beachtango's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/155663/comments http://seekingalpha.com/article/74830-visa-near-term-fluctuations-present-a-buying-opportunity?source=feed#comment-159793 159793 , because call options would be the only way to go...or LEAPS? I look forward to your feedback or anyone else's..thanks for your time ...cheers ]]> Wed, 30 Apr 2008 19:58:40 -0400 , because call options would be the only way to go...or LEAPS? I look forward to your feedback or anyone else's..thanks for your time ...cheers ]]> http://seekingalpha.com/article/74830-visa-near-term-fluctuations-present-a-buying-opportunity?source=feed#comment-159792 159792 Wed, 30 Apr 2008 19:57:47 -0400 http://seekingalpha.com/article/74234-potash-fertilizer-industry-the-week-that-was?source=feed#comment-158977 158977 Tue, 29 Apr 2008 19:45:52 -0400 http://seekingalpha.com/article/74234-potash-fertilizer-industry-the-week-that-was?source=feed#comment-158975 158975 Tue, 29 Apr 2008 19:44:43 -0400 http://seekingalpha.com/article/72428-u-s-credit-card-performance-deteriorates-again?source=feed#comment-154310 154310 Mon, 21 Apr 2008 17:36:19 -0400 http://seekingalpha.com/article/72428-u-s-credit-card-performance-deteriorates-again?source=feed#comment-154309 154309 Mon, 21 Apr 2008 17:35:17 -0400 http://seekingalpha.com/article/72898-the-global-agricultural-boom-no-bubbles-here?source=feed#comment-153173 153173 Fri, 18 Apr 2008 18:42:47 -0400 http://seekingalpha.com/article/72744-options-traders-call-potash-the-new-crude?source=feed#comment-153171 153171 Fri, 18 Apr 2008 18:34:39 -0400 http://seekingalpha.com/article/68806-bull-market-continues-for-potash?source=feed#comment-128781 128781 Wed, 19 Mar 2008 11:15:55 -0400 http://seekingalpha.com/article/68445-determining-assured-guaranty-s-true-value?source=feed#comment-126623 126623 My ocomment is that you should not comment on bond insurers anymore...Of all the bond insurers AGO seems quite well positioned and less exposed to explosions in the sub-prime mess.
Also, I and many others on these message boards take great exception regarding your efforts to shoot down companies (MBI, ABK) that are earnestly attempting to recover, prevail and benefit the American public. I think you should focus on solutions. Everyone knows these companies made mistakes, the list of financial institutions is quite lengthy that are in deep water due to decisions that at the time seemed acceptable risks. All of the aforementioned has been discussed endlessly. Now we repair the already identified issues. Rehashing over and over serves no one..not even your short positions. I would say you are out of your league at this point young chap. You have had your fun and made your monies. You should change your cynic tone, because it's quite transparent. as well as boring...have a nice day.]]> Fri, 14 Mar 2008 14:51:18 -0400 My ocomment is that you should not comment on bond insurers anymore...Of all the bond insurers AGO seems quite well positioned and less exposed to explosions in the sub-prime mess.
Also, I and many others on these message boards take great exception regarding your efforts to shoot down companies (MBI, ABK) that are earnestly attempting to recover, prevail and benefit the American public. I think you should focus on solutions. Everyone knows these companies made mistakes, the list of financial institutions is quite lengthy that are in deep water due to decisions that at the time seemed acceptable risks. All of the aforementioned has been discussed endlessly. Now we repair the already identified issues. Rehashing over and over serves no one..not even your short positions. I would say you are out of your league at this point young chap. You have had your fun and made your monies. You should change your cynic tone, because it's quite transparent. as well as boring...have a nice day.]]> http://seekingalpha.com/article/68448-mbia-management-s-a-safe-short-bet?source=feed#comment-126218 126218 The embattled Armonk, N.Y.-based bond insurance outfit, which has raised some $2.6 billion in capital from private and public investors to appease Standard & Poor's and Moody's Investors Service, believes that it can snatch up new insurance and reinsurance policies from smaller firms that might be facing runoff -- a process in which they collect fees on policies they already insure, but pursue no new business -- or are otherwise hampered, CEO Jay Brown tells TheStreet.com.

"We have a clear opportunity. A number of companies look like they are going to go into runoff," Brown notes.

