Kansas City Life Insurance Co. (KCLI)

[MrchntDeth]

Goodbye moring, Professor E.I.,

Just wanted to mention that I woke up this morning, checked several differently titled accounts (e.g., my Roth IRA, my wife's old Rollover IRA from some years ago, a jointly-owned regular taxable (non-retirement) account, a couple of UTMA's for the grandkids), and just like magic, saw that all of the KCLI shares in all of the accounts now had a Contra CUSIP to reflect the Reverse Split effectuated at 6:00 p.m. (CST) yesterday evening. This even includes some shares that were just purchased yesterday morning for the little ones in their UTMA savings accounts for college.

No single account held more than 249 shares. Had any account held 250 or more "old" KCLI shares, I would have been reverse-split, 1:250 shares, and a minute later, at 6:01 p.m. (CST), forward split, 250:1 shares, and I would've still been the proud owner of the old reverse split, new forward split "Darkly Traded" KCLI shares.

Instead, each of these old, reverse split shares, with the new Contra CUSIP, will now be exchanged for $52.50 a piece.

This was some of the easiest money ever made, especially the shares purchased yesterday near the opening, at just under $50.00/share. I haven't yet done the math on these last minute purchases of KCLI, but the annualized return should be a crazy number.

Who, in their right mind, would be selling KCLI on what would've been the last day of trading before collecting another 2 1/2 bucks?! The only things that comes to mind would either be big Institutional Investors that either wanted out while this was still fairly liquid and/or those same large holders wanting to sell, believing that the Reversed-Forward Split KCLI will be trading much lower than yesterday's price trading range.

I don't think that these were small (i.e., < 250 share holders of this stock. I hope not, any way.

"Irregardlessly" [sic, I'm happy as a Lark this morning. Deals/offers/opportunities like KCLI don't come along very often, with as much "scalability" as this one had (where one could buy up to 249 shares per account, and where the Sellers of the stock were willing to give up such large spreads on this one. The spread did narrow a bit in the last 2 days of trading, but anyone reading their updated Schedule 14 SEC filing would have noticed that they had TRIPLED the amount of money that they had initially allocated to take this company dark. This told me that the handful of large owners (that already collectively held more than 2/3 of the company, saw this as a TREMENDOUS opportunity to buy out as many small holders (those with < 250 shares), delist the stock, make it much more illiquid than it had already been, and allow Bixby, et al. to run this company as their own private little fiefdom.

Well done, Bixby Family . . . well done!

MoD

Ps: thanks for the Christmas money. We're much obliged!