Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Have you re run this analysis lately? And for Fannie?
Any change to your opinion on this case after brooks sentencing?
Interesting price action last few days. Anyone see any news?
Any news today or further delay?
Anyone see anything on pacer? Volume picking up recently
Let me say this another way. Anyone have a thought on why the weakness in prefs when common so strong. ?
Just trying to understand weakness is prefs when commons are ripping. You have thoughts?
Is this move in commons and unwind of pref vs common. Would explain weakness in prefs
This selling is joke. Buy this dip on low volume
Any idea what's happening at the conference? Decent volume so far
You can all thank me for my purchase at .45 to make my pa look better. Irrational I know but it felt right and the may 15 date made it easier
But I think that is the selling which has put a short term cap on upside. Now we wait for the next catalyst
Just read a letter from a fund which was very early buying in the 50c range. They still like the risk reward but are selling a little becuae the position got too big. I
FYI. If market, aka hedge fund which we now know are Paulson, Claren Road, Silver Point, Owl Creek, and others are looking, thought New FHFA appointee would hurt chances these wouldn have dropped a lot more.
Jared
Good to see you here. Remember you from dimeq. Are you invested? Interesting potential here
How are you feeling about pbsoq these days?
If that were true why aren't distressed hedge funds buying as much common as possible?
My guess is that they don't see a recovery for the commons or the probability is significantly lower than it is for prefs
Unless there is a powerful contingent if equity holders fighting the prefs will do all they can to extinguish commons in order to ensure a full recovery
Everyone on this board should read zandi's piece from 2011 called the future of mortgage finance. He lays out a strong case for a hybrid or private market solution. Worth the time and easy to find on google.
The fact remains he alone will not be able to solve this issue.
At least it shows the administration is focused on finding a permanent solution to our mortgage finance issues.
Ou think he makes 500k per year? Probably more like $5 million.
Zandi?
Except they are probably not hedging 1 to 1 so any positive for common should be positive for pref. they are giving up some upside in order to materially hedge their downside.
Distressed funds look for the fulcrum security that is the highest in the capital structure why still exhibits the most asymmetric return profile.
Common is a lotto ticket. The market is pricing a 20% plus probability of a recovery for prefs. Also, did you read Millstein and Co op-Ed? Did he talk about commons? No, he owns prefs.
Please elaborate. First, who is setting up a trap? Second, what is the purpose?
Volume in prefs is considerable and I know of several large $5 billion plus hedge funds who are in them.
Why would there be a shakeup? Common is likely worthless and so is a good hedge to pref.
Looks like another delay.
Buyers coming out of the woodwork.
Thank you. I dont have direct messages
Anyone have details on the Brooks hearing?
No. I had reduced my position a lot in the 40s on the extension to April. It's now in the same range as where I first bought and the risk reward is at a better level than it has been for several months.
I don't have premium so no pm for me. I just added to my position. Seemed liked lots I activity after Rodney's post but now nothing
Just checked PACER on 12/17/2012 the following was filed.
extended time period to March 2013.
The Court has entered the Order approving the Fourth Motion of
Chapter 7 Trustee Pursuant to 11 U.S.C. Section 365(d)(1) For
Extension of Time Period Within Which The Chapter 7 Trustee
May Assume or Reject Executory Contracts and Unexpired Leases
of Personal Property will be filed. No hearing is necessary.
Made my first purchase of pbsoq since 2011.
Good point. I was about to hit the ask at .28 and someone beat me to it. Maybe tomorrow. Risk reward back to being very interesting especially versus more liquid stocks that will get whipped around by fiscal cliff noise
Who is the seller? No reason for buyers to step in given the continued court delays. Probably not a bad level to add. I'm now underwater on purchases from march 2011. Talk about dead money. Should have sold it in 2011 on spike to .8 and never looked back. Same with dimeq!
Makes sense. I have it my options acct now. Picked up a bunch around 2.5c so I was thinking about trimming half
Whoever is selling how found a willing buyer at 40c. One of them is wrong. I still contend is quarter end bs but nothing wrong with paranoia. Anyone here following evergreen energy after Rodney Mcfaddens post?
My only thought was hedge find raising money for redemption or rebalancing
Good call on this one.