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Gerald Ford's (no not the formet President, a famous bank investor) investment vehicle. Hilltop hasn't done much with the cash it has, other than use it to fund a medeocre insurance business and make some smaller investments, but the stock really shouldn't be trading at such a large discount to the cash that it has on the books.Deej
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All of a sudden Hilltop Holdings dropped to about .8 Price to book value? What gives? It's a blank check company set up to to buy distressed debt. Gerald Ford, the chairman is well tested, but what about his son, Jeremy Ford? Usually familial run companies outperform, but Jeremy is untested so we'll see. The success of this company rest squarely on the decisions of the management.
This met a high level screen to indicate a buy and strong outperform against its peers (other tickers in its industry). My 1st version of this spreadsheet devles deep into the company's balnace sheet and recent income statements, combined with other relevant price data for the company including insider/institutional holdings, short interest, debt levels, etc. Testing capabilities of this 1st version of my automated, valuation spreadhseet matched with my personal criteria and see how it holds up.
Trading for less than working capital and close to a Ben Graham "Net net" scenario
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