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Joe Eifrid

 
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  • Potentially Good News For American Capital Agency [View article]
    "Substantial changes are likely to occur once the Fed completely leaves the MBS market, but for now it is only reducing the monthly purchases from $85 billion to $75 billion worth of mortgages."

    The Fed reduced MBS purchases from $40 bil per month, to $35 bil. Treasuries from $45 bil to $40bil.
    Dec 25 02:49 PM | Likes Like |Link to Comment
  • New Orders rise 3.5%, beats expectations [View news story]
    "Congress extended bonus depreciation and more robust Section 179 expensing through year-end 2013 as part of last January’s fiscal cliff deal, and now as the deadline is approaching, small business owners are looking anew at capital purchases. If you’re on the border line of whether you’re going to make some capital asset acquisition this year or next, you might want to accelerate it into this year."
    http://onforb.es/1cvipgt
    Dec 24 09:31 AM | 1 Like Like |Link to Comment
  • AmTrust Financial Services: A House Of Cards? [View article]
    Actually should read 1 for 20. PNX stock price has done well since the split, unlike many that continue down the toilet. PNX was selling at 1.50 going into the split, to a split adjusted $30 PPS. Now trading at $54. Nice chart;
    http://bit.ly/1ftWqp1
    Higher interest rates will help PNX out greatly.
    Dec 14 01:47 PM | Likes Like |Link to Comment
  • AmTrust Financial Services: A House Of Cards? [View article]
    MHNA, MNHC...Thanks for the ideas. Interesting that PNX's exchange traded debt, PFX, has a lower yield (8.16%) and "junk" rating yet the author sees PNX faced with possible BK.
    Dec 14 01:36 PM | Likes Like |Link to Comment
  • Amazon planning to deliver products using drones [View news story]
    I understand that FAA requires commercial air traffic to remain over 500 feet above populated areas.
    Dec 2 01:31 PM | Likes Like |Link to Comment
  • Amazon planning to deliver products using drones [View news story]
    Does anyone know how fast these things fly? How long for a round trip 10 miles out?
    Dec 2 12:20 PM | Likes Like |Link to Comment
  • Amazon planning to deliver products using drones [View news story]
    Wind...whatever...the main issue is that they will be economically infeasible. Think about how many round way trips one of these could make a day with "refueling", maintenance, etc. as compared to loading up a Fed-ex truck with several hundred packages that can be delivered that day. That, and that they are just not reliable when it comes to weather concerns. AMZN would have to have a more traditional back up in such cases. These units would also have to maneuver around over head telephone, cable lines, as well as not setting the unit down on a pile of dog crap. I think we can forget most multi-family housing for deliveries too.

    I also wonder how AMZN expects to get their cute little plastic containers back.

    This drone hype is a brilliant PR stunt for AMZN to get it's name out front on cyber Monday. Whoever came up with the idea should be justly compensated.
    Dec 2 08:08 AM | 1 Like Like |Link to Comment
  • Ackman takes big stakes in the GSEs [View news story]
    "My money is on the greedy forces of congress. "

    You mean as in caving due to the contributions to their campaigns from the hedge funds?
    Nov 15 09:29 AM | 2 Likes Like |Link to Comment
  • Best Way To Trade The GSEs [View article]
    Fairholme Capital proposal
    http://bit.ly/19mQ3hd
    Nov 14 08:51 AM | Likes Like |Link to Comment
  • Fairholme proposes $52B recap for GSEs: WSJ [View news story]
    Interesting read from Fairholme Capital
    http://bit.ly/19mQ3hd
    Nov 14 08:11 AM | Likes Like |Link to Comment
  • Fairholme proposes $52B recap for GSEs: WSJ [View news story]
    Pssst....The outline...
    http://on.ft.com/1aFsjoQ
    Nov 13 09:10 PM | Likes Like |Link to Comment
  • Fannie Mae earns $8.7B in Q3 [View news story]
    "I don't understand why I have to pay for the bad company in which you may own stock."

    I don't think we should either. But, I think all the shareholders want is a plan in place where they can exit conservatorship, pay back the US Treasury under reasonable terms, and start to be able to rebuild capital again. By March 31st of next year the government will have received back in net terms everything they lent out, and then some. There should be a fair return given for the use of the funds, but everything after that should go to the shareholders.
    Nov 9 12:19 PM | Likes Like |Link to Comment
  • Fannie Mae earns $8.7B in Q3 [View news story]
    You may be surprised to know that S&P companies like DAL, AZO, DTV, LTD, MAR, PM are technically insolvent - assets less than liabilities. Fannie itself found it was technically insolvent in the early 80's when interest rates skyrocketed. There was no call for conservatorship back then. Sure Fannie and Freddie had their problems, but it did not help that the government was forcing them to make more and more loans to low income families, and also that the major makes put them on the hook for so many bad loans through weak leading standards. If these two companies would have been dissolved, it would have put the nation, and probably the world, in to a economic depression. Even here, 5 years later, there would probably still be no housing industry to speak of. I think all the shareholders want is equal treatment as they gave to C, BAC, AIG and many other banks.
    Nov 8 07:55 AM | 1 Like Like |Link to Comment
  • Fannie Mae earns $8.7B in Q3 [View news story]
    Fannie and Freddie never went BK. They had a "mere" insolvency problem. They still had good cash flow that could have seen them through the mess. Look at FHA, they are just now talking about needing more cash 5 years out after the crisis. Nearly half of what FnF borrowed from the treasury at loan shark rates was the reversal of taking their deferred tax assets off the balance sheet. This threw them technically deeper into insolvency and the treasury forced them to borrow a similar amount to bring their net worth up to positive. The shareholders really got screwed and hopefully the shareholder lawsuits will rectify the problem.
    Nov 7 03:49 PM | Likes Like |Link to Comment
  • Phoenix: A Stock Set To Rise From The Ashes [View article]
    I wrote this article two years ago. I own a little PFX myself, but have quit following the company.
    Oct 25 06:48 PM | Likes Like |Link to Comment
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