User 165905

MBIA and Ambac: Edge of the Cliff, Ratings-Wise

P14911; You are missing the point; Who are you referring to when using the name "Wall Street". Certainly you can't be excluding the ratring agencies and the monolines themselves, or the banks that refuse to put up more capital. Why should JPM bail out the losers for making bad bets. Who is deceiving who. They are all getting shown the door Wall Street (LEH, BSC, MER) the banks, C, WB, WM, the monlines ABK, MBI, and anybody else that played the dangerous game. Is Vitello and oldlures innocent, well they are big boys if they are speculating on the junk, and should take their loses like men. Bt saying these dogs will return to their glory days and giving bad advice just has to be refuted. He gives no real argument; the days are numbered, and new names are being sent to the firing squad as we speak.

The Case for Berkshire, c/o GEICO

Perhaps you need to do more research for your PHD dissertation' GEICO is probably about 1/3 of insurance operating earnings (can only estimate bad on variance by quarter) and 10% to 15% of BRKA net profits 9also estimate). WEB would be disappointed in you.]

MBIA and Ambac: Edge of the Cliff, Ratings-Wise

Vittello; Perhaps you should let us know whether you have any skin in the game, and what price you paid. That would say a lot about your money management skills and risk tolerance. Since you seem to know the story going back years, I assume you paid well above $2 a share (someplace between 2 and $30, or was it $50). And in either case, why don;t you refinance your mortgage (say 400 grand could give yu another 200K in ABK shares), put some additional funds as of today, to show your conviction. People want to know.

MBIA and Ambac: Edge of the Cliff, Ratings-Wise

You should all double down right here again, which I am sure you have all the way down. MBI and ABK are below IPO prices of 20 years ago, and have lost everything for investors, even those who bought in 1998. You have to try real hard to lose everything, and cumulatively show less than 2% annual total return since inception (dividend mostly). Any body that bought after 1990 got skadooch!!!!
There is a better chance of seeing zero than seeing 4 or 5