MBIA Inc (MBI)

[Komando Robot]

I use to margin up to $80,000 all in one play. Make quick $1,800 in 30 minutes and go hang out with my friends in my bmw. That was my life @ 18 yrs old. I was so reckless lol

[BlackThought]

i use margin with tight stops. i realized i bought at resistance today. stupid move. gotta be more patient with my entry/exit.

[Komando Robot]

Its for the big money players

[BlackThought]

very nice. i kinda like these bigboards a lot more.

[Komando Robot]

lol im all over the place



i just got a buddy $22k worth of DDSS @ 2.20 avg about

[BlackThought]

i see u everywhere liquid LOL. even on the big boards

[Komando Robot]

haha yeah i will never forget this stock

[BlackThought]

check out the charts on it. it was a perfect bounce off the 31.8% fibonnaci. i would've been able to snag some 4.80s if i knew earlier. lol

[Komando Robot]

I lost like $7,000 in 30 minutes lol

[BlackThought]

i just got stopped out at 5.13, lost $170 in 30 minutes lol

[Komando Robot]

Self employed right now looking for other work though. I have my money invested into DNNC right now. 0052

[BlackThought]

do you have a job or do you trade full time?

[Komando Robot]

$50k debt freakn sucks. oh well whatever everything happens for a reason I guess. Wish I could of just held on though. I bet this will be over $10 again with 6 months

[BlackThought]

i know what u mean. i blew my account in 2007 within my first 7 months of trading.

[Komando Robot]

yup, i was 18 and reckless. wish i had that money now with all that i learned and the connections i have now. id probably be @ $500k

[BlackThought]

u had 100k in it? jesus..

[Komando Robot]

Yeah, I was 18 yrs old. bought on Margin @ $6.45 dropped to 3.00 Scottrade kept calling me saying they will sell it. Ended up selling @ 2.75 the rest wend down hill from there.

[BlackThought]

o shit.

[Komando Robot]

This is the stock I lost my $50,000 loan on.

[BlackThought]

MBI rocking it.

[Komando Robot]

This reminds me of ABK

[mlkrborn]

CORRECT: UPDATE: MBIA Seeks To Exclude Coverage Of More Mortgages: CFO

("UPDATE: MBIA Seeks To Exclude Coverage Of More Mortgages: CFO," published at 12 p.m. EST, misstated when MBIA loaned $2 billion to its asset/liability business. A corrected version follows.)


By Lavonne Kuykendall
Of DOW JONES NEWSWIRES


With no end in sight to losses in MBIA Inc.'s (MBI) business of insuring securities backed by mortgages, the company is increasing its efforts to get lenders to make good on loans it says should be excluded from coverage.

MBIA said during an earnings conference call Tuesday morning it is owed more than $1.2 billion on its second-mortgage coverage alone, which could ease some financial stress - if it can collect the money.

Investors weren't impressed, though, and bid down MBIA's share price by 18.8% recently, to $3.90, after MBIA reported a third-quarter loss of $727.8 million, or $3.50 a share, after the close of trading Monday.

"We are not out of the woods at this point," C. Edward Chaplin, MBIA's president and chief financial officer, said during the call. "But at least we have a better appreciation of the total area of the woods that we are in."

Since the end of 2007, MBIA has paid out $4.4 billion on its portfolio of insured second mortgage-backed securities and credit default swap contracts on collateralized debt obligations, or CDOs.

MBIA is also seeing stress in its business of managing investments for customers. In the fourth quarter of 2008, MBIA made a $2 billion loan to its asset/liability management business, which issues debt and investment agreements to capital markets and municipal investors. At the end of September, its asset/liability segment held about $1.4 billion in mortgage-backed securities in its $7.3 billion portfolio.

The company said it would owe more in claims than previously expected on its troubled portfolio of second-lien mortgages and said it had transferred servicing of approximately $3.7 billion of troubled loans to a new servicer in hopes of improving the loans' performance.

