It’s worth reviewing Donald Smith and Co holdings to see if they know what they have with Genworth or if DS&C is just a sale org that markets a Ben Graham formula. I find Beazer Homes uncompelling but it’s up 40% since they filed. $GNW $ACT $BZH stocktitan.net/sec-filings/BZ…

The market EITHER doesn’t understand that Genworth Financial’s ~$5B position in Enact is untouchable by the LTC segment, OR has such little faith in CEO Tom McInerney it expects him to make unforced errors that warrant his nearly $6B negative enterprise valuation. $GNW $ACT

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$GNW earnings today after market close. Call tomorrow. Put on my Carnac hat: >Strong cash flow from enact, Life&LTC (GLIC+GLICNY) continue to drag, maybe some legal improvements. Super excited about all the money being blown on CareScout, no useful metrics provided. $GNW $ACT

Most of earnings is dependent on Enact, who threw nearly a quarter billion EBIT. $145m of that flows directly back to Genworth who will probably show flat earnings due to losses in Life&LTC. It’s non-GAAP, but those losses are properly accounted as non-cash. Analysts are lazy.

1. Carescout with no useful metric 2. Slight legal improvements 3. Life&LTC drag earnings to flat 4. Enact throws off heavy cash. 4/4 Carnac the Magnificent ladies and gentlemen. $GNW $ACT

I listened to the Genworth Financial earnings calls yesterday. Market cap of ~$4B. Insurance book a quarter TRILLION P.I.F ~($250,000,000,000) Zero analyst questions on the call. 1 (ONE) emailed qualitative question, basically “is CareScout different”. It is insane how little

Genworth Financial is moving from defense to offense. 🛡️🚀 After years of battling the Long-Term Care insurance (LTCi) squeeze, the industry giant is finally pivoting. innmb.com/4aUjFuQ #Genworth #LongTermCare #InsuranceNews

Tom McInerney would and could never. Fire him and replace with someone who won’t steal from shareholders. $GNW $ACT

sec.gov/ix?doc=/Archiv… 10-K from Genworth Financial for the 2025 financial year. $GNW $ACT

June 26th 2018 I was 19 minutes late to the opening of the GameStop annual meeting and it was already over lol $GME

CEO Rohit Gupta and his C-suite at Enact Holdings make Private Mortgage Insurance look like an easy business. Revenue up 3%, TRIPLE losses, earnings still 98% of last year. $900m EBIT on $5.3B equity. Rockstar year for Mr.Gupta. I have an idea on how to double his comp. $ACT $GNW

If I were taking a shot at Genworth. I’m walking over to the Enact team and making a deal. It’s a Classic Icahn (Icahnic?) “minus 30” situation. The pieces are there for a bold actor to strike with honestly unbelievable leverage. Ryan Cohen took a less than $100m investment in