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Kingsway Financial Services Inc. (KFS): A Bull Case Theory
Kingsway Financial Services Inc. (KFS): A Bull Case Theory

Yahoo

time2 days ago

  • Business
  • Yahoo

Kingsway Financial Services Inc. (KFS): A Bull Case Theory

We came across a bullish thesis on Kingsway Financial Services Inc. (KFS) on Andvsri's Substack. In this article, we will summarize the bulls' thesis on KFS. Kingsway Financial Services Inc. (KFS)'s share was trading at $12.86 as of 30th May. A professional insurance agent at work in a modern office, representing the company's independent agents. Kingsway Financial Services (KFS) has undergone a significant transformation from a troubled Canadian insurance company into a unique, publicly traded search fund platform. After years of poor management and failed investments, activist investor Joseph Stilwell took control and installed Larry Swets as CEO to utilize the company's substantial net operating losses (NOLs). However, Swets' tenure saw limited success until the 2016 acquisition of Argo Management Group and its founder, J.T. Fitzgerald. In 2018, Fitzgerald became CEO and began a comprehensive cleanup, exiting legacy assets, selling the insurance business, reincorporating in the U.S., and dramatically reducing debt. Under Fitzgerald, Kingsway launched the Kingsway Search Accelerator (KSX) to institutionalize the search fund model. Search funds—vehicles where entrepreneurs acquire and operate small businesses—have historically generated strong returns, and Kingsway's platform improves on the model with superior capital access, operational infrastructure, and a selective pipeline. Notably, the company's PWSC exit yielded a 10x return, and current portfolio companies are demonstrating strong performance. Recent catalysts include the addition of respected investors David Patinkin and Josh Horowitz to the board, strategic leadership changes in the warranty segment, and the acquisition of Bud's Plumbing, led by Rob Casper, a seasoned aggregator CEO. These moves suggest a path toward becoming a self-funded, pure-play search fund company, potentially unlocking greater valuation multiples. With substantial NOLs expiring by 2029, the urgency to monetize or streamline operations further supports the bullish outlook. Recent share price appreciation reflects growing investor recognition of Kingsway's evolving business model and strategic potential. For a comprehensive analysis of another standout stock covered by the same author, we recommend reading our summary of this on Copart, Inc. (CPRT). Kingsway Financial Services Inc. (KFS) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held KFS at the end of the first quarter which was 5 in the previous quarter. While we acknowledge the potential of KFS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Sailing away from the 9-to-5: man and his cat embrace life on the open seas
Sailing away from the 9-to-5: man and his cat embrace life on the open seas

IOL News

time26-05-2025

  • IOL News

Sailing away from the 9-to-5: man and his cat embrace life on the open seas

Oliver Widger after sailing and conquering the Pacific Ocean. Image: Instagram In an age where the allure of corporate stability often overshadows the call of adventure, Oliver Widger has thrown caution to the wind, leaving behind an 11-year-long career at a tyre shop to embark on a daring sailing expedition around the world. Captured beautifully on Instagram (@sailing\_with\_phoenix), his journey recently transformed from a dream to reality when he sailed from Oregon to Hawaii – a testament to chasing dreams and defying conventional norms. Widger's decision to pursue sailing comes in the wake of a life-altering diagnosis. Three years ago, he was diagnosed with Klippel-Feil syndrome (KFS), a rare spinal disorder that leaves him with a loose spine and the potential risk of paralysis. 'That reality kind of shook up my world,' he reflected. This confrontation with his mortality ignited in him an intense desire for change, pushing him to abandon the corporate grind he had grown to despise. 'I became incredibly aware of my mortality,' he admitted candidly. In 2024, the seeds of change were sown as he quit his job 'rather abruptly, intending to sail around the world with no plan.' Without prior sailing experience, he purchased a sailboat and charted his course into the unknown. Widger's first monumental voyage, the month-long trek across the vast Pacific Ocean, culminated in a triumphant arrival in Hawaii. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ 'Dear Corporate America, I won,' he proclaimed, a phrase that captures not only his victory over his former life but also the sheer exhilaration of freedom. Widger's journey embodies the spirit of adventure and the quest for self-discovery. 'I chased a dream bigger than my fear,' he recounted, his voice imbued with pride. 'I worked until my hands bled, fought storms inside and out, and chose a life few would dare to live. I've already won because I found the courage to try.' His words resonate with anyone who has ever contemplated stepping outside the confines of their comfort zone in pursuit of a deeper, more meaningful existence. With the seas of Hawaii now behind him, the sailor and his trusty feline companion, Phoenix, are set to continue their odyssey. He plans to spend the next 30 days snorkelling. As he dreams of French Polynesia looming on their horizon, one thing remains clear: Widger is not just living a dream; he is redefining what it means to truly live.

