W.C. Varones's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/103858/comments http://seekingalpha.com/news/market_currents/post/24620?source=feed#comment-512713 512713
wcvarones.blogspot.com...]]> Thu, 21 May 2009 09:50:22 -0400
wcvarones.blogspot.com...]]> http://seekingalpha.com/article/94539-palin-on-the-ongoing-financial-crisis?source=feed#comment-250186 250186 wcvarones.blogspot.com...]]> Wed, 10 Sep 2008 08:26:11 -0400 wcvarones.blogspot.com...]]> http://seekingalpha.com/article/94539-palin-on-the-ongoing-financial-crisis?source=feed#comment-250185 250185 Wed, 10 Sep 2008 08:25:57 -0400 http://seekingalpha.com/article/94539-palin-on-the-ongoing-financial-crisis?source=feed#comment-249479 249479 Tue, 09 Sep 2008 12:34:00 -0400 http://seekingalpha.com/article/77193-a-simpler-explanation-for-bill-miller-s-losing-streak?source=feed#comment-248565 248565
Nice trade on FRE. Loser.]]> Mon, 08 Sep 2008 13:35:28 -0400
Nice trade on FRE. Loser.]]> http://seekingalpha.com/article/15531-bill-miller-15-years-of-good-luck-or-an-unlucky-2006?source=feed#comment-248564 248564
Yes.

Nice trade on FRE.

Loser.]]> Mon, 08 Sep 2008 13:34:04 -0400
Yes.

Nice trade on FRE.

Loser.]]> http://seekingalpha.com/article/94187-fdic-bank-foreclosure-streak-batting-667-on-fridays?source=feed#comment-246901 246901
wcvarones.blogspot.com...]]> Sat, 06 Sep 2008 11:16:23 -0400
wcvarones.blogspot.com...]]> http://seekingalpha.com/article/84685-fdic-comments-imply-big-haircut-for-indymac-loans?source=feed#comment-204242 204242
And why is the FDIC giving out a "50% advance dividend" on uninsured deposits???

wcvarones.blogspot.com...]]> Sun, 13 Jul 2008 10:52:37 -0400
And why is the FDIC giving out a "50% advance dividend" on uninsured deposits???

wcvarones.blogspot.com...]]> http://seekingalpha.com/article/84661-even-the-legends-are-losing-in-today-s-markets?source=feed#comment-203665 203665 Sat, 12 Jul 2008 11:33:40 -0400 http://seekingalpha.com/article/84661-even-the-legends-are-losing-in-today-s-markets?source=feed#comment-203628 203628
wcvarones.blogspot.com...

He has underperformed the S&P 500 for the past 1, 3, 5, and 10 years.]]> Sat, 12 Jul 2008 10:20:52 -0400
wcvarones.blogspot.com...

He has underperformed the S&P 500 for the past 1, 3, 5, and 10 years.]]> http://seekingalpha.com/article/67831-dick-bove-says-banking-is-sound-time-to-buy-financials?source=feed#comment-203507 203507 Fri, 11 Jul 2008 23:50:31 -0400 http://seekingalpha.com/article/82484-bofa-ceo-lewis-the-next-to-fall?source=feed#comment-196782 196782
MBNA (2005) $35 billion in cash and stock
Fleet Boston Financial (2004) $47 billion in stock
US Trust (2006) $3.3 billion, all cash"


As the stock was in the 40's and 50's in 2004-2006, and is now in the low-20's, I fail to see how these acquisitions added enormous shareholder value.
]]> Tue, 01 Jul 2008 16:21:29 -0400
MBNA (2005) $35 billion in cash and stock
Fleet Boston Financial (2004) $47 billion in stock
US Trust (2006) $3.3 billion, all cash"


As the stock was in the 40's and 50's in 2004-2006, and is now in the low-20's, I fail to see how these acquisitions added enormous shareholder value.
]]> http://seekingalpha.com/article/52708-bill-miller-countrywide-financial-is-worth-40-share?source=feed#comment-194731 194731 Sat, 28 Jun 2008 10:34:00 -0400 http://seekingalpha.com/article/77520-learning-from-bill-miller-s-recent-underperformance?source=feed#comment-192944 192944
wcvarones.blogspot.com...

On Bob Marksman, 50 for 150 is not a .300 hitter. Do the math.]]> Wed, 25 Jun 2008 22:52:20 -0400
wcvarones.blogspot.com...