For his part, Brown has been scrambling since returning to MBIA as CEO last month to breathe new life into the world's largest bond insurance company. MBIA, the largest financial guarantor, and its next largest rival Ambac Financial(ABK - Cramer's Take - Stockpickr) have been swept up in perhaps the most harrowing financial turmoil the debt insurance sector has experienced in three decades. The guarantors have also been the target of short-selling hedge fund manager Bill Ackman, who has lobbed frequent verbal grenades at the companies through the press and his writings.

"Look at all the companies affected the most and you look at how much capacity the firms that have underwritten insurance. They don't have enough capacity," Brown says. Without being explicit, Brown said a number of the smaller guarantors may be susceptible to falling into runoff.

Still, restoring confidence among shareholders continues to be an uphill battle.

MBIA has so far underwritten "very little new business," according to a recent filing with the Securities and Exchange Commission. But Brown is optimistic that the pall surrounding the company will dissipate in the wake of S&P and Moody's affirming MBIA's pristine triple-A rating last month. The CEO also noted that MBIA wrapped up a public finance insurance deal for a $377 million toll road project. But the insurer will likely face further writedowns next quarter in areas tied to mortgage-tainted securities, including home equity mortgages that have dropped recently.

As a part of its restructuring efforts, MBIA announced late Thursday that it was cutting 48 positions, as it retools its structured finance insurance business. Brown's larger restructuring plan involves splitting up MBIA's more risky structured finance business from its safer, more conservative job of insuring debt for municipalities. The CEO has said the split may take up to five years to complete.

Some of the new staffers MBIA plans to hire in the near term will be part of a strategic financial group that will help the firm achieve its goal of underwriting conservative insurance policies. MBIA plans to steer clear of funky structured debt and staffers in its strategy group will help it figure out ways separate out its structured book of business.

Brown has said publicly that splitting up the structured book from the municipal business should help it secure future funding at attractive rates and help restore the guarantor's image to potential clients. At this point, MBIA is trading at a more than 80% discount to its share price a year ago.

MBIA has been adamant about its view that it has sufficient capital -- about $17 billion -- to pay claims should a deteriorating economy result in debt defaults.

NEW YORK, March 11 (Reuters) - U.S. bond insurers' losses are likely much lower than what the troubled firms have reported when marking their holdings to market prices, Moody's Investors Service said on Tuesday.

Shares of bond insurers like MBIA Inc (MBI.N: Quote, Profile, Research) and Ambac Financial Group (ABK.N: Quote, Profile, Research), which guarantee payments on roughly $2.4 trillion of debt securities, have fallen precipitously on worries about billions of dollars of claims on mortgage-related bonds they may have to pay out.

In the last six months, Ambac shares have fallen 79.4 percent and MBIA shares have slid 81 percent.

But Moody's approach to rating the guarantors involves trying to determine the "real economic loss" the firms will sustain, as opposed to mark-to-market losses, Moody's analyst Ted Collins said in response to a question on a conference call.

Such loss estimates are "lower than the mark to market that's being recorded," Collins said.

Accounting firms are putting increasing pressure on financial firms to mark their holdings to observable market prices. That has frustrated some firms, which argue that volatile short-term prices can exaggerate actual losses.

If the losses the bond insurers face turn out to be less than expected, that could provide some relief for investors.

Insurers like Ambac have had to write down the value of billions of dollars of credit derivatives, but these write-downs may not necessarily translate into actual losses.

As a result, some players are still confident the firms have enough capital and available funds to pay expected claims.

Tillson, and Middleton....talk constuctively...for a change....]]> Thu, 13 Mar 2008 19:29:12 -0400 The embattled Armonk, N.Y.-based bond insurance outfit, which has raised some $2.6 billion in capital from private and public investors to appease Standard & Poor's and Moody's Investors Service, believes that it can snatch up new insurance and reinsurance policies from smaller firms that might be facing runoff -- a process in which they collect fees on policies they already insure, but pursue no new business -- or are otherwise hampered, CEO Jay Brown tells TheStreet.com.

"We have a clear opportunity. A number of companies look like they are going to go into runoff," Brown notes.

