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I did read that re. the financing of the buyout and I decided I don't mind as MER makes a bonus 4.5% on the loan and I do believe that the average home in America is worth 22 cents on the dollar. I would have to call 5 cents on the dollar a decidedly negative way to spin the value of a home loan but that's what makes a market right!
Jul 29 16:12 pm
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All Comments by Philip Davis »Options Trader: Tuesday Outlook [View article]
We counted on that reaction today, loaded up the truck on MER and other financials and had a pretty good day. It doesn't mean my long premise is right and Whitney is wrong or vs. vs - only time will really tell how extensive the damage is but we're effectively buying into the dips now on a regular basis (but covering or getting out EOD as we're not that in love with the financials) and it's kind of a fun way to play it until things settle down.