The 10 Most Recent Messages By TMFValueMagnet

Valyooo - NIM is calculated before leverage. If you pay 3% on assets, lend at 4%, then your net interest margin should be 1%.

  

Re: Ownership.

I don't own many stocks, but I own a lot of stock. Funds aren't listed in my profile, but you can safely assume I have plenty of stock market exposure with funds, and likely own some SAFT indirectly through those (I
(Continued...)

Another way to think about this is just to look at SAFT over multi-year periods, adding up all of its earned premiums, losses, and expenses to find its combined ratio over the long haul.

Over the last 5 years, SAFT's loss ratio was
(Continued...)

Jordan Wathen here.

My read is that the $11.7 million related to reinsurance ran through loss expenses, so it has the effect of reducing SAFT's pre-tax earnings by $11.7 million.

It affected actual earnings this
(Continued...)