For his part, Brown has been scrambling since returning to MBIA as CEO last month to breathe new life into the world's largest bond insurance company. MBIA, the largest financial guarantor, and its next largest rival Ambac Financial(ABK - Cramer's Take - Stockpickr) have been swept up in perhaps the most harrowing financial turmoil the debt insurance sector has experienced in three decades. The guarantors have also been the target of short-selling hedge fund manager Bill Ackman, who has lobbed frequent verbal grenades at the companies through the press and his writings.

"Look at all the companies affected the most and you look at how much capacity the firms that have underwritten insurance. They don't have enough capacity," Brown says. Without being explicit, Brown said a number of the smaller guarantors may be susceptible to falling into runoff.

Still, restoring confidence among shareholders continues to be an uphill battle.

MBIA has so far underwritten "very little new business," according to a recent filing with the Securities and Exchange Commission. But Brown is optimistic that the pall surrounding the company will dissipate in the wake of S&P and Moody's affirming MBIA's pristine triple-A rating last month. The CEO also noted that MBIA wrapped up a public finance insurance deal for a $377 million toll road project. But the insurer will likely face further writedowns next quarter in areas tied to mortgage-tainted securities, including home equity mortgages that have dropped recently.

As a part of its restructuring efforts, MBIA announced late Thursday that it was cutting 48 positions, as it retools its structured finance insurance business. Brown's larger restructuring plan involves splitting up MBIA's more risky structured finance business from its safer, more conservative job of insuring debt for municipalities. The CEO has said the split may take up to five years to complete.

Some of the new staffers MBIA plans to hire in the near term will be part of a strategic financial group that will help the firm achieve its goal of underwriting conservative insurance policies. MBIA plans to steer clear of funky structured debt and staffers in its strategy group will help it figure out ways separate out its structured book of business.

Brown has said publicly that splitting up the structured book from the municipal business should help it secure future funding at attractive rates and help restore the guarantor's image to potential clients. At this point, MBIA is trading at a more than 80% discount to its share price a year ago.

MBIA has been adamant about its view that it has sufficient capital -- about $17 billion -- to pay claims should a deteriorating economy result in debt defaults.

NEW YORK, March 11 (Reuters) - U.S. bond insurers' losses are likely much lower than what the troubled firms have reported when marking their holdings to market prices, Moody's Investors Service said on Tuesday.

Shares of bond insurers like MBIA Inc (MBI.N: Quote, Profile, Research) and Ambac Financial Group (ABK.N: Quote, Profile, Research), which guarantee payments on roughly $2.4 trillion of debt securities, have fallen precipitously on worries about billions of dollars of claims on mortgage-related bonds they may have to pay out.

In the last six months, Ambac shares have fallen 79.4 percent and MBIA shares have slid 81 percent.

But Moody's approach to rating the guarantors involves trying to determine the "real economic loss" the firms will sustain, as opposed to mark-to-market losses, Moody's analyst Ted Collins said in response to a question on a conference call.

Such loss estimates are "lower than the mark to market that's being recorded," Collins said.

Accounting firms are putting increasing pressure on financial firms to mark their holdings to observable market prices. That has frustrated some firms, which argue that volatile short-term prices can exaggerate actual losses.

If the losses the bond insurers face turn out to be less than expected, that could provide some relief for investors.

Insurers like Ambac have had to write down the value of billions of dollars of credit derivatives, but these write-downs may not necessarily translate into actual losses.

As a result, some players are still confident the firms have enough capital and available funds to pay expected claims.

Tillson, and Middleton....talk constuctively...for a change....]]> http://seekingalpha.com/article/67665-why-we-re-still-in-the-early-innings-of-the-bursting-of-the-housing-and-credit-bubbles-and-implications-for-mbia-and-ambac?source=feed#comment-125764 125764
The embattled Armonk, N.Y.-based bond insurance outfit, which has raised some $2.6 billion in capital from private and public investors to appease Standard & Poor's and Moody's Investors Service, believes that it can snatch up new insurance and reinsurance policies from smaller firms that might be facing runoff -- a process in which they collect fees on policies they already insure, but pursue no new business -- or are otherwise hampered, CEO Jay Brown tells TheStreet.com.

"We have a clear opportunity. A number of companies look like they are going to go into runoff," Brown notes.