In addition, it's redoubling its efforts to examine individual loans for those that don't belong in the securities and is pressing the lenders to replace the loans or reimburse MBIA, Chaplin said.

So far, MBIA has identified around $1.2 billion in second-mortgage loans that it wants lenders to replace and expects its ultimate recovery to be "very much greater," Chaplin said. The company could be in for a fight, as lenders have not readily agreed to make good on the loans. Chaplin estimated it could take two or three years to play out, but that the lenders have the funds to cover the loans MBIA has identified so far.

One analyst wasn't reassured.

"Though the company has sizable statutory capital on an absolute basis, it's still way too early to predict whether it will be sufficient to outlast claims, primarily those that insured residential first and second mortgages in the structured finance division," said Jim Ryan, an analyst with Morningstar Inc. in a Tuesday note.

-By Lavonne Kuykendall, Dow Jones Newswires; [phone]; [e-mail]

[mlkrborn]

$3.90 NOW!
UPDATE: MBIA: 3Q Loss A Reminder Of Recession's Impact

(Updates with statement for company official, stock price, comment and background)


By Lavonne Kuykendall and Kathy Shwiff
Of DOW JONES NEWSWIRES


MBIA Inc.'s (MBI) third-quarter loss narrowed slightly as the housing downturn continued to weigh on its business of insuring securities backed by mortgage loans.

Shares sank 15.6% to $4.05 in after-hours trading as the bond insurer posted its fifth quarterly loss in the past two years. The stock has lost almost half its value from its 52-week high in September.

In late September, Standard & Poor's Ratings Service cut MBIA's rating to junk status. The company is writing almost no new business after forming National Public Finance Guarantee Corp. earlier this year to hold its public finance business. "Incurred losses in our insurance business were above expectations," said Chuck Chaplin, MBIA's president and chief financial officer, in a press release. "The third quarter's loss is a reminder that the impact of this recession continues to be felt throughout the economy."

For the latest quarter, MBIA reported a loss of $727.8 million, or $3.50 a share, compared with a year-earlier loss of $806.5 million, or $3.42 a share. The latest results included an $810.2 million pretax unrealized loss on insured credit derivatives, $238.8 million in pretax loss and loss adjustment expenses related to second-lien mortgage loan securitizations, and $171.4 million in pre-tax realized losses and other-than-temporary impairments on investments.

MBIA paid $638.4 million in claims in the third quarter.

Ambac Financial Group Inc. (ABK), the second-largest U.S. bond insurer, last week swung to a third-quarter profit, but analysts said its bond-insurance business is in danger of falling below legally required capital levels.

Rob Haines of CreditSights Inc. said that overall, MBIA has been performing much better than rival Ambac.

To Haines, statutory capital levels "are the more important factor at this time," he said in an email. He called it "curious" that MBIA has performed so much better than Ambac.

Both insurers have been embroiled in efforts to get lenders to replace bad loans that were bundled into insured securities, but so far, both MBIA and Ambac have had trouble getting repaid on loans that they identify as ineligible.

In the second quarter, MBIA said it expected to recover $1.1 billion from ineligible mortgages in some insured second mortgage-backed securities it insured. MBIA said it found a further $75.6 million in bad loans in the third quarter and expects to find even more.

MBIA said that 16 insured credit derivatives transactions representing $11.7 billion in net exposure either matured or were terminated without payments by MBIA.

After the end of the quarter, MBIA said it negotiated terminations of two more insured credit derivatives transactions that resulted in the elimination of $1.2 billion in exposure for a one-time payment of $93.8 million net of reinsurance, which MBIA said was less than the impairment it had already taken on the transactions.

It also terminated a financial guarantee on $839.9 million of exposure for a payment of $65.3 million. MBIA said it had not previously taken any impairment on that transaction.

