Seeking Alpha

kbok

kbok
Send Message
View as an RSS Feed
View kbok's Comments BY TICKER:
Latest  |  Highest rated
  • Natural Disasters Aren't The Only Threats To Universal Insurance Holdings [View article]
    Agreed the 262 parties in those cancellation cases that settled in May 2013 (not LATE 2013) will not be renewing, but UVE's companies have over 500,000 policies in Florida -- that is a very small percentage, and that included cases going back to 2009. During that same period the large insurers were pulling out of Florida dumping hundreds of thousands of policies to Citizens. Which do you think is the more significant number? My insurance policies (with another company) say they may be cancelled for material misstatements in the application, and you know well that insurance fraud does exist -- if such misstatements were, in fact, made it is not a case of "cancelled due to no fault of the insured". Furthermore some of the issues raised by the OIR were due to timeliness of payments and refunds, etc, not improperly handled cancellations.

    Your personal experience was from 2009-2011. While I don't condone their past bad behavior, do you have evidence this is continuing as of June, 2014? If not, you are unnecessarily slandering the company. You are welcome to assume the glass is half empty, cite past poor service and assume it is continuing today, I suppose, but it seems over the top to call their current behavior unethical without providing current evidence.

    Ultimately, we have about the same opinion on the stock at this point though I do think it is worth accumulating when there are price dips due to weather threats, real or perceived. As with any company it is wise to keep on eye on financials for a change to the growth story and that I will do.
    Jun 23, 2014. 05:23 PM | 1 Like Like |Link to Comment
  • Natural Disasters Aren't The Only Threats To Universal Insurance Holdings [View article]
    This article is firmly rooted in the past, the market should be forward-looking. Nearly all the concerns raised are practically ancient history. The company has engaged an investment adviser and is no longer investing by the seat of their pants. Obviously they are still heavily weighted in hurricane risk zones, but a strong El Nino is coming in for the eastern Pacific which has a strong correlation with a slow hurricane season in the western Atlantic. The maverick founder is out as CEO and selling shares steadily, which are being absorbed by the company so the dilution mentioned is now a positive thing. I hope the new management is addressing any service problems, and competition from other big insurers returning may pose some threat to rates, but consumers do remember when they got dropped by those same insurers and may be reluctant to do business with them again -- there is no worse service than having your insurance cancelled for no fault of your own. Thanks to low interest rates, among other things, cat bonds and reinsurance have been selling at attractive prices, and UVE has obtained protection. A bad hurricane has always been a risk for this company but by expanding into other states they are addressing that as well. I am long UVE. This stock is no longer the screaming bargain it was below $5, but it still has an excellent yield and there are few areas of the stock market where you'll find that kind of ROE. Summer to early fall can be a risky time to hold this stock but it can present good entry points to accumulate if other investors get nervous about risks from a particular storm threat to the east coast.
    Jun 23, 2014. 10:18 AM | 1 Like Like |Link to Comment
  • Baxano Surgical: A $3 Dollar Stock Trading At $1. [View article]
    Thanks for sharing your story; glad to hear your surgery was a big success. I was originally told of this company by someone who follows the ortho industry closely. He told me how AxiaLIF is a win-win for all involved (patient, surgeon, even insurers), for the reasons that you mention. Glad to hear that from a patient. Just hope the insurance companies come around to where they are all approving it without special review, resumed coding being the first step.
    Mar 5, 2014. 07:07 PM | Likes Like |Link to Comment
  • Baxano Surgical: A $3 Dollar Stock Trading At $1. [View article]
    Have some interest in BAXS and increased position significantly in early Jan with the apparent end of 2013 tax-loss selling and hope for at least a "January effect" rebound. That rebound is occurring, so far so good, but I had also hoped a strong catalyst in an announcement from one or more of the remaining large insurers that they are going to be reimbursing AXIALF without individual case review this quarter. I am disappointed there has been no news yet on this, but when it comes this would propel the company, and stock further. Of course a buyout by a company like Stryker or Nuvasive could also be a nice gift for shareholders.
    Feb 26, 2014. 07:25 PM | 1 Like Like |Link to Comment
  • Commerzbank: Substantial Value In Germany's 2nd Bank [View article]
    Thanks for your breakdown of assets and earnings. It does seem that the market is jaded by recent past and perhaps overly focused on risks in a smaller segment of the business.

    Recently the ECB is making new rules for stress testing and my understanding is that they are going to take a snapshot at the end of 2013 and stress test based on that with a required capital ratio of 8%. This looks to be more of a challenge than the numbers than you cite for the end of 2014. I'd be interested in your opinion on the current capitalization based on the new rules.
    Nov 3, 2013. 10:40 AM | 1 Like Like |Link to Comment
  • Protected Principal Retirement Strategy: Change Is Not Always Bad [View article]
    I also like PSEC and MAIN. Diversified among those.
    Mar 25, 2013. 10:02 PM | Likes Like |Link to Comment
  • Protected Principal Retirement Strategy: Change Is Not Always Bad [View article]
    I understand your concerns, but if one is going to sell I think this is exactly not the time to do it. This is the time to add to one's position - while the share price is depressed due to the temporary oversupply caused by the influx of new shares.