For his part, Brown has been scrambling since returning to MBIA as CEO last month to breathe new life into the world's largest bond insurance company. MBIA, the largest financial guarantor, and its next largest rival Ambac Financial(ABK - Cramer's Take - Stockpickr) have been swept up in perhaps the most harrowing financial turmoil the debt insurance sector has experienced in three decades. The guarantors have also been the target of short-selling hedge fund manager Bill Ackman, who has lobbed frequent verbal grenades at the companies through the press and his writings.

"Look at all the companies affected the most and you look at how much capacity the firms that have underwritten insurance. They don't have enough capacity," Brown says. Without being explicit, Brown said a number of the smaller guarantors may be susceptible to falling into runoff.

Still, restoring confidence among shareholders continues to be an uphill battle.

MBIA has so far underwritten "very little new business," according to a recent filing with the Securities and Exchange Commission. But Brown is optimistic that the pall surrounding the company will dissipate in the wake of S&P and Moody's affirming MBIA's pristine triple-A rating last month. The CEO also noted that MBIA wrapped up a public finance insurance deal for a $377 million toll road project. But the insurer will likely face further writedowns next quarter in areas tied to mortgage-tainted securities, including home equity mortgages that have dropped recently.

As a part of its restructuring efforts, MBIA announced late Thursday that it was cutting 48 positions, as it retools its structured finance insurance business. Brown's larger restructuring plan involves splitting up MBIA's more risky structured finance business from its safer, more conservative job of insuring debt for municipalities. The CEO has said the split may take up to five years to complete.

Some of the new staffers MBIA plans to hire in the near term will be part of a strategic financial group that will help the firm achieve its goal of underwriting conservative insurance policies. MBIA plans to steer clear of funky structured debt and staffers in its strategy group will help it figure out ways separate out its structured book of business.

Brown has said publicly that splitting up the structured book from the municipal business should help it secure future funding at attractive rates and help restore the guarantor's image to potential clients. At this point, MBIA is trading at a more than 80% discount to its share price a year ago.

MBIA has been adamant about its view that it has sufficient capital -- about $17 billion -- to pay claims should a deteriorating economy result in debt defaults.
NEW YORK, March 11 (Reuters) - U.S. bond insurers' losses are likely much lower than what the troubled firms have reported when marking their holdings to market prices, Moody's Investors Service said on Tuesday.

Shares of bond insurers like MBIA Inc (MBI.N: Quote, Profile, Research) and Ambac Financial Group (ABK.N: Quote, Profile, Research), which guarantee payments on roughly $2.4 trillion of debt securities, have fallen precipitously on worries about billions of dollars of claims on mortgage-related bonds they may have to pay out.

In the last six months, Ambac shares have fallen 79.4 percent and MBIA shares have slid 81 percent.

But Moody's approach to rating the guarantors involves trying to determine the "real economic loss" the firms will sustain, as opposed to mark-to-market losses, Moody's analyst Ted Collins said in response to a question on a conference call.

Such loss estimates are "lower than the mark to market that's being recorded," Collins said.

Accounting firms are putting increasing pressure on financial firms to mark their holdings to observable market prices. That has frustrated some firms, which argue that volatile short-term prices can exaggerate actual losses.

If the losses the bond insurers face turn out to be less than expected, that could provide some relief for investors.

Insurers like Ambac have had to write down the value of billions of dollars of credit derivatives, but these write-downs may not necessarily translate into actual losses.

As a result, some players are still confident the firms have enough capital and available funds to pay expected claims.

Tillson, Once again please try to write both sides of stories not just your own...make things interesting at least....



]]> Wed, 12 Mar 2008 20:24:59 -0400
The embattled Armonk, N.Y.-based bond insurance outfit, which has raised some $2.6 billion in capital from private and public investors to appease Standard & Poor's and Moody's Investors Service, believes that it can snatch up new insurance and reinsurance policies from smaller firms that might be facing runoff -- a process in which they collect fees on policies they already insure, but pursue no new business -- or are otherwise hampered, CEO Jay Brown tells TheStreet.com.

"We have a clear opportunity. A number of companies look like they are going to go into runoff," Brown notes.

For his part, Brown has been scrambling since returning to MBIA as CEO last month to breathe new life into the world's largest bond insurance company. MBIA, the largest financial guarantor, and its next largest rival Ambac Financial(ABK - Cramer's Take - Stockpickr) have been swept up in perhaps the most harrowing financial turmoil the debt insurance sector has experienced in three decades. The guarantors have also been the target of short-selling hedge fund manager Bill Ackman, who has lobbed frequent verbal grenades at the companies through the press and his writings.

