WSJ article, today. of interest.

    by snogreen Apr 28, 2014 6:49 AM
    snogreen snogreen Apr 28, 2014 6:56 AM Flag

    you can google the name of the article.it is npt "locked" on the WSJ page.

    Drugs Aim to Help Elderly Rebuild Muscle

  • Article in Wall Street Journal….hyped up talk of a new drug they hope will help people rebuild muscle. Sound familiar? There is a "naturally occuring protein" called myeostatin.…which effects muscle growth. They think tweeking it will help. They talk of BIG companies looking at this area. They talk of how HUGE the market could be. Also interesting, the person leading this work and published.is from South Korea.

    When you see articles like this…it makes me shake my head…. to see how Finkelstein has mis managed the drug TB 4 and the whole company. Readinhg this article you see just how many BIG companies could have interest in things like TB 4. Finkelstein is just too incompetent tio get a trial right (pressure and venous especially)..or market it.

  • MM getting pretty confident. FINRA showed that they shorted 20,000 of the warrants on Friday. Most of the warrant trades were at 1 cent, 2 cents 3 cents… and 5 cents. Someone got lucky getting those warrants at 1 and 2 cents.

    So my guess is that after those prints the MM held it down……and offered warrants at 5 cents…..SHORT. Just a heads up to anyone out there that wants to play the warrants. You might want to check and see i f the MM is still willing to short the warrants at 5 cents next week.

    They'd be an incredible buy for 2 cents….not much risk left there. Maybe the MM who got them at 1, 2 and 3 cents will sell them at 5 cents. they are (as I recall) exercisable till mid June 2015 at 55 cents….the NHS soon news could punch us higher. A NICE approval to sell TB 4 would certainly get us above 55 cents. I figure at least $1.00. And if NHS approves it will take NICE a while to review….but they'd certainly have done by June 2015. Those warrants at a couple cents were a good buy. No real downside risk, and all possible upside.

  • Reply to

    RGNXW

    by drpiano5 Apr 25, 2014 2:45 PM
    snogreen snogreen Apr 25, 2014 3:35 PM Flag

    Wow, that is down…trading at One cent…..One penny? I'd buy 200,000 warrants at a penny…only a $2,000 gamble. Some MM got a whale of s steal.

OB
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