Hysterical, yet so true . My Fave- So right after the Bear Stearns funds blew up, I had a thought: This is what happens when you lend money to poor people. Don’t get me wrong: I have nothing personally against the poor. To my knowledge, I have nothing personally to do with the poor at …
Tagged: SubPrime Lenders
Caveat Emptor…Countrywide Financial
Great article today by Brett Arends at TheStreet . Best part: An observation: Back in March, when the market first started panicking about the mortgage slump, Countrywide stock was still trading around $35. I wrote in this space about the fact that Mozilo and other insiders were shoveling stock out the door on an heroic …
Financials – NO! OY! YUCK! ZOINK!
Wow – what a mess. It’s like an airplane urinal after a coast to coast flight. Today, we got the first ‘give up’ an admission that a lender just can’t make it. I love their name – American Home Lenders (AHM). They sure lent. Like I always quote from Seinfeld – ‘You know how to …
San Jose for the day….AND – ADOBE is poised
Come by and visit Wallstrip – Adam, Eddie and I will be yapping Wallstrip from 1-30 to 3-30 t the San Jose Convention Center from Jeff Pulver’s Network2.tv booth. Looks like a good day for some of Wallstrip’s tech stocks. Apple launches their TV, Nuance climbs above 15 and Adobe is nipping at all-time highs. …
Fremont (FMT) – I would rather be lucky than good.
It’s a sweet day to be long Subprime. I am . Fremont gets a big swatch of money and is now $9 pre market. I suspected New Century (NEW) would be the sacrifice and it is looking more like this now. I am not interested in seeing who all got sold out and/or panicked off …
Give it to me Fremont
Booking a quick 20 percent gain on Fremont here at $7.50 and will let the other half ride now. Easily double digits if the news subsides for a few days. Eagerly checking my sources to see if Fremont has ability to do some loans they have in the pipeline. If so, I will sell the …
The Subprime Blame Game
We are all Subprime borrowers at some level of debt. Just ask Suze Orman :) . We have ourselves to blame first and foremost for the mess. Two years ago, I realized I was stressed about our big house. It was not so much the payment, it was the other monthly crap. The house owned …
SubPrimealicious for the SHORTS and New Century is 'A New Kind of Blue Chip'
Oh my. Again. Today Accredited (more like Discredited) Lenders (LEND) is down another 70 percent. The dips are a black hole. Tom Brown is changing the name of his fund to S.O.S. Capital. That said, it is a typical Wall Street joke at this point and chaos has taken over. I am severley tempted engorge …
SubZERO for SubPrime
Oh my. New Century (NEW) is done and that was a given when it hit $5 a week ago and lot’s of people including me called that (Stock was $60 a year ago) Tom Brown is a big boy but he is being shellacked here and he is not the only one. Today they took …
Conviction…The Good, The Bad and the Ugly
The Subprime market is the latest area of the market where losers and geniuses are being crowned . The overall lesson…..Much easier to have conviction with other people’s money :) .