"Look at all the companies affected the most and you look at how much capacity the firms that have underwritten insurance. They don't have enough capacity," Brown says. Without being explicit, Brown said a number of the smaller guarantors may be susceptible to falling into runoff.

Still, restoring confidence among shareholders continues to be an uphill battle.

MBIA has so far underwritten "very little new business," according to a recent filing with the Securities and Exchange Commission. But Brown is optimistic that the pall surrounding the company will dissipate in the wake of S&P and Moody's affirming MBIA's pristine triple-A rating last month. The CEO also noted that MBIA wrapped up a public finance insurance deal for a $377 million toll road project. But the insurer will likely face further writedowns next quarter in areas tied to mortgage-tainted securities, including home equity mortgages that have dropped recently.

As a part of its restructuring efforts, MBIA announced late Thursday that it was cutting 48 positions, as it retools its structured finance insurance business. Brown's larger restructuring plan involves splitting up MBIA's more risky structured finance business from its safer, more conservative job of insuring debt for municipalities. The CEO has said the split may take up to five years to complete.

Some of the new staffers MBIA plans to hire in the near term will be part of a strategic financial group that will help the firm achieve its goal of underwriting conservative insurance policies. MBIA plans to steer clear of funky structured debt and staffers in its strategy group will help it figure out ways separate out its structured book of business.

Brown has said publicly that splitting up the structured book from the municipal business should help it secure future funding at attractive rates and help restore the guarantor's image to potential clients. At this point, MBIA is trading at a more than 80% discount to its share price a year ago.

MBIA has been adamant about its view that it has sufficient capital -- about $17 billion -- to pay claims should a deteriorating economy result in debt defaults.
NEW YORK, March 11 (Reuters) - U.S. bond insurers' losses are likely much lower than what the troubled firms have reported when marking their holdings to market prices, Moody's Investors Service said on Tuesday.

Shares of bond insurers like MBIA Inc (MBI.N: Quote, Profile, Research) and Ambac Financial Group (ABK.N: Quote, Profile, Research), which guarantee payments on roughly $2.4 trillion of debt securities, have fallen precipitously on worries about billions of dollars of claims on mortgage-related bonds they may have to pay out.

In the last six months, Ambac shares have fallen 79.4 percent and MBIA shares have slid 81 percent.

But Moody's approach to rating the guarantors involves trying to determine the "real economic loss" the firms will sustain, as opposed to mark-to-market losses, Moody's analyst Ted Collins said in response to a question on a conference call.

Such loss estimates are "lower than the mark to market that's being recorded," Collins said.

Accounting firms are putting increasing pressure on financial firms to mark their holdings to observable market prices. That has frustrated some firms, which argue that volatile short-term prices can exaggerate actual losses.

If the losses the bond insurers face turn out to be less than expected, that could provide some relief for investors.

Insurers like Ambac have had to write down the value of billions of dollars of credit derivatives, but these write-downs may not necessarily translate into actual losses.

As a result, some players are still confident the firms have enough capital and available funds to pay expected claims.

Tillson, Once again please try to write both sides of stories not just your own...make things interesting at least....



]]> http://seekingalpha.com/article/67441-ambac-s-announcement-is-a-joke-disagreeing-with-whitman-on-monolines?source=feed#comment-125341 125341 Tillson you're amazing...Get a clue, and do yourself a favor and cover your shorts...short interest is not what it was...Perhaps you need to review everything before you start posting. Please read on :


NEW YORK, March 11 (Reuters) - U.S. bond insurers' losses are likely much lower than what the troubled firms have reported when marking their holdings to market prices, Moody's Investors Service said on Tuesday.

Shares of bond insurers like MBIA Inc (MBI.N: Quote, Profile, Research) and Ambac Financial Group (ABK.N: Quote, Profile, Research), which guarantee payments on roughly $2.4 trillion of debt securities, have fallen precipitously on worries about billions of dollars of claims on mortgage-related bonds they may have to pay out.

In the last six months, Ambac shares have fallen 79.4 percent and MBIA shares have slid 81 percent.

