Syncora Holdings Ltd. (fka SYCRF)

[InvestorPM]

New Information

I disagree that this report/call did not contain any significant new information. This is the first time in over 7 years that the company has provided any type of adjusted book value calcualtion.

They are telling the outside world that this is an important way to value Syncora and to compare it other like companies. The calculation of this adjusted book value can only be accurately calculated by the company itself. They also go as far as to tell us that their calculation underestimes the actual adjusted book value because they were not allowed to add back the pref shares returned by BofA.

So the adjusted adjusted book value per share (ABVPS) is roughly $4.21. Now of course the quesiton is what type of discount should it be trading at... Currently it is trading at roughly 35% of ABVPS.