This game is so rigged

Total Rating:
0 / 0

9 Comments

    • Fri Sep 12th 08:03 AM | Rating: 0 0
      Commented on:
      Shanghai Should Continue to Sell Off
      Won't the $1TrillionUSD in their reserves help to alleviate any need for capital by the state banks??
      View article »
    • Thu Aug 14th 11:00 AM | Rating: 0 0
      Commented on:
      The Great Consumer Crash of 2009
      Very comprehensive. But I think Quinn does not give enough credit to the average indebted American citizen. Why would they save when the government devalues their savings by 3-7% per year? M3 has doubled over the past 10 years - and even if you take out the overly exaggerated GDP, it's still a devaluation of 50%. It doesn't make any sense to save dollars, and the average person doesn't know any other way to keep their earnings.

      Can a massive “readjustment” be far off (e.g. the UK in the 1949 and then again in '67)?
      View article »
    • Wed Jul 16th 11:36 AM | Rating: 0 0
      Commented on:
      M/I Homes: Over-Punished by the Markets
      My belief is that there is zero value in the common. The bond holders and pref-A will most likely get all their money back. I, however, will cover between $3-5 per share; because this stock is so lightly traded - heavily shorted - and easily manipulated upward. If the stock hits $20 again - I'll short more.

      Incidentally, I just paid the dividend yesterday (for ex-div 6/27). What a bargain for the shorts!
      View article »
    • Mon Jul 14th 10:35 AM | Rating: 0 0
      Commented on:
      M/I Homes: Over-Punished by the Markets
      Yes Saj,

      My belief is that management is not marking real estate to market (as in the case of a bankruptcy sale). Just to where they believe it's "properly valued". Additionally, $100MM of that book value was "artificially&quo... created when they diluted your common shares with Pref-A. My opinion is that they will "create" another $50-100MM of "book value" with another dilution.

      Many smart people have been arguing that this isn't a book value story; but a cash flow story. To which I respond, after they produce the cash flow to cover their $160MM of annual SG&A - and burn through all their dirt - what do you own as a shareholder?

      They're borrowing your money at 10 cents a share dividend (which is why I don't mind paying your dividends for you) while the stock moves down from $40 to $14.
      View article »
    • Wed Jul 9th 13:43 PM | Rating: 0 0
      Commented on:
      M/I Homes: Over-Punished by the Markets
      Saj, the problem is that $40 (not $50) of real estate on the books was primarily puchased between '04 and '06 - currently dirt trades at about .35 on the dollar (so let's be generous and say book is $16). However, the pref-A eats another $7 of that. And the next dilution (which also "increases" book value) - drops the common book to about $9.

      I'll cover my short at $5.
      View article »
    • Wed Jul 2nd 10:48 AM | Rating: 0 0
      Commented on:
      M/I Homes: Over-Punished by the Markets
      My work shows razor thin margins and a loss of $5 per share this year. With almost no cash (after burning through the $100MM pref from last year); I expect another dilution shortly.

      In my opinion, this is the worst of all the home builders. No upside because of limited footprint - and bk on the downside.


      Disclosure - I'm short of MHO
      View article »
    • Fri May 23rd 09:16 AM | Rating: 0 0
      Commented on:
      Trimming Trina on Solarfun's Beat and Suntech's Earnings
      Trader Mark, if you are truly back in at 46, you're in for a lot of pain. People don't put together this kind of PR push, and come to me to borrow shares if they plan to push for 1 day. TSL sees 30 before it sees 55 - and unfortunately, I'm a perma-long.
      View article »
    • Thu May 22nd 08:18 AM | Rating: 0 0
      Commented on:
      Trimming Trina on Solarfun's Beat and Suntech's Earnings
      Two days ago I get a call to borrow my TSL at 10% - which I lend. Of course if someone is willing to pay 10% to borrow my shares - they must know something. So now, the PR assualt begins. Trader Mark - a solar bull for years starts poking holes - and then the WSJ piece. Who's next - Cramer? Probably.

      Keep up the good work boys - I'll just stick with my TSL at 10x 2008 pe with 30% growth.
      View article »
    • Fri Mar 7th 14:38 PM | Rating: 0 0
      Commented on:
      Long Suffering Trina Solar Finally Gets Some Relief
      Mark, with '08 nearly 100% sold at $800MM with 15% net margin, the company is trading at 6.7 forward P/E.

      What's wrong?
      View article »
Loading...
Symbols:
Authors:
Quick Links:
Contribute an Article Become a Seeking Alpha Contributor

Transcripts

More Transcripts»