But Moody's approach to rating the guarantors involves trying to determine the "real economic loss" the firms will sustain, as opposed to mark-to-market losses, Moody's analyst Ted Collins said in response to a question on a conference call.

Such loss estimates are "lower than the mark to market that's being recorded," Collins said.

Accounting firms are putting increasing pressure on financial firms to mark their holdings to observable market prices. That has frustrated some firms, which argue that volatile short-term prices can exaggerate actual losses.

If the losses the bond insurers face turn out to be less than expected, that could provide some relief for investors.

Insurers like Ambac have had to write down the value of billions of dollars of credit derivatives, but these write-downs may not necessarily translate into actual losses.

As a result, some players are still confident the firms have enough capital and available funds to pay expected claims.

once again shorts sellers , don't get caughts with your shorts down.. Satrt covering them while you can, and stop the cynicism.]]> Tue, 11 Mar 2008 18:28:09 -0400 Tillson you're amazing...Get a clue, and do yourself a favor and cover your shorts...short interest is not what it was...Perhaps you need to review everything before you start posting. Please read on :


NEW YORK, March 11 (Reuters) - U.S. bond insurers' losses are likely much lower than what the troubled firms have reported when marking their holdings to market prices, Moody's Investors Service said on Tuesday.

Shares of bond insurers like MBIA Inc (MBI.N: Quote, Profile, Research) and Ambac Financial Group (ABK.N: Quote, Profile, Research), which guarantee payments on roughly $2.4 trillion of debt securities, have fallen precipitously on worries about billions of dollars of claims on mortgage-related bonds they may have to pay out.

In the last six months, Ambac shares have fallen 79.4 percent and MBIA shares have slid 81 percent.

But Moody's approach to rating the guarantors involves trying to determine the "real economic loss" the firms will sustain, as opposed to mark-to-market losses, Moody's analyst Ted Collins said in response to a question on a conference call.

Such loss estimates are "lower than the mark to market that's being recorded," Collins said.

Accounting firms are putting increasing pressure on financial firms to mark their holdings to observable market prices. That has frustrated some firms, which argue that volatile short-term prices can exaggerate actual losses.

If the losses the bond insurers face turn out to be less than expected, that could provide some relief for investors.

Insurers like Ambac have had to write down the value of billions of dollars of credit derivatives, but these write-downs may not necessarily translate into actual losses.

As a result, some players are still confident the firms have enough capital and available funds to pay expected claims.

once again shorts sellers , don't get caughts with your shorts down.. Satrt covering them while you can, and stop the cynicism.]]> http://seekingalpha.com/article/67665-why-we-re-still-in-the-early-innings-of-the-bursting-of-the-housing-and-credit-bubbles-and-implications-for-mbia-and-ambac?source=feed#comment-124806 124806
The embattled Armonk, N.Y.-based bond insurance outfit, which has raised some $2.6 billion in capital from private and public investors to appease Standard & Poor's and Moody's Investors Service, believes that it can snatch up new insurance and reinsurance policies from smaller firms that might be facing runoff -- a process in which they collect fees on policies they already insure, but pursue no new business -- or are otherwise hampered, CEO Jay Brown tells TheStreet.com.

"We have a clear opportunity. A number of companies look like they are going to go into runoff," Brown notes.

For his part, Brown has been scrambling since returning to MBIA as CEO last month to breathe new life into the world's largest bond insurance company. MBIA, the largest financial guarantor, and its next largest rival Ambac Financial(ABK - Cramer's Take - Stockpickr) have been swept up in perhaps the most harrowing financial turmoil the debt insurance sector has experienced in three decades. The guarantors have also been the target of short-selling hedge fund manager Bill Ackman, who has lobbed frequent verbal grenades at the companies through the press and his writings.

"Look at all the companies affected the most and you look at how much capacity the firms that have underwritten insurance. They don't have enough capacity," Brown says. Without being explicit, Brown said a number of the smaller guarantors may be susceptible to falling into runoff.

Still, restoring confidence among shareholders continues to be an uphill battle.

MBIA has so far underwritten "very little new business," according to a recent filing with the Securities and Exchange Commission. But Brown is optimistic that the pall surrounding the company will dissipate in the wake of S&P and Moody's affirming MBIA's pristine triple-A rating last month. The CEO also noted that MBIA wrapped up a public finance insurance deal for a $377 million toll road project. But the insurer will likely face further writedowns next quarter in areas tied to mortgage-tainted securities, including home equity mortgages that have dropped recently.