On Bob Marksman, 50 for 150 is not a .300 hitter. Do the math.]]> http://seekingalpha.com/article/80951-us-dollar-5-reasons-it-will-not-hit-a-new-low?source=feed#comment-183715 183715 Wed, 11 Jun 2008 18:37:10 -0400 http://seekingalpha.com/article/80545-bernanke-seems-willing-to-allow-more-downturn-than-greenspan?source=feed#comment-181489 181489
He sets interest rates at 2%, far below the rate of inflation. He puts hundreds of billions of taxpayer dollars at risk by financing the Bear Stearns deal and then lending directly to any investment bank with dodgy collateral.

A little speech about inflation concern does not change what he's done.]]> Sun, 08 Jun 2008 17:36:16 -0400
He sets interest rates at 2%, far below the rate of inflation. He puts hundreds of billions of taxpayer dollars at risk by financing the Bear Stearns deal and then lending directly to any investment bank with dodgy collateral.

A little speech about inflation concern does not change what he's done.]]> http://seekingalpha.com/article/69871-bear-stearns-launches-first-ever-active-etf?source=feed#comment-131527 131527
FVL, NCV, CEE, etc.]]> Tue, 25 Mar 2008 22:33:01 -0400
FVL, NCV, CEE, etc.]]> http://seekingalpha.com/article/60066-a-contrarian-take-on-the-countrywide-acquisition?source=feed#comment-111262 111262
wcvarones.blogspot.com...]]> Fri, 18 Jan 2008 00:01:24 -0500
wcvarones.blogspot.com...]]> http://seekingalpha.com/article/60100-bofa-will-lose-billions-in-countrywide-deal?source=feed#comment-111260 111260
wcvarones.blogspot.com...]]> Thu, 17 Jan 2008 23:55:12 -0500
wcvarones.blogspot.com...]]> http://seekingalpha.com/article/55116-countrywide-gets-a-standing-8-count?source=feed#comment-102791 102791
Better to wait for bankruptcy court and buy the servicing business then.]]> Thu, 22 Nov 2007 13:49:37 -0500
Better to wait for bankruptcy court and buy the servicing business then.]]> http://seekingalpha.com/article/54277-could-housing-panic-actually-save-countrywide?source=feed#comment-102236 102236
seekingalpha.com/autho...]]> Sat, 17 Nov 2007 20:56:25 -0500
seekingalpha.com/autho...]]> http://seekingalpha.com/article/54277-could-housing-panic-actually-save-countrywide?source=feed#comment-102117 102117
That was yesterday. Today it is $12.12. I don't think you understand how horrible CFC's loan portfolio is, or the risk that loans it sold will be put back to it as fraudulent originations.

Enjoy your long. I'm still short.]]> Fri, 16 Nov 2007 11:56:23 -0500
That was yesterday. Today it is $12.12. I don't think you understand how horrible CFC's loan portfolio is, or the risk that loans it sold will be put back to it as fraudulent originations.

Enjoy your long. I'm still short.]]> http://seekingalpha.com/article/54277-could-housing-panic-actually-save-countrywide?source=feed#comment-102116 102116
That was yesterday. Today it is $12.12. I don't think you understand how horrible CFC's loan portfolio is, or the risk that loans it sold will be put back to it as fraudulent originations.

Enjoy your long. I'm still short.]]> Fri, 16 Nov 2007 11:55:58 -0500
That was yesterday. Today it is $12.12. I don't think you understand how horrible CFC's loan portfolio is, or the risk that loans it sold will be put back to it as fraudulent originations.

Enjoy your long. I'm still short.]]> http://seekingalpha.com/article/53864-e-trade-s-worth-much-more-than-this?source=feed#comment-101668 101668 Mon, 12 Nov 2007 09:44:54 -0500 http://seekingalpha.com/article/45616-bank-of-america-s-countrywide-investment-time-will-tell?source=feed#comment-94527 94527
If they hedge it, it's a free half billion dollars, with the added bonus of the interest rate spread between the 7.25% they receive on the preferred and the 3% they'd pay shorting the common.

Unhedged, it's a huge gamble.

If BofA did not hedge this, they are almost criminally negligent with shareholder funds, passing up a free-money, riskless-arbitrage deal for a riverboat gamble.

More details here]]> Fri, 24 Aug 2007 12:50:12 -0400
If they hedge it, it's a free half billion dollars, with the added bonus of the interest rate spread between the 7.25% they receive on the preferred and the 3% they'd pay shorting the common.

Unhedged, it's a huge gamble.

If BofA did not hedge this, they are almost criminally negligent with shareholder funds, passing up a free-money, riskless-arbitrage deal for a riverboat gamble.

More details here]]>