‘Everyone is overwhelmed': Kansas Forest Service at risk of 80% funding loss, layoffs with proposed federal cuts
‘Everyone is overwhelmed': Kansas Forest Service at risk of 80% funding loss, layoffs with proposed federal cuts

Yahoo

time14-05-2025

  • Politics
  • Yahoo

‘Everyone is overwhelmed': Kansas Forest Service at risk of 80% funding loss, layoffs with proposed federal cuts

TOPEKA (KSNT) – Kansas forestry officials are sounding the alarm this week as looming federal cuts could impact their ability to fight wildfires and help support the state's green spaces. The Kansas Forest Service (KFS) issued a press release on Wednesday, May 14, calling on the state's residents to support the agency as it faces dire straits. The source of the KFS's anxiety comes from the federal Fiscal Year 2026 proposal, which contains a big change that could seriously impact some of its critical services. President Donald Trump unveiled the new 'Skinny Budget' on May 2, highlighting increased spending on defense and border security while reducing non-defense discretionary budget by $163 billion. Trump has made major pushes to reduce government spending since he retook the White House in 2025, going so far as to form the Department of Government Efficiency (DOGE). Included within it are cuts in the hundreds of millions of dollars to conservation and the U.S. Forest Service (FS). National Forest System Management – decrease of $392 million from Fiscal Year 2025. Forest Service Operations – decrease of $391 million from Fiscal Year 2025. State, Local, Tribal and NGO Conservation Programs – decrease of $303 million from Fiscal Year 2025. Forest and Rangeland Research (Except Forest Inventory and Analysis – decrease of $300 million from Fiscal Year 2025. Kansas parks shut down amid federal staffing shortage The KFS said the Trump Administration's budget proposal would eliminate all Forest Service State, Private and Tribal Forestry (SPTF) programs. These programs help the KFS with wildfire prevention, support local fire departments, assist private landowners with management of forests or windbreaks, community tree planting and care, along with habitat restoration. 'If Congress agrees to this proposal, the impact in Kansas would be detrimental. It would mean fewer resources to reduce wildfire risk, protect homes and communities, and keep our forests and woodlands healthy and productive.' KFS press release excerpt Kansas State Forester Jason Hartman told 27 News it is difficult to put an exact dollar amount on how these proposals will impact the KFS. He said that doing some comparisons to the budget from the previous fiscal year, the KFS is looking at around an 80% reduction in funding. 'Everyone is overwhelmed with the scope and changes of the proposed plan,' Hartman said. Found an arrowhead in Kansas? Archaeologist urges you to leave it alone Hartman said the KFS would have to support itself off of state funding and money it generates on its own if the Trump Administration's proposed budget takes effect. He indicated that a 75% reduction in KFS services would come as a result of the cuts, including a possible reduction in staff. The agency currently employs 42 full-time workers and 50 part-time staff. 'It wouldn't be right away that we'd have to lay people off,' Hartman said. The KFS reports the federal budget proposal would bring an end to a federal-state partnership that has been around for more than a century. Hartman said the KFS is facing cuts to various programs such as supporting landowners, forest stewardship, helping local fire departments, pest management and more that total more than $2 million in funding. Programs the KFS reports are at risk with these cuts include: Support for Kansas fire departments in the form of training, grants and equipment donation programs. Landowner assistance programs in forestry such as helping landowners access cost-share programs like the Environmental Quality Incentives Program (EQIP) and Conservation Reserve Program (CRP). Wildfire response, community wildfire protection plans and private landowner trainings on prescribed fire and fire safety. Tree City USA programs that support local trees and those who manage them. Blackout license plates available for purchase in Kansas starting on July 1, 2025 Funding and Map PDF by Matthew Self on Scribd 'It isn't just funding, it's people,' Hartman said. 'It's livelihood, it's service that we are all very committed to.' The KFS calls on Kansans to advocate on behalf of the agency in an effort to help it keep its funding and prevent it from having to make difficult decisions with cutting staff, ending projects and eliminating landowner and client support. The agency encourages people to reach out to Kansas' representatives in Congress as soon as possible. You can find more resources provided by the KFS on this issue by clicking here. How to spot and avoid poison ivy growing wild in Kansas For more Kansas news, click here. Keep up with the latest breaking news in northeast Kansas by downloading our mobile app and by signing up for our news email alerts. Sign up for our Storm Track Weather app by clicking here. Follow Matthew Self on X (Twitter): Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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