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Mrhoty, Syncora is a melting ice cube. In runoff, no new business. Distinct possibility that the clock will run out on Syncora. Like way too many wall street companies Susan and the board will move on eventually, with generous golden parachutes. IMO.
With daily volume so low who knows how long it will take for Legg Mason, and whomever else, to finish selling their shares. Potentially could take 5 years or more. IMO.
Denny, I do like real estate, at the right price and location. Trying to generate more income for old age. Took your advice and working and being more nimble. IMO.
Location, location, location is important in real estate investing. Will consider buying another property to rent. A sector to avoid for the foreseeable future (maybe 5 years or more) would be financials, and the bond insurers, particularly. Way too much uncertainty. IMO.
Brand, thank you. I could be waiting years. And s few of your points may never happen. Getting off pinks, who knows. Muni crises over? Who knows if/when that will ever happen. IMO.
Thanks Brand, let's hope we have found a bottom. And that the Puerto Rico mess doesn't drag on too long, also that management can somehow/someday instill some confidence for new investors. Appreciate your analysis, opinion. IMO.
Ok Brand, I'll try not to be vague or generalize. Maybe, because we are a low float stock, that explains the slow hemorrhaging of the stock price on low volume. And it maybe an opportunity. If only we could get some concrete good news from management about the NYID and getting off the pinks, but we will possibly have to wait until Puerto Rico resolved, at the earliest. Now my thinking is IF no more insured toxic policies implode, in two years the stock price will be well north of 73 cent. Thank you Brand for putting up with my rants. IMO.
Ok guys we can agree to disagree. However, after six years, maybe investors expect more progress and clarity on the future of Syncora. With the NYID still regulating, directing Syncora, hence in perpetual runoff and that Syncora may/will be a pink sheet company indefinitely, no wonder perspective investors skittish, to say the least. IMO.
Maybe that darn Master transaction agreement gives the NYID control of Syncora indefinitely or 10 years at least. Only the lawyers probably know. Will the MTA ever become public? IMO.
Denny, what's your take on the lack of volume, interest in Syncora at 72 cents. Will Syncora's management ever do something/anything that could pique investor interest? All your good DD and Syncora has been trending lower for too long. IMO.
Ok Brand, good points. Maybe worth the risk owning some Syncora. However, the behavior of the stock for too long doesn't instill confidence. I may be overly cautious, because from experience, (centerline holdings) most boards of most companies will sell out shareholders in the blink of an eye, if it benefits them. And you know my sentiment of Susan and the board of Syncora. IMO.
So brand, the potential for Syncora's clock to just run out is there. We can lanquish for years on the pinks before the runoff is done. IMO.
Brand, yes we are going around in circles. You could be right and Syncora does have value north of where it is. I still don't trust management to do right by common shareholders, and there is potentially more sellers. Could be a couple of funds that want out, but can't sell. And you are correct I am obsessing with the price, will try to curtail following Syncora, for awhile. IMO.
Brand, it's great that you believe that Syncora has value one day. I find it disconcerting that no one is interested in buying Syncora at 72 and half cents. Pink sheet companies are notorious for not disclosing important information in a timely manner, if at all. And that Syncora is a Burmuda company, potential investors rightly?need to be even more cautious. Also, whomever buys now, may not be able to sell at any price because Syncora has become too illiquid, even for a pink sheet, penny stock. IMO.
Brand, a lot of Mr. Dead Monies holding Syncora. Lack of any trading suspect. Hope a friend of mine is wrong and we are not headed to 35 cents. IMO.
Brand, thanks for the informative posts. Kinda obvious, why not to buy now. The uncertainty, lack of volume, how long it will take Legg Mason to dump the rest of their shares. It could take a long time. Likely we could be discussing the same issues a year from now. Yep, today's investor not looking three to five years from now, investors today for the most part steer clear of highly speculative, pink sheet companies. IMO.
Brand, thank you for your DD. Mr. Market appears to be saying until/if Syncora's circumstances dramatically change, now is not the time to buy and/or hold Syncora. Will have powder ready if that time arrives. IMO.
Brand, thank you for all your DD. A reality check to say the least. Explains a lot. Syncora may be a good long investment, but what Mr. Market appears to be telling us is that now is not the time for Syncora. That Syncora's present circumstances would have to dramatically change, to buy and hold now. Will keep some powder for if/when that occurs. IMO.
Thanks Brand, considering adding some at these levels. Just wish the uncertainty surrounding Syncora wasn't so prevalent. IMO.
