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Kamil Kolacek  

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  • Genworth Financial Cites Inadequate Controls [View article]
    Agreed, but then what. This company does not really have any market leading positions in any of its business lines. No moat, no competitive advantages. I guess you could say that it does not have much competition in the LTC sector, but that is for good reason- all of the smarter players have long exited that business. I know GNW management believes that they can figure out a way to make this segment popular in the long run if they get the pricing and modeling right, but so far they have proved that they are doing the exact opposite.

    I am starting to view them as a distress situation and value trap. It's up to them to prove that they are an actual value stock in the Ben Graham sense, in order to that, that will mean NO MORE accounting issues what so ever!
    Mar 8, 2015. 01:54 PM | 1 Like Like |Link to Comment
  • Genworth: A Cheap Stock With Bullish Long-Term Upside Catalysts [View article]
    You make a good point about rising rates. I really think that this is the only thing that can truly save this company. Other than that, they are a mess.
    Mar 6, 2015. 03:14 PM | Likes Like |Link to Comment
  • Genworth: A Cheap Stock With Bullish Long-Term Upside Catalysts [View article]
    Well said. Yes, it has already proved to be a value trap, now it needs to prove otherwise and with all of the issues you mentioned in your post, it will be difficult for GNW to do so. They just do not have very strong market-leading positions in ANY of their business segments. Honestly, I am hoping for a White Knight to swoop in and buy them, but my guess is that any potential acquirer will wait for even more pain to develop before tending an offer and if they do so, it may be for certain business segments, not the whole enterprise.
    Mar 6, 2015. 03:10 PM | 1 Like Like |Link to Comment
  • Genworth Financial Cites Inadequate Controls [View article]
    Hmmm, yeah, but both Graham and even more Buffett, believe in leading companies that have strong competitive advantages, even monopolies, and great brands. Genworth, unfortunately has known of these in any of its markets.
    Mar 6, 2015. 01:24 PM | 1 Like Like |Link to Comment
  • Genworth Financial Cites Inadequate Controls [View article]
    Maybe, but I am seriously questioning their modeling and mathematical skills. Granted these are extremely difficult things to model, the profitability and potential payouts of these long-term insurance contracts, but still. If there are any further reserve deficiencies, watch out.
    Mar 6, 2015. 01:22 PM | 1 Like Like |Link to Comment
  • Administration rejects GSE recapitalization ideas [View news story]
    Hmmm. Really? Nothing but crooks? Not Fair? Yeah, is that right. So let me get this straight - I take it you are a shareholder in one or both of these companies? So tell me, you and the rest of all of these good public citizens here who are investors in the GSE's how much collateral are you putting up to insure the millions of American mortgages that Fannie & Freddie stand behind? How much exactly?

    Why don't you and a bunch of other private investors get together and start your own insurance company that backs American homeowners. How much capital do you think you would need to raise for the market to have faith in you backing up even a minute percentage of over $6 trillion in US real estate? What type of insurance premiums would you charge in order to fully insure a homeowners principal and interest payments? Give it a shot, let me know how it goes. That way you would have 100% private ownership and no Government interference what so ever. You could reap 100% of the benefits of such a firm and wouldn't have to deal as much with all of these government "crooks."
    Mar 6, 2015. 12:08 PM | Likes Like |Link to Comment
  • Administration rejects GSE recapitalization ideas [View news story]
    Yes, maybe, but the Government DOES NOT NEED private equity involved in these two firms. Private equity holders are just very minor stakeholders in the GSE's.
    Mar 6, 2015. 11:44 AM | Likes Like |Link to Comment
  • Russia Is Exxon Mobil's Future, And The Future Is Bright [View article]
    Yup, well said.
    Mar 6, 2015. 11:22 AM | Likes Like |Link to Comment
  • Russia Is Exxon Mobil's Future, And The Future Is Bright [View article]
    lol - what ???
    Mar 5, 2015. 07:56 PM | 4 Likes Like |Link to Comment
  • Genworth Financial Cites Inadequate Controls [View article]
    I hope this is the only roach in the kitchen but I doubt it.
    Mar 5, 2015. 06:22 PM | Likes Like |Link to Comment
  • Fannie And Freddie: Deficit Reduction Tool Or Mortgage Market Future? [View article]
    Just more FNMA pumping here, lol. Please. Stop. Now.
    Mar 5, 2015. 06:05 PM | Likes Like |Link to Comment
  • Assured Guaranty - Significant Intrinsic Value Per Share Growth Continues [View article]
    This is a company this is very prone to what I would call "blow-up" risk, beware.
    Mar 3, 2015. 06:48 PM | 1 Like Like |Link to Comment
  • Genworth: A Cheap Stock With Bullish Long-Term Upside Catalysts [View article]
    You never want to see the words "material weaknesses" when describing a firms accounting controls.
    Mar 3, 2015. 04:02 PM | 1 Like Like |Link to Comment
  • Genworth tumbles after disclosing accounting "material weakness" [View news story]
    There's always $0.00.
    Mar 2, 2015. 07:13 PM | Likes Like |Link to Comment
  • Genworth tumbles after disclosing accounting "material weakness" [View news story]
    Soo this is what it is like investing a true value trap. Ugh, kill me now !
    Mar 2, 2015. 02:27 PM | Likes Like |Link to Comment
COMMENTS STATS
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