Yellowbrick Investing
RT @CEOStockWatcher: Here is the *real* data on insider selling this week (and I did what every decent investor should do... clean the data -> de-dupe, remove noisy non-discretionary trades, etc)

And the result is... the most normal week of insider trading ever https://t.co/J5EMCr8NiU
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Evan
The Atlanta Fed's 🇺🇸 Q3 GDPNow forecast was just raised to +3.5% up from +2.2%
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Aadit Sheth
Simple prompts that changed my life (part 11) https://t.co/wEL8IuoGgb
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Julian Goldie SEO
Screw it.

Leaking my entire AI playbook 🧠💸

You’re getting everything I use daily:

✅ 200+ elite prompts for GPT-4, Claude, Grok & more
✅ n8n automations for client outreach + hands-free SEO
✅ exact systems I used to scale
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Basically… if you’re serious about making money with AI — it’s all inside.

LIKE + RETWEET + REPLY “YES” and I’ll send it over.
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naiive
this is what men gamble their entire networth for
https://t.co/azBU8u7Jcv
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soken
RT @Trader_Theory: https://t.co/McD9iHMvUa
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Aadit Sheth
RT @aaditsh: This channel literally shows you how to build with AI from scratch https://t.co/Nystbqen30
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Yellowbrick Investing
$TIPT

The saga with the monetization of Fortegra over at $TIPT might finally be coming to an end, with potential upside of 20%+ in a sale scenario.

Rumors circulated that South Korean insurance company DB Insurance was negotiating a potential deal with TIPT for Fortegra. This was later confirmed when DB initiated discussions with local regulators and informed them that it is in negotiations with TIPT regarding Fortegra. DB also recently raised equity, which is likely to be used for the acquisition.

Given the situation, we may see a potential deal announced over the next few weeks. Fortegra is a fast-growing insurance company, with most of its growth coming from E&S exposure. The company has robust earnings and operating metrics, including an ROAE of 30% and a very stable ~90% combined ratio despite its high growth, alongside clear intentions from management to monetize the asset.

Warburg Pincus, which owns 30% of Fortegra, has likely been pushing for monetization over the last couple of years. However, the company has failed to carry out an IPO twice for various reasons. As a result, they are now pursuing a sale—likely before 2026, when WP would be able to force an IPO.

While a sale is not the most tax-efficient way to monetize Fortegra, given the two failed IPO attempts, it could be the last resort. Based on peer multiples and the quality of Fortegra’s operations, an exit at 15x P/E could result in ~25% upside from current levels.

The key risk is if a sale comes in around the rumored price of $1.5bn for Fortegra. In that scenario, unless management liquidates its small asset management business and eliminates all corporate costs, there could be as much as 30% downside from current levels. However, I find it unlikely that a high-quality operation such as Fortegra would be sold at an implied 9x P/E, so this seems like a low-probability outcome. If a sale is completed around 13.5x P/E, the valuation at which WP originally invested, the market is already pricing the situation fairly accurately, meaning downside should be limited. - Dalius - Special Sits
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