Why hasn't any individual, or entity seen the potential value of Syncora and scoop up shares at this level? What other toxic bonds has Syncora insured? How much more in legal, other expenses? Where is the next Puerto Rico? How many shares are short Syncora? How long in runoff, controlled by NYID, and on pink sheets? Oh, these are probably some of the reasons for lack interest, investors. IMO.
That Syncora needs million dollar settlements to have the volume to spike after years in runoff, doesn't instill confidence. There was that one day where over 900 thousand shares traded hands at 1.174. Wonder if those shares were shorted? A lot of shenanigans with these pink sheet companies/stocks. IMO.
Brand, good points. However, Syncora has been in runoff for years now. Clock may run out before you know it. Residual value for commons speculative at best. Management clueless and/or don't care or can't enhance common shareholder value. If Syncora was worth more someone would have loaded the boat at these levels. IMO.
Darn right I am negative about Syncora. Funny how Corbally responded to hose, the way he did at this time. Absurd that Corbally would justify Syncora's plunge, because other issuers have gone down, and the Puerto Rico debacle. Syncora been selling off for what 16 months. His timing fishy to me. Syncora still appears to be a sham and a potential scam. IMO.
Low, finally a reality check. Only, more like someone (Leggings Mason, others?) trying to dump 400,000 not 40,000 shares. They will try not to dump too many shares at once for obvious reasons. I was also thinking at around 40 cent maybe it will entice someone to load up. But not holding my breath. IMO.
Syncora will continue to go lower. Only question is how fast. Need to understand what's happening with this industry. Big boys will continue to dump. Puerto Rico a sign of rough times ahead. Lawyers will be picking over PR's carcass for years. And of course Syncora's lawyers stand to make a bundle, again. IMO.
No dead cat bounce for Syncora. The stock mafia, completely controls Syncora and countless other companies/stocks. The 20 and 30 something's by and large are avoiding investing in Wall Street. Smart people. IMO.
Syncora and way too many stocks should be avoided at any price. With continuous illiquidity of more and more companies, even if I was to buy Syncora or countless other illiquid stocks, at say .20, trying to sell could be impossible or take forever, unless you sell as they knock the bid down lower and lower. And still you need a buyer. No buyers your stuck, indefinitely. Dead money and bagholders, has never been more appropriate. There's much more writing on the wall and the sick municipal bond market is a symptom of the big problems, that will fester and not have a good ending. Wall Street and the markets are morphing into too dangerous a place for retail investors, and ordinary Americans to have their money in. Just talking to myself, trying to avoid making mistakes. IMO.
Looks like bond insurers in deep do do. Meredith Witney's dire warnings coming true, only taking longer. Continues to be a slow motion train wreak. What's annoying is that the politicians will allow muni bonds and the whole industry to get crushed, but they bail out the banks. Unfortunately, Puerto Rico potentially a harbinger of dark days ahead. Lawyers, and politics at their worst. IMO.
Short AMBC and all bond insurers. IMO.
Short MBI on any rebound and all bond insurers. IMO.
Short Xl and all bond insurers. IMO.
Short AGO and all the bond insurers. IMO.
Brand, I don't usually day trade, or flip after a few days. I did with Ugaz, and nbg. Did OK. To clarify I give up on Syncora for the foreseeable future. However, IF volume spikes, and is sustained, I would potentially load up. I have cash that I am looking to invest. May buy another rental property. Just sold one. Like Denny says stay nimble, like that. GLTA, IMO.
NBG and UGAZ, good volume, good penny stock plays. Given up on Syncora, something fishy for sure, and/or Legg, others, know something and trying to dump at whatever price they can get. IMO.
Rock, thank you very much. You explained in one sentence what I couldn't. What I fear most is ALL the bond insurers value being deflated like a bloon with a slow leak. Have a great weekend. IMO.
Rock, thank you for the reply. I am just a doom and gloom guy, and I will try and stop. Happy fourth to all. IMO.
The name of Stockman's article is "The black swan circling Puerto Rico." IMO.
Read David Stockman's, Contra Corner, he says bond insurers have too many toxic derivatives. Good article, explains a lot. Duh, who knew/knows. IMO.
Syncora provides 7 million bridge loan to PREPA, per bond buyer. How does NYID allow Syncora to issue a loan? IMO.
Lincoln, no goal and I don't get paid to post. It is suspicious that posters on the board continue to, by and large, to just keep posting, emphasizing positives about Syncora, without bringing up negative scenarios. Another negative is that many retail investors own a lots of shares and it is more likely now, that any price recovery will see some of those retail investors, exit or lighten the load. I predicted that Syncora would go under a buck and the lack of volume today. Peace man. IMO.