As a part of its restructuring efforts, MBIA announced late Thursday that it was cutting 48 positions, as it retools its structured finance insurance business. Brown's larger restructuring plan involves splitting up MBIA's more risky structured finance business from its safer, more conservative job of insuring debt for municipalities. The CEO has said the split may take up to five years to complete.

Some of the new staffers MBIA plans to hire in the near term will be part of a strategic financial group that will help the firm achieve its goal of underwriting conservative insurance policies. MBIA plans to steer clear of funky structured debt and staffers in its strategy group will help it figure out ways separate out its structured book of business.

Brown has said publicly that splitting up the structured book from the municipal business should help it secure future funding at attractive rates and help restore the guarantor's image to potential clients. At this point, MBIA is trading at a more than 80% discount to its share price a year ago.

MBIA has been adamant about its view that it has sufficient capital -- about $17 billion -- to pay claims should a deteriorating economy result in debt defaults.

Tilson , I hope you're taking notes...


]]> Mon, 10 Mar 2008 16:06:06 -0400
The embattled Armonk, N.Y.-based bond insurance outfit, which has raised some $2.6 billion in capital from private and public investors to appease Standard & Poor's and Moody's Investors Service, believes that it can snatch up new insurance and reinsurance policies from smaller firms that might be facing runoff -- a process in which they collect fees on policies they already insure, but pursue no new business -- or are otherwise hampered, CEO Jay Brown tells TheStreet.com.

"We have a clear opportunity. A number of companies look like they are going to go into runoff," Brown notes.

For his part, Brown has been scrambling since returning to MBIA as CEO last month to breathe new life into the world's largest bond insurance company. MBIA, the largest financial guarantor, and its next largest rival Ambac Financial(ABK - Cramer's Take - Stockpickr) have been swept up in perhaps the most harrowing financial turmoil the debt insurance sector has experienced in three decades. The guarantors have also been the target of short-selling hedge fund manager Bill Ackman, who has lobbed frequent verbal grenades at the companies through the press and his writings.

"Look at all the companies affected the most and you look at how much capacity the firms that have underwritten insurance. They don't have enough capacity," Brown says. Without being explicit, Brown said a number of the smaller guarantors may be susceptible to falling into runoff.

Still, restoring confidence among shareholders continues to be an uphill battle.

MBIA has so far underwritten "very little new business," according to a recent filing with the Securities and Exchange Commission. But Brown is optimistic that the pall surrounding the company will dissipate in the wake of S&P and Moody's affirming MBIA's pristine triple-A rating last month. The CEO also noted that MBIA wrapped up a public finance insurance deal for a $377 million toll road project. But the insurer will likely face further writedowns next quarter in areas tied to mortgage-tainted securities, including home equity mortgages that have dropped recently.

As a part of its restructuring efforts, MBIA announced late Thursday that it was cutting 48 positions, as it retools its structured finance insurance business. Brown's larger restructuring plan involves splitting up MBIA's more risky structured finance business from its safer, more conservative job of insuring debt for municipalities. The CEO has said the split may take up to five years to complete.

Some of the new staffers MBIA plans to hire in the near term will be part of a strategic financial group that will help the firm achieve its goal of underwriting conservative insurance policies. MBIA plans to steer clear of funky structured debt and staffers in its strategy group will help it figure out ways separate out its structured book of business.

Brown has said publicly that splitting up the structured book from the municipal business should help it secure future funding at attractive rates and help restore the guarantor's image to potential clients. At this point, MBIA is trading at a more than 80% discount to its share price a year ago.

MBIA has been adamant about its view that it has sufficient capital -- about $17 billion -- to pay claims should a deteriorating economy result in debt defaults.

Tilson , I hope you're taking notes...


