Travis any thoughts about Tiptree and there big jump today? Didn’t know if you still follow them.
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I still own them, just in the Lock Box instead of my regular
Portfolio. it’s good news — essentially a similar outcome to if they had spun out Fortegra and sold some of it in an IPO, it recognizes some of the hidden value of Fortegra.
Still relatively undervalued, since that investment implies that Fortegra alone was worth $600 million before Warburg invested… and TIPT is still well below that, even if you discount their other investments. Haven’t dug into the numbers in detail, but seems a solid move by Tiptree management.
Didn’t think to check the Lock Box… thanks for your thoughts on the deal. I love the site! Please keep on going!