    For me I don't think the small difference between the dividend and actual income plus capital appreciation of their investments is enough to get too concerned about. Just don't blindly reinvest dividends in these BDCs, wait until the shares go "on sale" with their secondary offerings.

    Yes, there may very well be a short-term pullback in the markets in the next few months, but if you believe we are in a macro recovery (see long-term housing data, unemployment data trends), TICC should continue to appreciate going forward, and the dividend should protect the extent of the short-term pullback.
    Mar 25, 2013. 05:18 PM | Likes Like |Link to Comment
  • A Dozen Rapidly Growing Stocks Getting No Respect [View article]
    I like Zagg at least as a recovery play in Q1 of 2013 (January effect). The shorts have really hit this one. About 30% of the float is short. The litigation concerns proper notification of the shareholders regarding the former CEO's holding of margined shares that got callled, accelerating the downramp in mid 2012. Nothing really sinister in my mind -- nothing accounting related, for example -- and they have litigation insurance. The share price has stabilized and the company has just refinanced debt not only reducing financing cost but now allowing repurchase of shares with their cash - and a share repurchase plan is now in place. With tax loss selling over and the shorts no longer making money I expect the shorts to be covering in early 2013.
    Dec 31, 2012. 11:00 PM | Likes Like |Link to Comment
  • Zagg (ZAGG) plans to showcase more than 100 new products at the CES electronics show this year. The company continues to branch out from its core products with new gaming accessories and kid toys on tap. Despite a bullish vibe from Wall Street on Zagg, shares are still under a bit of pressure from lingering class action lawsuits. [View news story]
    Agreed, Capitulator, there is little substance to the threatened suits. Board has addressed the situation and the company is performing well. Tax loss selling, if any, should be abating. Company has a good operating plan and seems to be ready to defend the stock from the shorts who have piled-on.
    Dec 20, 2012. 10:52 AM | Likes Like |Link to Comment
  • Bank of America is reiterated a Buy by JPMorgan's Vivek Juneja, with price target raised to $13 from $11.50. No Dick Bove, Juneja makes the move even as he cuts price targets on 6 of the other 8 big cap banks he follows. Of the 9, just BAC, C, and KEY still trade at discounts to their tangible book value. [View news story]
    Confusing article. Don't understand why he is not Dick Bove-ish? Which were not cut, the ones that trade below book?
    Dec 14, 2012. 04:47 PM | Likes Like |Link to Comment
  • Getting Ahead Of The January Effect [View article]
    I agree on this one. In my opinion Zagg is in perfect position to ride the January effect this year. Naming of a CEO in the near future could provide a big catalyst. Technically, its had a bump-up of late, so the short-term downtrend has been broken.
    Dec 2, 2012. 08:53 PM | Likes Like |Link to Comment
  • Zagg Has Huge Upside Potential [View article]
    Zagg seems to have all the hallmarks of a "January Effect" stock to me -- and often those moves actually start in December. Tax selling may be balanced by shorts taking profits before 2013 and any increase in tax rates on cap gains. Interesting price activity Monday could be interpreted as island reversal of the dip below $7 -- perhaps the beginning of the January Effect move.
    Nov 27, 2012. 11:28 AM | Likes Like |Link to Comment
  • International Bancshares (IBOC) declares $0.20/share semi-annual dividend, in line with previous. Forward yield 2.02%. For shareholders of record Sep 28. Payable Oct 15. Ex-div date Sep 26. (PR[View news story]
    As an IBOC shareholder this is a bit disappointing; I had hoped for incremental bump-ups every 6 months, but I understand in the next 12 months they want to focus on paying back the expensive and restrictive TARP funds without a capital offering. If they can accomplish this it will be a big win and could help to boost future earnings.
    Sep 17, 2012. 09:45 PM | Likes Like |Link to Comment
  • KeyCorp (KEY): Declares $0.05/share quarterly dividend, in line with previous. Dividend yield 2.6%. For shareholders of record Aug 28; Payable Sep 14; ex-div date Aug 24. (PR)
       [View news story]
    ...I should have said "resume bumping-up" the dividend since they did so last quarter.
    Jul 13, 2012. 09:50 PM | Likes Like |Link to Comment
  • KeyCorp (KEY): Declares $0.05/share quarterly dividend, in line with previous. Dividend yield 2.6%. For shareholders of record Aug 28; Payable Sep 14; ex-div date Aug 24. (PR)
       [View news story]
    Yep, 0.05, looks like they fixed it. Email alert was mis-leading. Hope they can start bumping-up dividend later this year.
    Jul 13, 2012. 07:18 PM | Likes Like |Link to Comment
COMMENTS STATS
21 Comments
5 Likes