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Randy: 'Raina does not have any kind of strong background in what he's doing...his origins are pretty humble.'

Considering this *pretty humble* bloke was the one who salvaged Ebix from the junkheap over 10 years back, I'll take him any day over supposedly un-humble empty suits.

One of the most entertaining things about investing in Ebix is that most of those not-so-humble analysts are too busy obsessing over irrelevant minutiae like his accent/ origins. If the same criteria were applied to either them or some of the CXOs they worship, I wonder how they'd fare.

'Companies that grow, particularly through constant acquisition can most easily hide aggressive accounting or general sloppiness of any sort.'

Yes, it's a serial acquirer, and a lot of its recent growth has been acquisition-driven. If that makes it a 'fraud', then so are other serial acquirers like Oracle, J&J, Diageo...

As Raina has repeatedly and painstakingly explained to those who actually listen, the highly fragmented insurance industry's business processes are a dog's breakfast of inefficient paperwork, lack of standardization and hodge podge legacy systems. By acquiring and integrating all the bit players contributing to this mess, Ebix brings its customers into the 21st century of B2B transaction processing.

I think it's a complete waste of time casting aspersions on an aggressive acquisition strategy without understanding the customer need driving it.
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