]]> http://seekingalpha.com/article/67437-dissecting-mbia-s-letter-to-owners?source=feed#comment-123079 123079 Thu, 06 Mar 2008 13:23:35 -0500 http://seekingalpha.com/article/66462-the-jury-is-still-out-on-the-monolines?source=feed#comment-122718 122718 Wed, 05 Mar 2008 21:52:54 -0500 http://seekingalpha.com/article/67255-what-s-going-on-with-bond-insurers?source=feed#comment-122712 122712 Wed, 05 Mar 2008 21:40:29 -0500 http://seekingalpha.com/article/67254-third-avenue-why-mbia-is-a-good-buy?source=feed#comment-122609 122609 For the record I am long ABK and MBI. I began buying ABK and MBI after reading several articles on aforementioned companies in Barron's, Wall Street, adn IBD, as well as noting how large funds(Davis Select, Third Avenue), and other investment firms ( Warburg) with much more knowledge than I, stated how undervalued for the "long term" these companies were [are]... ]]> Wed, 05 Mar 2008 17:38:56 -0500 For the record I am long ABK and MBI. I began buying ABK and MBI after reading several articles on aforementioned companies in Barron's, Wall Street, adn IBD, as well as noting how large funds(Davis Select, Third Avenue), and other investment firms ( Warburg) with much more knowledge than I, stated how undervalued for the "long term" these companies were [are]... ]]> http://seekingalpha.com/article/66485-ambac-mbia-are-still-shorts-amidst-this-wink-and-nod?source=feed#comment-120456 120456 CNBC), the street.com, and Aplha dog stopped for just a few weeks people would realize what a waste of time it was to read what he and his backers, or should I say fellow shorters stated, and realize that these companies will recover and prevail. I wonder if the people who write here know more than Pincus, Davis fund, and other huge investors that have invested millions and millions of dollars..recently and at much higher stock levels than the present share price . Does anyone think that they would invest in a losing concern? I think not. I wonder if there will be articles written about other apects of the monolines, like ways they can procure new business with their affirmed ratings. Stop bashing, and lets help with thoughts and positive ideas... ]]> Thu, 28 Feb 2008 19:53:04 -0500 CNBC), the street.com, and Aplha dog stopped for just a few weeks people would realize what a waste of time it was to read what he and his backers, or should I say fellow shorters stated, and realize that these companies will recover and prevail. I wonder if the people who write here know more than Pincus, Davis fund, and other huge investors that have invested millions and millions of dollars..recently and at much higher stock levels than the present share price . Does anyone think that they would invest in a losing concern? I think not. I wonder if there will be articles written about other apects of the monolines, like ways they can procure new business with their affirmed ratings. Stop bashing, and lets help with thoughts and positive ideas... ]]> http://seekingalpha.com/article/66462-the-jury-is-still-out-on-the-monolines?source=feed#comment-120455 120455 CNBC), the street.com, and Aplha dog stopped for just a few weeks people would realize what a waste of time it was to read what he and his backers, or should I say fellow shorters stated, and realize that these companies will recover and prevail. I wonder if the people who write here know more than Pincus, Davis fund, and other huge investors that have invested millions and millions of dollars..recently and at much higher stock levels than the present share price . Does anyone think that they would invest in a losing concern? I think not. I wonder if there will be articles written about other apects of the monolines, like ways they can procure new business with their affirmed ratings. Stop bashing, and lets help with thoughts and positive ideas... ]]> Thu, 28 Feb 2008 19:49:43 -0500 CNBC), the street.com, and Aplha dog stopped for just a few weeks people would realize what a waste of time it was to read what he and his backers, or should I say fellow shorters stated, and realize that these companies will recover and prevail. I wonder if the people who write here know more than Pincus, Davis fund, and other huge investors that have invested millions and millions of dollars..recently and at much higher stock levels than the present share price . Does anyone think that they would invest in a losing concern? I think not. I wonder if there will be articles written about other apects of the monolines, like ways they can procure new business with their affirmed ratings. Stop bashing, and lets help with thoughts and positive ideas... ]]> http://seekingalpha.com/article/66101-mbia-s-p-and-what-aaa-really-means?source=feed#comment-119422 119422 Tue, 26 Feb 2008 17:34:50 -0500 http://seekingalpha.com/article/66101-mbia-s-p-and-what-aaa-really-means?source=feed#comment-119417 119417 Tue, 26 Feb 2008 17:28:44 -0500 http://seekingalpha.com/article/65789-thoughts-on-ambac-bailout-mbia-berkshire-s-muni-bond-backing?source=feed#comment-118786 118786 ]]> Mon, 25 Feb 2008 12:46:46 -0500 ]]>