Has Buffett himself really said hat or is it just a rumor?
This really is an ideal time for a guy like Buffett (sitting on $52 billion in cash) to sweep in and buy distressed companies.
When I bought BRKB stock I figured I need not look at it like other companies (it was definitely a lifetime purchase until he and Munger croak). He must be licking his chops at this situation.
CCourt I would also stay away from shorting CFC for the reasons you stated.
Has Buffett himself really said hat or is it just a rumor?
This really is an ideal time for a guy like Buffett (sitting on $52 billion in cash) to sweep in and buy distressed companies.
When I bought BRKB stock I figured I need not look at it like other companies (it was definitely a lifetime purchase until he and Munger croak). He must be licking his chops at this situation.
CCourt I would also stay away from shorting CFC for the reasons you stated.
I'm not saying you're lying, but the WSJ starting this rumor is pure bull-crap.
Look it......the short interest in CCF is off the charts.....the WSJ or any other publication (Barron's) will do anything and say anything to start a squeeze.
This rumor made CCF move a whopping 2 points today.....exactly why it's false.
Now if Buffett himself comes out and refutes this, then CCF goes down the shitter.
I'm seriously thinking about growing a pair and shorting this bozo company if it gets up around 30ish on these rumors.
Lies.
I'm not saying you're lying, but the WSJ starting this rumor is pure bull-crap.
Look it......the short interest in CCF is off the charts.....the WSJ or any other publication (Barron's) will do anything and say anything to start a squeeze.
This rumor made CCF move a whopping 2 points today.....exactly why it's false.
Now if Buffett himself comes out and refutes this, then CCF goes down the shitter.
I'm seriously thinking about growing a pair and shorting this bozo company if it gets up around 30ish on these rumors.
From what I read and heard (listened to CNBS on XM traveling all day today)
He wants to buy PARTS of the operations and he wont pay a premium..that means either CFC is going to shed a ton of themselves to pay down debt or they are going to BK or the deal isnt happening.
Know one thing for sure, Buffet isnt going to pay any premium and anything that happens wont be a positive for the stock..translation he isnt buying shares of the common..
JMHO
From what I read and heard (listened to CNBS on XM traveling all day today)
He wants to buy PARTS of the operations and he wont pay a premium..that means either CFC is going to shed a ton of themselves to pay down debt or they are going to BK or the deal isnt happening.
Know one thing for sure, Buffet isnt going to pay any premium and anything that happens wont be a positive for the stock..translation he isnt buying shares of the common..
Factor out the sale of the vessels and they beat by 20 cents which was still pretty good.
I dont trust that company..last year when I was considering it I read some articles that discussed how it is so closely held and the numbers were probably manipulated..
That said it probably goes to 100 what do I know??
lol
Jeff,
Factor out the sale of the vessels and they beat by 20 cents which was still pretty good.
I dont trust that company..last year when I was considering it I read some articles that discussed how it is so closely held and the numbers were probably manipulated..
That said it probably goes to 100 what do I know??
I know that ever since this panic started my BRKB shares have benefited. The idea that Buffett would prop anything up is weird, in that he is more a vulture than a savior, and I mean that in the kindest way.Whenever there is a fire sale he is there in the back waving money, but at 10 cents on the dollar.
I know that ever since this panic started my BRKB shares have benefited. The idea that Buffett would prop anything up is weird, in that he is more a vulture than a savior, and I mean that in the kindest way.Whenever there is a fire sale he is there in the back waving money, but at 10 cents on the dollar.
SAN DIEGO (AP) -- Accredited Home Lenders Holding Co. plans to shut
down most of its business to survive the troubles in the home lending
industry, the company said Wednesday.
Accredited Home Lenders said it
will cut its work force to 1,000 people -- from 2,600 at the end of
June -- and close 65 branches. The company will immediately stop
accepting applications for home loans in the U.S., though it will honor
the loans it has already committed to finance.
The company will close its retail lending business, which issues
home loans directly to consumers. Accredited is also scaling back much
of its wholesale lending division, which issues mortgages through
brokers. The company will close five of its 10 brokered loan offices
and lay off about three-fifths of the unit's workers.
next in line at Window 11 - LEND
SAN DIEGO (AP) -- Accredited Home Lenders Holding Co. plans to shut
down most of its business to survive the troubles in the home lending
industry, the company said Wednesday.
Accredited Home Lenders said it
will cut its work force to 1,000 people -- from 2,600 at the end of
June -- and close 65 branches. The company will immediately stop
accepting applications for home loans in the U.S., though it will honor
the loans it has already committed to finance.
The company will close its retail lending business, which issues
home loans directly to consumers. Accredited is also scaling back much
of its wholesale lending division, which issues mortgages through
brokers. The company will close five of its 10 brokered loan offices
and lay off about three-fifths of the unit's workers.
I am in the market for a house myself, but I am not going to rush into it. I sold my last place about a year and a half ago right before the market starting going into this nose dive. I work(ed) for a mortgage broker so I've had my finger on the pulse of this housing market for sometime now. What i am going to do is wait for the housing market to hit the ceiling (i still think we are 3-6 months away but the affects should linger for a while) and then start pushing hard for a new property. California will be the goldmine for investors with capital. Once again it's just not sub-prime banks that are going to get hit hard....A-paper lenders will be affected.There is a reason why they keep changing their lending guidelines and they don't lower the interest rates when the bond market calls for it. here is a good site to check once a twice a week to see what lenders have imploded....
the link for mortgage imploder.....above (great site)
GreenPoint wholesale has closed their doors!!!!
Quote Originally Posted by jthollywood:
Koaj,
I am in the market for a house myself, but I am not going to rush into it. I sold my last place about a year and a half ago right before the market starting going into this nose dive. I work(ed) for a mortgage broker so I've had my finger on the pulse of this housing market for sometime now. What i am going to do is wait for the housing market to hit the ceiling (i still think we are 3-6 months away but the affects should linger for a while) and then start pushing hard for a new property. California will be the goldmine for investors with capital. Once again it's just not sub-prime banks that are going to get hit hard....A-paper lenders will be affected.There is a reason why they keep changing their lending guidelines and they don't lower the interest rates when the bond market calls for it. here is a good site to check once a twice a week to see what lenders have imploded....
and they will still make more than the WNBA... ZING!
Yes, especially when all the top players in the WNBA are talking about playing in Europe because they can make 3x what they are currently making......sell the wnba, sell,sell,sell,sell!!!!!
Quote Originally Posted by Gunners:
and they will still make more than the WNBA... ZING!
Yes, especially when all the top players in the WNBA are talking about playing in Europe because they can make 3x what they are currently making......sell the wnba, sell,sell,sell,sell!!!!!
My VERY humble opinion is this implosion is an over reaction..this storm will pass and people still need mortgages..just the cost of risk needs to go up and due diligence needs to improve.
LEH is all over the board
3 pt turn here and there and everywhere.
My VERY humble opinion is this implosion is an over reaction..this storm will pass and people still need mortgages..just the cost of risk needs to go up and due diligence needs to improve.
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