Paul E. Meisel

6 Comments

    • An Involuntary Transaction: Why BAC + CFC May Never Close [view article]
      I have not been following CFC in detail as that play looked just too risky to me. BAC, on the other hand, decided to take some risk on the shotgun marriage -- in my opinion, based on the thesis that there was some value to salvage, that Countrywide could continue as a national mortgage originator, and therefore gain BAC share in an area that it is below average in....

      I haven't seen anything that permanently disables that thesis. CFC equity and debt holders are certainly going to take some losses, the question is how much.       May 07 03:03 PM
    • 'Renting' Stocks For Dividend-Dividend Capture [view article]
      We played around with this in an investment class in graduate school 30 years ago. The correct class answer was that markets are efficient, but students were able to create examples similar to yours.

      I wouldn't think much of it as a mainstream investment strategy, but if someone took 10% of their portfolio to do this as a hobby, that could make sense -- more as an intellectual exercise than as an investment strategy.       May 07 01:02 PM
    • How Long Until the Housing Market Recovers? [view article]
      I don't know about anybody else, I just got a 3% down mortgage, 3% seems very reasonable to me. 20% down is nice if you have the cash available, but it didn't make sense to me to borrow against the IRA just to put it in the down when I could borrow from the mortgage company instead. May 07 12:57 PM
    • Sentiment Is Slow to Change: A Basketball Lesson, Part I [view article]
      Excellent. Apr 08 11:18 PM
    • Bubbles Aren't Bubbles - Or Are They? [view article]
      Ned -- you are right, and "efficient markets" are only somewhat efficient. On average, overall, they always correct, but how wrong are they, for how long? Anyone who understands statistical thinking can allow for error... now we are just talking about how much, like that famous woman of negotiable virtue. Apr 08 11:07 PM
    • Risk Management Lessons from Bear Stearns [view article]
      This suggests to me that the credit rating agencies have less utility than heretofore thought. Apr 02 08:08 AM
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