National Atlantic Holdings (NAHC)

All Comments on NAHC

  • commenter
    oldtrdr
    Jul 24 12:47 AM
    My Website
    Not All Financials Are Poison [view article]
    nyka,

    A bit harsh....actually, the author's to be commended for pointing out there ARE some/a few things worth looking at in the sector, AND he had the stones to be explicit vis a vis personal holdings.

    A good piece, Dave. I pay attention to your "stuff".

    old trader     Reply
  • commenter
    nyka
    Jul 23 06:13 PM
    My Website
    Not All Financials Are Poison [view article]
    This fails to pass the "Who cares?" test. Reply
  • commenter
    Aalan
    Jul 22 11:51 AM
    Not All Financials Are Poison [view article]
    Historically, it's been hard for insurers to turn a profit when reserves can't be invested profitably. Why should we expect them to be profitable when there's no other investment that is?
    Casualty risks from weather events are at an all-time high.
    I don't see much future here, but good luck to you.     Reply
  • commenter
    SeekingAlpha
    Editors
    Apr 06 05:20 AM
    My Website
    General Discussion on NAHC
    Is this a buy or a sell? Reply
  • commenter
    Risk Arb
    Mar 18 10:20 PM
    My Website
    Posing the Right Questions to National Atlantic [view article]
    If you want to track the arbitrage profit and news for this merger, you can visit www.mergerinvesting.co... Reply
  • commenter
    burkehayden
    Mar 18 12:36 PM
    Posing the Right Questions to National Atlantic [view article]
    As an attorney let me commend you on your seemingly soft questioning of the witness. Something is rotten in Freehold for Gorman to rush to accept $6.25. Sure he comes out ahead. He gets the Company to purchase tail coverage to protect his ass-ets as well as getting his employment agreement honored. If he wanted to retire he should have just quit and let someone else run the Company, or as you suggest, run-off the Company.
    I have never understood the financials on NAHC. It never made money once the book transfers dried up. Do you have any idea how the Hovde's are going to proceed? If they vote with Gorman you and like minded shareholders will have an uphill battle.
    The other issue is why no other suitors have appeared. If $50 million is being left on the table someone should come forward to try to grab it. The contract is silent on the amount Palisades gets if their deal is not taken. I doubt whether it approaches $50 million.
    Anyway, best of luck. Sorry your trust in Gorman was misplaced.     Reply
  • commenter
    johnheidersc
    heit
    Mar 18 12:03 PM
    Posing the Right Questions to National Atlantic [view article]
    David I sold my shares for $6 (basis was a little north of there because I had some at $10 and some at the bottom) but I will be rooting for you nonetheless. I just couldn't stand to look at the position anymore. Reply
  • commenter
    burkehayden
    Mar 16 06:19 PM
    National Atlantic: Is It Really Worth This Price? [view article]
    Let's be real. NAHC played with reserves last year by taking down $30 million for no real cause. Some have come back, but not all. The asset side is all good here. This is a liability story. Should the $6.25 offer reflect true book value then shareholder's and the SEC should have a big issue. I would ascribe to the liability side Gorman who has been untruthful with his "partners"-s... who own 87% of this company. Ask him why he thinks he deserves to walk away with $9 million on his $1.5 million investment in NAHC (along with continuing his employment contract). Ask him why his fellow officers are entitled to have their employment contracts honored by Palisades? (what is the cost of that portion of the contract to shareholders). Ask him why the very nature of his agreement was changed while shareholder values sunk? Ask him why shareholders should pay for his "tail" protection on the D & O policy.(he gets $9 million, let him pay for it).
     Reply
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