That is a nice dividend...you have to love their "Enterprise Value (9-Mar-07)3: 22.30B" Undervalued!!!:eek:
I have to laugh at this post. All you newbies probrably never even heard of MXT (Metris Company) or ACF (Americredit) before. With all your big talk about how bad these sub-primes are, do some homework and you will see its the same ole song and dance. Been there, done that. Take a walk down memory lane folks. Look at what ACF did in Early 2003. Tanked to 1.55 before recovering just fine. What is ACF at today??? 20 something? hmmm. I thought they were going BK in March 03. The chart won't even show the depth of its drop. Look at price history to really see what happened. You won't appreciate it because you weren't there in the trenches like I was. I have ridden out the storm many many many times before. I have ridden AMR, GT, TSO, MXT, and ACF back in 2003 to now so I know what its like to say "ya know what, I don't give a schitt what you or anyone else on Wall Street says, I am in and riding this out to zero or a nice profit, whichever comes first" And guess what???? I was right! They didn't go BK. Hmmm.. what happened? All the 'scary' talk scared me right into buying even more shares! Yes, I had 35,100 shares of MXT when it flatlined at 1.25/share. And, 20,000 shares of ACF when it was at 1.55/share. Guess what? I made $160,000 in 2003! and, I am happy to roll the dice with NEW, IMH, and NFI. I hope each of these tank to 1.25/share because if they do, I will have in excess of 10,000 shares of each of them. And, I won't sell them off early like I did in 2003 with MXT and ACF. I will make the 1,100,000 I should have made in 2003 in 2008. Yes, I said 2008. I know these stocks will suck wind the next 2-3 quarters, and I don't care, I love stocks that everyone else hates. I make more money buying cheap stocks and selling em back to you later. peace.
It always gets worse before it gets better, no reason to buy shares tomorrow. Let the stocks drop like a knife, and pick some up only when it's stuck in wood and not going anywhere. I applaud your nerves of steal in the face of certain loss, traderrich!
That post seemed eerily similar to a teaser message from a serial killer to police. You're on my watch list.
Rising sub-prime defaults in the news, again ... http://www.bloomberg.com/apps/news?pid=20601087&sid=aC9LdDcv4.Wc&refer=home