Member Info for jollyspeculator

ref yr 08.15 post..I am one of yr "idiots"..do u not now think yr language a little intemperate??

I have been Jolly lazy, and left a 1k free carry here and lost several hundred pounds profits as a result ...I deserved to be hit where it hurts ...looking for sub20p to buy back a few more K shares from cashed out profits ...if that comes to pass

yes...the management and reserving for risk is at the heart of valuing GAH imo... ...I agree with what I take to be the market aggregate PoV: a higher degree of skepticism here is prudent... ...With Jolly adj TNW of perhaps c10p, and I don't feel a 200% premium is justified

felt had to sell some at above 5p first thing...agree LT prospects look promising, but this language struck me as unnecessarily difficult to read/understand...so had to de-risk

Our 2014 results have been impacted by a significant fire claim in France, which, including reinsurance reinstatement and net of reinsurance ultimately cost the Company £3.1m. This, together with a UK based claim amounting to £5.2m, of which £3.2m is recoverable under reinsurance, has disproportionately impacted our results given our relatively small size.

"consistent approach"..sure...but was it the "right" one? "prepared an actuarial best estimate"..sure...still "the gap between the carried reserve and the actuarial best estimate [is] £7.5m" ..if you subtract this £7.5m and the intangibles...wot is the Jolly adj TNW? ...yes, low compared to current MCAP...suggest it is worth punters time & effort to do the maths ...amused opinion only

of yr depth..cash is not the point here ...look at "Reserving Policy Since inception, the Group used a consistent approach to calculate reserves in respect of its insurance liabilities at the balance sheet date. In keeping with best practice, the Group has prepared an actuarial best estimate (which is subject to an independent actuarial peer review) of its reserves which has provided a "best estimate". In the absence of its own mature experience, this assessment has necessitated the use of certain market level benchmark data, hence such reviews can never fully capture the impact of the Group's "niche underwriting" strategy, tight policy wording and beneficial impact of a proactive and efficient claim handling process. The Board has always been satisfied as to the adequacy of its reserves and for the above reasons, to differentiate between the niche underwriting strategy of the Group and the estimates derived from market level benchmarks, the Board has historically targeted held reserves below the independent actuary's best estimate, but within their range. Indeed experience shows that settlements are generally below the case reserve which increases the best estimate calculations that take the case reserves as a starting point. Nevertheless, the Board has made additional provisions in 2014 to reduce the gap between the carried reserve and the actuarial best estimate by 45 per cent to £7.5m. " and future reserving rules ..and go figure

away like snow in May

amazing sp performance...what's yr tp?

to answer yr point on wsg..need to pass thru 25p on way lol

ready to boogie

imv

back on free carry plus cashed out profit ...looks a trifle toppy to me

see last two substantial/relevant rns...YA still has plenty to sell (if they so desire)

sooo attractive...esp now that transformative deal may well make this both cheap on earnings/fcf metrics AND ludicrously cheap compared to asset value ...if there is a placing to dilute MTI computers (or MTI sells down to minority somehow) then this shd whizz ..imv

.

yep...but the slight weakening of US$ stops me

returning...could move up pretty smartly given huge pipeline and decent brand/market position ..opinion only

lol?

today were day trades?? That's what it looks like...utterly bizarre