good post gerald
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good post gerald
i see the australian has a story on this too
Tower taps Goldman Sachs for review, eyes on Badger International
https://www.theaustralian.com.au/sub...haviour=append
I bought 20,000 shares this morning on the open at 59 cents.
Reason for purchase:
1) FY24 guidance of $22M- $27M underlying NPAT. Lets say $24m = eps of $0.06 or trading on a forward P/E of 9. They say they have set large events allowance conservatively at $45m. As bull says above, if there are no major events it could be a 'super profit' year.
2) Goldman Sachs. I did very well when Goldman was shoulder tapped by ERD. Goldman no doubt will be wanting a deal (takeover) which will generate fat fees for them...
3) Looking at the 10 year chart it doesnt look like there is much downside risk here vs what appears as healthy upside potential. The worst the SP got was Nov 2016 around 53 cents. The Tower business today seems to be much better than then with revenues 51% higher but total operating expenses only 35% higher. Policy liabilities has grown 47% since 2016. All this growth yet SP a fraction above then.
4) Lots of valid points made by other STr members including the new IT system which is a major for insurers.
Good luck to us holders, may we make a heap of money :t_up:
[QUOTE=bull....;1032414]i see the australian has a story on this too
Tower taps Goldman Sachs for review, eyes on Badger International
https://www.theaustralian.com.au/sub...haviour=append[/QUOTe
Paywalled unfortunately
Does the article say anything new that wasn't said in the market release.?
[QUOTE=Poet;1032450]just that PD Insurance owned by Badger does a lot of travel and pet insurance followed by motor and house contents so i think there implying a tie up would make sense and give pd bigger scale in motor and home and twr new markets in travel and pet. also mentioned chubb as a possibilty.
also if you look at pd accounts most of there investments are income generating which twr is not so to me it wasnt done as investment income for there float it reads to me
ggod close today. panic sellers gone who thought the worst.
Im with RAWZ. 45k shares @ ~59c.
Go the vampire squiddy.... sell this turd.