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A lot of value here!
Happy New Year to all! Looking for $5 this year!!!
Any guess on how much? $30 to $50 mill?
Just watching the paint dry!
How much more will they make on the investment portfolio with increasing interest rates.
That was a big buy! Surprise there is that much floating around...
Snowflake cover his shorts!
What if the sell all the insurance policies.
It was a good day! Does anyone have a feel for value benefit from combining the companies?
What happened at the end of the day? 600,000 shares trade...
It would take a lot of resources to insure bonds. Staffing, credit rating etc. Also many muni's sell without insurance.
Thank you WOW for the post! Nice way to end the week!
Nope! Longer time holder since $.21 a share! Looking forward to October!
Snowflake! Interest rates going up! Calculate how much more you make for each 1% on a billion.
Anyone want to see this move? I can buy 5 shares!
I sold a little and it was sucked right up. In the old days the order use to sit... strange.
They have no use for the stock holders... The policies are paying off. They have better claims paying resources than MBIA.
Net Par Syncora Guarantee 1,437
Net Par Syncora Capital 622
Total 2,059
Net Par SG $9,416
Net Par SC $27,256
Total $36,672
SC Leverage ratio in 6 months has dropped from 49 to 43.8 in 6 months.
Interesting to hear Mbia portfolio was shrinking so fast.
U.S. regulators approve offshore gas project in Puerto Rico
?in General Energy News ?30/07/2015
offshore_oil_and_gas_field_West_Shetland
The Federal Energy Regulatory Commission, or FERC, has authorized the development of the Aguirre Offshore GasPort, a floating terminal that will process liquefied natural gas for use in generating electricity in Puerto Rico.
The Woodlands, Texas-based Excelerate Energy, which is developing the project, said the FERC’s decision confirmed that the floating terminal posed “no significant environmental impact.”
The project is part of an effort to reduce Puerto Rico’s high energy costs, a factor that local companies say has had a negative impact on the economy.
“We are pleased to receive the order from FERC after nearly four years of extensive environmental review,” Excelerate CEO Rob Bryngelson said in a statement.
Excelerate Energy will supply LNG via the Aguirre Offshore GasPort to the Central Aguirre Power Complex belonging to the Puerto Rico Electric Power Authority, or PREPA.
“During this time, Excelerate has not diminished its efforts to deliver the beneficial Aguirre Offshore project, nor has the company wavered in its support for PREPA and the government of Puerto Rico,” Bryngelson said.
Construction of the floating terminal is slated to start during the first quarter of 2016, with the project expected to begin operating in the second quarter of 2017.
PREPA, a public corporation founded in 1941, supplies 99 percent of the power consumed in Puerto Rico.
Excelerate, a leading supplier of LNG solutions, has operations in Buenos Aires, Dubai, London, Rio de Janeiro and Singapore
There are a lot of articles about Detroit coming back...wonder what that land is worth that Syncora has now!
Any word on when earning maybe coming. $.70 on a dollar.. does not consider the true value of the American Roads. Many muni bonds are paying off early to take advantage of lower interest rates. More capital!
If Legg Mason is selling all those shares, we will probably not see the price move. Every time it goes up a little it falls back. I can picture this poor person being told sell that penny stock...we want to get this quarter!
They are getting stronger every month as the portfolio shrinks
We should all go to the annual meeting this year! I think it is in Bermuda
No problem! Enjoy your posts! An old investor told me "Stocks go up and down...that is what they do." This one is just in down draft. But there looks like we might be getting good news out of Prepa. It is good that others do not always agree. You need people on both sides of a trade.
And Oil keeps falling DC!
A little history from Toll Road news.
http://tollroadsnews.com/news/bankruptcy-reorganization-for-american-roads-not-as-harmonious-as-seems
Is it possible they own the toll road now in Spain and that could be of the new companies?
Link
http://www.gatorcapital.com/Assets/PDFs/2014 H1 GFP Letter.pdf?utm_source=ZohoCampaigns&utm_campaign=Gator+Financial+Partners+1st+Half+2014+Quarterly+Letter_2014-09-27_1&utm_medium=email
Hmmmmm not quite SYCRF but a cousin Goldman and Credit Suisse are owners of MBIA.
http://www.nasdaq.com/symbol/mbi/institutional-holdings
Interesting times! Good Article on Prepa and implications of a default.
http://www.hjsims.com/news-views/prepa-oil-debt-restructuring/
With gas lower Americans will be driving on Toll Roads more
Do you think the company is buying the perf back?
Here is article on Prepa. It looks like the big issue is getting the line of credit which comes due in March
http://www.caribbeanbusiness.pr/news/sps-prepa-prasa-ratings-unaffected-by-recovery-act-ruling-104441.html
Not much saw this article that S&P sees PREPA defaul on horizon. Not much detail.
http://caribbeanbusinesspr.com/news/sp-sees-a-prepa-default-on-the-horizon-104041.html
Same thing with SWKH. It was a failed internet company and now it is lending to small bio-tech companies. $1.40. interesting company. They are using the value of the NOL.
The dude sold his baby. He does want to see it die. He is sticking around so big positive. He must see opportunity that others don't.
Denny not your skill level. Sometimes you just hang on by faith. Value investing is brutal.
http://www.reuters.com/article/2015/01/20/us-usa-puertorico-utility-idUSKBN0KT0CT20150120
Need to buy some good WTI for $50 a barrel
Seilhamer asks for Prepa-Petrobras investigation
By : Inter News Service
cbprdigital@gmail.com
San Juan — New Progressive Party (NPP) Sen. Larry Seilhamer Rodríguez has asked for the Justice Department and the Senate´s Special Committee on the Purchase and Use of Oil by the Puerto Rico Electric Power Authority (Prepa) for an investigation.
The claims are regarding the utility´s decision to draw up a contract with confidentiality clauses with Brazilian oil company Petrobras, among other matters related to the agreement.
Would be nice to known if PREPA made the Jan payment.
Here is something interesting!
http://seekingalpha.com/article/2809835-low-oil-prices-could-accelerate-puerto-ricos-recovery
Nice work! Perhaps a rising stock price attracts attention. Someone wants it in the $1.75 range. Not hard to do. Could have someone do it with $100,000. Probably could make some money at it too.
It is small thin traded. All of a sudden this will boom!
Keep buying a little here a little there!
Not much talk on Puerto Rico Elect.. oil cheap and fed govt going to help them.
My concern is some hedgie wants to buy this beast and rip the common.
They only want to buy and not sell.
Looks like they were motivated to sale.
Radian said that the deal will aid its effort to comply with the Federal Housing Finance Agency's new financial requirements for private mortgage insurers — rules that are expected to be proposed sometime next year.
Read More At Investor's Business Daily: http://news.investors.com/business/122314-731812-radian-group-assured-guaranty-insurance-deal.htm#ixzz3Mpdmi3zV
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First! Thank you all for the great posts! You are a wonderful group of people. I enjoy Snowball for the comic relief!
You have to wonder how many people were bidding for Radian's portfolio. There was probably a very small pool of potential buyers. Given that this happened a the end of the year it looks like Radian was anxious to get the deal done and get back to their core business.
There is a lot of value in SYCRF. Look at the Perferreds. Value would be maximized here through the slow process of improving the balance sheet.