Catco Reinsurance Opport... Share Discussion Threads

[elric3] 31/1/2023 19:28

!FOLLOWFEED
With Charts

[spectoacc] 24/1/2020 16:02

Sold the last of mine, still well under NAV but they've gone very quiet/no more buyback - is there bad news they've yet to tell us?

[spectoacc] 30/12/2019 07:49

Another 3m C's bought at 39c, mid price, so still going for it. Going to be dribbling mine out soon.

[spectoacc] 20/12/2019 15:11

I accept I'm on my own here, but I def think they buyback is finding it harder to come by stock. Suspect the 50k at 37c today is a sell to it, but that's 3c higher than 24hrs ago.

Presumably anywhere near 50c is a ceiling, and I'll be sold well before then.

[spectoacc] 19/12/2019 13:49

Guessing 133k at 34c was more buy-back, but at 35/37, are we finally getting past the sellers? NAV still north of 50c, for what that's worth (perhaps not 50c).

[spectoacc] 05/12/2019 07:33

Another 1.1m C's bought & cancelled. This only works if the NAV isn't destroyed!

[spectoacc] 29/11/2019 09:01

Smaller buys, not sure if this shows it's winding down or that they've absorbed most of the available stock at the price.

Still seems slightly strange to me - big NAV discount, yes, but for a reason! NAV only goes one way.

[spectoacc] 27/11/2019 14:01

CATC still being supported by the buyback.

[spectoacc] 22/11/2019 08:57

Another write-down and may not be the last, but hopefully better provisioned this time. Would leave it at c.40% below NAV.

[spectoacc] 15/11/2019 15:40

Another 1.2m C Shares bought back today.

448m in issue, out of interest, so this can go on some time.

[spectoacc] 14/11/2019 08:30

They really are buying back those C's - do we think they know what they're doing? Are they better at buybacks than running the chuffing insurance book? I hope so.

Think I'd prefer they kept paying out the cash in divis. Looking forward to next NAV tho.

Edit - last C-shares NAV 57c, haven't the nous to work out the accretive effect of the buyback, & natural disasters/performance prob more important, but hoping there's another c.10c of rise to come eventually. NAV due next week.

[spectoacc] 05/11/2019 14:22

And up we go again - marginally, at any rate.

Anyone else in the C's, or just me?

Anyone else willing to admit it? ;)

[spectoacc] 05/11/2019 08:59

Got a not-to-be-sniffed-at divi on the C's, paid 1st Nov, only just noticed.

Obviously hoping to get out of these higher than the c.31c I missed out on on the tender - including making up for £ having got stronger..

Last C repurchase was 1m at 30c & does seem to be underpinning it now.

[spectoacc] 30/10/2019 07:36

OK buying a few C's now - maybe it doesn't take much. Hopefully a much better outcome than when they were buying them at $1!

"On 29 October 2019, the Company bought back 175,000 C Shares in the market, at an average price of USD 0.30 per share.

Following this share purchase, these shares will subsequently be cancelled. "

[spectoacc] 25/10/2019 07:39

Co bought back 425k Ords, but not seen why the C's have ticked up.

[spectoacc] 23/10/2019 10:12

Turns out I'm still completely in the C's - I must have put 1c too high in the tender, wish I'd recorded what it was now. Completely out of CAT tho.

Been ticking up of late - have we gone a fortnight without a natural disaster?

[spectoacc] 11/9/2019 07:01

Worse depending on when bought, but the directors piling into the C's at $1 says all you need to know about their judgement!

[topvest] 10/9/2019 18:06

Well the ordinaries are 80% wiped, albeit we have had some returns along the way. Still, we’ve all lost half our investment with these clowns. Time to move on and thankfully a small investment for me.

[spectoacc] 10/9/2019 06:49

Agreed @topvest. Can't remember what price I went for in the tender now! Think I'll be out of c.70% of the C's tho.

Will be interesting to see what the directors have done - tender any, or none? The remaining NAV should be much higher.

CAT/CATC have been a fiasco - CATC in particular. "Let's start a new fund after the old one has suffered big losses. Oops - the new one is half wiped out".

[topvest] 09/9/2019 19:55

If I read correctly all Ordinary shares tendered will be accepted at 20c. Is that what everyone else sees? Will be happy to exit this very poor investment. Can't win them all, but I think I have learned a lesson on this one and I don't think CAT funds like these have been very well run at all. Too much money and risks have not been appropriately priced.

[spectoacc] 13/7/2019 15:45

The alternative view is that it's an El Nino effect, hence it's come on so rapidly (unlike MMCC), but agree re the CATs - what a fiasco they've been, possibly my worst holding ever.

Edit - actually, I've had some divis, even if/when they go to zero :) Am sure I've had some go pop in the past without even a divi to soften the pain.

[jonwig] 13/7/2019 08:43

Storm Barry could turn out nasty. And surely it's a month early for these things? Maybe a lot more people will be convinced that MMCC is for real.

More woe for the CATs.

[spectoacc] 29/5/2019 14:10

Missed that, thanks - prefers the CAT to the CATC's.

[bandit99] 29/5/2019 14:09

interesting to see a director forking out $45k on shares...