Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Tower Group Goes From Bad To Worse To Almost Unbelievable

When I last wrote about small insurance company Tower Group (NASDAQ:TWGP) back in January of this year, my faith in management was wavering after management chose to compound the poorly-executed acquisition of OneBeacon and successive reserve charges (that essentially revealed that prior earnings and returns on equity had been overstated) with a risky transformative merger. In the interim I lost what remaining faith I had in management and sold my shares, and the company's ongoing issues with reserves certainly erodes confidence in the company's future prospects

No Q2 Earnings Before The End Of Q3

Although Tower Group shares are down more than 30% Wednesday, the press release from the night before was relatively innocuous. The company announced that...

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