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Larry Meyers  

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  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    What do any of these posts have to do with Medallion Financial?

    None.

    It is continuous distraction from the only important issue -- that the price of medallions has no bearing whatsoever on borrowers paying on their loans. I've repeatedly written and posted comments that this is the only issue, that borrowers will not walk away from their loans because it means walking away from their equity and livelihood, as well as forfeiting personal assets. Not gonna happen.

    Twerdahl has also said that even if medallion prices were relevant, they could fall another 25% and the entire industry would lose $22 million. TAXI's entire 2014 net income was $22 million. It would be negligibly affected, if at all.
    Mar 4, 2015. 11:59 AM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    You really believe that the average Joe is going to want to wheelchair retrofit his car???? That someone who owns a non-SUV or van is going to even be able to?????
    Mar 4, 2015. 11:17 AM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Astounding, isn't it? You post a lengthy quote and ascribe legitimacy to the whole thing, including the part that undermines your entire short thesis:

    "The yellow cab industry is perfectly capable of recovering from a 25-percent decline in the value of taxi medallions despite the onslaught of competition from upstarts like Uber, Taxi & Limousine Commission Chair Meera Joshi insisted today."

    But then backpedal and say no no no, not THAT part, only all these other parts.

    In any event, your logic is wrong. Uber and taxis can coexist with no damage to medallion prices. One does not necessarily follow from the other.
    Mar 4, 2015. 12:31 AM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Nobody argues that the two can't coexist. But there's nothing in here about rideshare killing taxis, and in fact, as you just pointed out all by yourself, the decline in medallion prices will not be permanent.
    Mar 3, 2015. 06:37 PM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    You just undermined your own short thesis.

    "“The yellow cab industry is perfectly capable of recovering from a 25-percent decline in the value of taxi medallions despite the onslaught of competition from upstarts like Uber, Taxi & Limousine Commission Chair Meera Joshi insisted today."
    Mar 3, 2015. 06:34 PM | 1 Like Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    My point is vastly simpler.

    There have been two transactions. The market is frozen because of uncertainty. How it resolves will be determined in time.

    Which throws the question back to you --

    Should there be even a single medallion transfer that is higher than 150K, what does that do to your theory.
    Mar 2, 2015. 09:53 PM | 1 Like Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Because the quality of TAXI's portfolio is at least as good as, and very likely far better, than any of those others. In addition, TAXI has 50% upside purely as a result of market perception plus a 9.5% yield.
    Mar 2, 2015. 06:04 PM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Let's assume they haven't. So what?
    Mar 2, 2015. 06:02 PM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Once AGAIN, you make claims about TAXI while having absolutely nothing to back up those claims. TAXI is NOT any other company. TAXI is TAXI. It has its own underwriting criteria, and own history of excellent performance on those loans.
    Mar 2, 2015. 04:02 PM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    According to whom?
    Mar 2, 2015. 03:59 PM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Funny, you never mentioned rolling averages before.
    Mar 2, 2015. 01:32 PM | 1 Like Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    It makes one think that the market is frozen because of UNCERTAINTY about rideshare, and crony capitalism as the Mayor's brother is an investor in Uber. Who wants to get involved in medallions in that environment -- especially since it may change given that Rahm has been forced to a runoff.
    Mar 2, 2015. 12:13 PM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    Wells has NOTHING to do with TAXI!!! The risk in ANY loan is the underwriting to THAT SPECIFIC LOAN. Stop distracting people from the conservative underwriting policies at the company by trying to compare them to anyone else.
    Mar 2, 2015. 11:15 AM | Likes Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    This is the FIRST time you have ever mentioned a 3 month rolling average. Up until now, it's all been static observation.

    What changed?
    Mar 2, 2015. 11:13 AM | 1 Like Like |Link to Comment
  • Medallion Financial's Recovery No Surprise, A Sign Of Positive Long-Term Prospects [View article]
    TWO transactions! Wow! That is incredible! It really must make a market!

    Ridiculous.

    Regarding BDC status, you quote boilerplate disclosure.
    Mar 2, 2015. 10:10 AM | Likes Like |Link to Comment
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