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W.C. Varones » Comments » CFC

  • Bill Miller: Countrywide Financial Is Worth $40/Share [View article]
    What a maroon!
    Jun 28 10:34 am |Rating: 0 0 |Link to Comment
  • A Contrarian Take On the Countrywide Acquisition [View article]
    How about CFC is worth less than nothing and B of A has tons of outs to bust the deal:

    wcvarones.blogspot.com...
    Jan 18 00:01 am |Rating: 0 0 |Link to Comment
  • BofA Will Lose Billions in Countrywide Deal [View article]
    Or maybe not:

    wcvarones.blogspot.com...
    Jan 17 23:55 pm |Rating: 0 0 |Link to Comment
  • Countrywide Gets a Standing 8 Count [View article]
    Why acquire the whole company and take on the horrible loan portfolio and legal risk?

    Better to wait for bankruptcy court and buy the servicing business then.
    Nov 22 13:49 pm |Rating: 0 0 |Link to Comment
  • Could Housing Panic Actually Save Countrywide? [View article]
    Nice resume:

    seekingalpha.com/autho...
    Nov 17 20:56 pm |Rating: 0 0 |Link to Comment
  • Could Housing Panic Actually Save Countrywide? [View article]
    "Right now CFC is trading at $13.60 per share..."

    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.
    Nov 16 11:56 am |Rating: 0 0 |Link to Comment
  • Could Housing Panic Actually Save Countrywide? [View article]
    "Right now CFC is trading at $13.60 per share..."

    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.
    Nov 16 11:55 am |Rating: 0 0 |Link to Comment
  • Bank of America's Countrywide Investment: Time Will Tell [View article]
    It is naive to believe that BofA is not hedging this transaction via short sales, swaps, or options.

    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
    Aug 24 12:50 pm |Rating: 0 0 |Link to Comment
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