-By Lavonne Kuykendall and Kathy Shwiff, Dow Jones Newswires; [phone]; [e-mail]

[mlkrborn]

MBIA 3Q Loss Narrows; Insurance Losses Bigger Than Expected
Date : 11/09/2009 @ 5:13PM
Source : Dow Jones News
Stock : MBIA Inc. (MBI)
Quote : 4.8 0.45 (10.34%) @ 5:12PM




MBIA 3Q Loss Narrows; Insurance Losses Bigger Than Expected

DOW JONES NEWSWIRES


MBIA Inc.'s (MBI) third-quarter loss narrowed slightly as losses in the insurance business were greater than expected and the housing downturn continued to cause asset losses.

Shares sank 14% to $4.14 in after-hours trading as the bond insurer posted its fifth quarterly loss in the past two years. The stock has lost almost half its value from its 52-week high in September.

In late September, Standard & Poor's Ratings Service cut MBIA's rating to junk status. The company is writing almost no new business, after forming National Public Finance Guarantee Corp. earlier this year to hold its public finance business.

Ambac Financial Group Inc. (ABK), the second-largest U.S. bond insurer, last week swung to a third-quarter profit, but analysts said its bond-insurance business is in danger of falling below legally required capital levels.

For the latest quarter, MBIA reported a loss of $727.8 million, or $3.50 a share, compared with a year-earlier loss of $806.5 million, or $3.42 a share. The latest results included an $810.2 million pretax unrealized loss on insured credit derivatives, $238.8 million in pretax loss and loss adjustment expenses related to second-lien mortgage loan securitizations, and $171.4 million in pre-tax realized losses and other-than-temporary impairments on investments.

MBIA paid $638.4 million in claims in the third quarter.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; [e-mail]

[IPO$]

I am looking at selling Oct $6 puts for 22 cents.....any ideas?

[IPO$]

what does MBI do?

[Homelands]

Very Interesting here...

GLTA

[Q_uestion]

...anyone here?

[Homelands]

May Buy Back At 4.50 to 4.75...

If it comes back...

GLTA...

[Homelands]

Just Sold...

GLTA...

[fastlizzy]

Yeah, I did a nice scalp on it yesterday....just watchin today.

[mlkrborn]

Pulled back fast. $5,00s. it must have been shorties' screwing..

[fastlizzy]

Oops, guess I'm talkin to myself here! LOL

[fastlizzy]

Wow on earnings.....almost $9 in AH at one point...

ARMONK, N.Y., May 11, 2009 (BUSINESS WIRE) -- --As of March 31, 2009, MBIA Inc.'s Book Value per share and Adjusted Book Value (ABV) per share, a non-GAAP measure, were $7.76 and $37.61, respectively, compared with $4.78 and $40.06, respectively, at December 31, 2008.

--The Company recorded net income available to common shareholders of $696.7 million, or $3.34 per share, for the first quarter of 2009, compared with a net loss of $2.4 billion, or $12.92 per share, for the first quarter of 2008. Net income in the first quarter of 2009 was primarily driven by $1.6 billion in pre-tax unrealized net gains (mark-to-market) on insured credit derivatives.

--The Company's first quarter results include $693.7 million in pre-tax loss and loss adjustment expenses on insured exposures, primarily on second-lien mortgage exposures and $169.0 million in pre-tax realized losses in the Company's Asset-Liability Management (ALM) asset portfolio reflecting the continued deterioration and stress in the credit markets.

--The Company's balance sheet liquidity continues to be strong, with ample resources to meet all expected obligations. MBIA Insurance Corporation (MBIA Corp.), which comprises the structured finance and international public finance businesses, had $1.5 billion of cash and short-term investments available to support its liquidity needs and $8.0 billion of claims-paying resources as of March 31, 2009. The Company believes that the ALM business has sufficient cash and short-term investments to meet all terminable liabilities, irrespective of any ratings actions. The Corporate segment had $430 million in cash and highly liquid assets, compared with approximately $260 million in cash required for debt service and operating expenses through year-end 2010.

