Snowball please show me where the "hype" is? I thought this company wants to fly below the radar so the board can milk the company slowly with their salaries. I would not call Denny - Hype.
Despite one exception , most Syncora investors are deep value investors who are not involved in high P/e tech stocks. The only problem is that a market crash could hit the high yield bond market and reduce by as much as 70% the 500 or 600 million valuation of the toll roads. Puerto Rico is an old fully reserved issue, but a long term problem might surface in lots of government pension funds.
The plan is for the company to be out of the bond insurance business before then. That's why they are in run-off. For eight years , management has been slowly liquidating and getting out of the bond insurance business. They have been following their plans and earning their salaries. The real question is will they liquidate in time. That is a legitimate worry.
You spend way too much time dwelling on the pink sheets. This company crashed ,burned and almost died while it was listed on the Nyse as sca. It's up almost tenfold from when it was first on the pink sheets. Of course it's not been a straight line (bleep Legg Mason). If this company had gone under , the pink sheet listing would still be just an affect not a cause!
AI
