Traderich, Out of curiosity, why are you so adamant in your defense of these companies? These guys are real losers. There are bargains and then there are suicide missions. Guess which one this is...
Oh come on Junior...Traderich has ten times the credibility you have...give us a break with your blathering.
mortgage/appraisal fraud is much more prevalent than people realize...that plus excessive speculation is what is gonna bring alot of these lenders down
Well, gee whiz blast. You got me there. Of course, traderich was making the case for NEW at 5.25. Moreover, if you find his case for buying NEW, NFI and friends compelling, then I imagine that your credibility matches that of a brain damaged donkey. JMHO.
NEW just hit the SHO list. Count on it. They don't guess. By naked shorting the stock, which is probably impossible to borrow, they turbo charge the race to zero, and make more illegal profits.
If you're didn't understand his point it's clear that you're a frosh and not a soph...your idiocy runs deep. Your parents are wasting their money on your tuition it seems.
Instead of talking schitt, why don't you back up what your view is with solid facts. Here is one example of many more I can bring up. I was trading GM back when the same old BK crap was out there. And guess what...same as usual...where did the BK go? Listen folks, If you don't have the balls to back up your beliefs with cash then S.T.F.U. Stocks Fall on GM Bankruptcy Worries Thursday, October 27, 2005 E-MAIL STORY PRINTER FRIENDLY VERSION DETROIT â Stocks fell Thursday on concerns over General Motors Corp. (GM) financial health, though earnings growth from oil giants Exxon Mobil Corp. (XOM) and Royal Dutch Shell may limit the decline. The Dow Jones industrial average was down 13.13 points, while the S&P 500 was off 0.51 point and the Nasdaq down 4.78 points. On Wednesday, the Dow industrials slipped 33 points at 10,344, the S&P 500 fell 5.2 points at 1,191 and the Nasdaq Composite was off 9.4 points at 2,100. General Motors said late Wednesday it received subpoenas from the Securities Exchange Commission (search) as part of an agency investigation of the carmaker's pension obligations and business dealings with bankrupt Delphi Corp. The announcement added to existing jitters in the market about the state of GM's health, and prompted the automaker to deny talk that it's going to file for Chapter 11 (search) bankruptcy protection.
GM Bankruptcy Said Possible By Dena Aubin 12-12-5 NEW YORK (Reuters) - A bankruptcy by General Motors Corp. is not "far-fetched" if present trends at the company persist, Standard & Poor's said on Monday, shortly after cutting GM's ratings deeper into junk territory. The downgrade and S&P's comments initially sent GM shares and bonds lower as investors fretted about the rising risk that the world's largest automaker will have trouble paying back all of its debt. "In the past we might have felt at different points that the concerns about bankruptcy risk were way overplayed," said Scott Sprinzen, speaking on a conference call with reporters and analysts. "At this juncture, it's our conclusion that this isn't a far-fetched possibility if the kind of deterioration in results we've seen over the last few quarters should continue," Sprinzen said. GM spokeswoman Gina Proia said the automaker has no strategy or intention to declare bankruptcy. "GM has an aggressive and well thought-out strategy to turn around our North American business and we're making progress in some important areas," she said. S&P cut GM's corporate credit rating by two notches to "B," five steps below investment grade, from "BB-minus." The outlook is negative, meaning the rating is likely to be lowered again over the next two years. S&P's rating on GM is the lowest of the three major rating agencies. GM has lost nearly $4 billion this year as it battles high health care and commodity costs, eroding U.S. market share and slumping sales of its once-profitable sport utility vehicles. Consolidated debt outstanding was $285 billion on September 30, S&P said. "The changes that will have to occur to turn this company around to cause it to be a profitable auto manufacturer are huge," said Dan Zaldivar, fixed income analyst at RBC Capital Markets in Chicago. "This is a very big ship and it turns very, very slowly." Ratings on GM's finance arm, General Motors Acceptance Corp., were not changed but remain on review with "developing" implications, meaning the direction of the rating is uncertain. The developing status reflects the possibility that GM may sell a controlling stake in GMAC to a highly rated financial institution, S&P said. "This year has witnessed a stunning collapse of GM's financial performance compared with 2004 and initial expectations for 2005," S&P said. Net losses at North American operations could reach $5 billion for the year, even before substantial impairment and restructuring charges, the rating agency said. An industrywide falloff in demand for sport utility vehicles makes it doubtful that GM's new models can help restore its North American operations to profitability, S&P added. S&P's downgrade came on the same day that bids were due to buy a controlling stake of GMAC as GM tries to restore the unit's investment-grade ratings. Borrowing costs at GM and its financial unit have soared since they were first cut to junk in May. GM's bonds with an 8.375 percent coupon due in 2033 fell to 71.1 cents on the dollar from 73.25 cents on Friday, according to MarketAxess. In after hours trading, its shares fell 31 cents to $22.74 on Inet from a close of $23.05 on the New York Stock Exchange. © Reuters 2005. All Rights Reserved.
You know what is funny? I am telling everyone EXACTLY what I am buying and why, right here, right now. The blasters on here just say yea yea yea, but don't have the guts to say what any of their positions are right here and right now. I am long NEW, NFI, IMH, and DRL. In one year from now, these 4 stocks combined will be worth at least double what they are at right now. Mark it down, mark my words. Funny thing is though, that none of you will remember this, but I will. I am going to save this post so I can have some fun later on. BK is sooooooo scary! boooh hooo! I am so scared.