--During the first quarter of 2009, the Company established a separate U.S. public finance financial guarantee insurance company, National Public Finance Guarantee Corporation (National), within the MBIA Inc. group by separating its domestic public finance business from the remaining insured portfolio of its principal insurance subsidiary, MBIA Corp. (the Transformation).

MBIA Inc. (NYSE: MBI) today reported Adjusted Book Value (ABV) per share, a non-GAAP measure, of $37.61 as of March 31, 2009 compared with $40.06 at December 31, 2008. The decline in ABV per share during the quarter was caused by loss and loss adjustment expenses on insured exposures, impairments to insured credit derivatives, realized losses in the Company's ALM asset portfolio and a reduction in expected future income from projected spread in the ALM business. The effect of the adoption of FAS 163 on January 1, 2009 increased ABV by $1.05 per share, primarily as a result of the elimination of unallocated reserves and the use of a risk-free rate for discounting future installment premiums.

[mlkrborn]

Whole insurance sector came down today! $2.50

[mlkrborn]

callie
thnx

[Alyssa]

I don’t think so. It’s my understanding that they simply re-named the MBI Illinois division and transferred their $537 billion bond portfolio to this new entity, such that National Public Finance Guaranty Corp. will be a separate corporation, but still a subsidiary of MBI.

[mlkrborn]

CALLIE
Is this new entity to be a new IPO or what?
tia

[Alyssa]

Yes indeed. Jay Brown is a smart guy, making smart moves under strange, unprecedented circumstances. Mr. Freaky-Jittery Market seems to like it too!

;)

[mlkrborn]

Very good news; Following ABK..

[Alyssa]

MBIA creates separate public finance bond insurance company 7:25 AM ET 2/18/09 | Marketwatch

NEW YORK (MarketWatch) -- MBIA Inc. said Wednesday it is creating a new public-finance financial guarantee insurance company through a restructuring of its main insurance subsidiary, MBIA Insurance Corp. Under the move, MBIA Insurance Corp. of Illinois will be renamed National Public Finance Guarantee Corporation, which MBIA Chief Executive Jay Brown said will be "dedicated exclusively to the U.S. public finance market." As part of the deal, MBIA Corp. has ceded to the National entity all of MBIA Corp.'s U.S. public finance business and paid to National approximately $2.89 billion as a premium to reinsure the policies covered by the reinsurance and assignment agreements, with MBIA Corp. receiving a 22% "ceding commission" on the unearned premium reserve. In a letter released with the announcement, CEO Brown said new unit is not part of a "good bank/bad bank split" and will be capitalized above the level required for a AAA credit rating. He added: "While some market participants have chosen to focus on our recent downgrades and have suggested that our prospects were nonexistent, that could not be further from the truth. Our embedded adjusted book value is still over $40 per share."

[hang ten]

Chairman/CEO J Brown has been accumulating a lot of shares recently:
http://www.secform4.com/insider-trading/814585.htm

[skudaddy]

True

[~WAVE~]

Happens to the best of us

[skudaddy]

How did i miss this one? complete no brainer looking at the chart...damn

[~WAVE~]

MBI Chart: ($4.50)

[~WAVE~]

Looks like the shorts didn't get what they wanted then.

According to ShortSqueeze.com:

Short Interest (Shares Short) 47,022,300
Days To Cover (Short Interest Ratio) 7.0
Short Percent of Float 24.22 %
Short Interest - Prior 48,371,800
Short % Increase / Decrease -2.79 %
Short Squeeze Ranking™ -133

Shorting went down today, that's a good sign. Not much, but it is a start for a gain upwards. The chart looks good here, and if this keeps up we have a wonderful short squeeze.

[eye_ater]

I think anywhere around the $4 area with MBI would be good for the long term.

[eye_ater]

Yep AGO is a good one. Good channel between 10 & 15.

[~WAVE~]

While the shorts are in full supply, the chart is beginning its turn upwards. Right now the STO's are basing out, and looking for the upwards curl.

Then the MACD's(5,10,15) and (12,26,9) should follow suit.