BDHPlayer's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/242555/comments http://seekingalpha.com/article/177159-how-banks-fail-at-foreclosure-auctions?source=feed#comment-796595 796595
Here's a link to that article:

www.azcentral.com/ariz...]]> Tue, 08 Dec 2009 14:49:19 -0500
Here's a link to that article:

www.azcentral.com/ariz...]]> http://seekingalpha.com/article/160222-making-capital-gains-or-getting-12-dividends-with-ing-cumulative-preferred-shares?source=feed#comment-665777 665777 Tue, 08 Sep 2009 00:53:48 -0400 http://seekingalpha.com/article/158308-attractive-and-secure-monthly-cef-distributions?source=feed#comment-648301 648301

On Aug 26 04:11 PM GlobalTrekker wrote:

> User 445849,
>
> Where did you hear about the div cut? Even their public desk was
> unaware. The delayed dividend announcement was a tip off. Quite a
> big drop: 12% cut.
>
> Joe Eqcome,
>
> Like your posts and analysis, but I think there is a limit to this
> type of screening analysis. A much more valid approach would be back-testing
> these hypotheses on random time intervals and seeing if the short-term
> return was greater than the S&P or appropriate bond index over
> that interval. I really have doubts about most of these picks. DHF
> and FAM both look like a bunch of crap that have underperformed compared
> to their indices. It's just their discounts have fallen. DHF with
> a 3.1% management fee is appalling compared to JNK's 50 b.p.s fee.
> And FAM is a disaster waiting to happen at 29% leverage and a completely
> unjustifiable 3.6% management fee.]]> Thu, 27 Aug 2009 00:18:52 -0400

On Aug 26 04:11 PM GlobalTrekker wrote:

> User 445849,
>
> Where did you hear about the div cut? Even their public desk was
> unaware. The delayed dividend announcement was a tip off. Quite a
> big drop: 12% cut.
>
> Joe Eqcome,
>
> Like your posts and analysis, but I think there is a limit to this
> type of screening analysis. A much more valid approach would be back-testing
> these hypotheses on random time intervals and seeing if the short-term
> return was greater than the S&P or appropriate bond index over
> that interval. I really have doubts about most of these picks. DHF
> and FAM both look like a bunch of crap that have underperformed compared
> to their indices. It's just their discounts have fallen. DHF with
> a 3.1% management fee is appalling compared to JNK's 50 b.p.s fee.
> And FAM is a disaster waiting to happen at 29% leverage and a completely
> unjustifiable 3.6% management fee.]]> http://seekingalpha.com/article/147992-shorting-las-vegas?source=feed#comment-582139 582139
In March I spent 3 nights at Wynn for free including $100 of slot credit. After running the slot money through the video poker machine, I cashed out for $90.

Only action they received was in the poker room which is not the type of margins they are looking for.


On Jul 10 08:48 AM TCK wrote:

> After living in Las Vegas for over 5 years, I think I can say that
> the business model has failed. Over priced rooms and meals combined
> with horrible games is a bad strategy for success.
>
> Their only minor achievement has been to convince the tourist that
> $100 per night for a room is now a "good deal ".]]> Fri, 10 Jul 2009 10:32:32 -0400
In March I spent 3 nights at Wynn for free including $100 of slot credit. After running the slot money through the video poker machine, I cashed out for $90.

Only action they received was in the poker room which is not the type of margins they are looking for.


On Jul 10 08:48 AM TCK wrote:

> After living in Las Vegas for over 5 years, I think I can say that
> the business model has failed. Over priced rooms and meals combined
> with horrible games is a bad strategy for success.
>
> Their only minor achievement has been to convince the tourist that
> $100 per night for a room is now a "good deal ".]]> http://seekingalpha.com/article/146971-cef-funds-review-worst-to-first?source=feed#comment-574495 574495 Sun, 05 Jul 2009 11:31:25 -0400 http://seekingalpha.com/article/144994-money-center-banks-to-re-default-on-their-loan-modifications?source=feed#comment-560704 560704 Wed, 24 Jun 2009 14:06:14 -0400 http://seekingalpha.com/article/143572-the-reverse-convert-scam?source=feed#comment-550477 550477 Wed, 17 Jun 2009 12:14:16 -0400 http://seekingalpha.com/article/139844-gm-secured-lenders-to-get-full-repayment-why-not-chrysler?source=feed#comment-519751 519751 Wed, 27 May 2009 12:37:25 -0400 http://seekingalpha.com/article/138777-bank-of-america-shares-now-worth-less?source=feed#comment-511914 511914
The question is whether earnings per share will increase or decrease because of the additional shares issued.]]> Wed, 20 May 2009 16:03:46 -0400
The question is whether earnings per share will increase or decrease because of the additional shares issued.]]> http://seekingalpha.com/article/134314-credit-default-swaps-may-be-playing-a-supporting-role-in-chrysler-bankruptcy-filings?source=feed#comment-484562 484562
The bankruptcy process should protect the secured lenders and modify the union contracts to make them competitive with the contracts of domestic based non union auto manufacturers.

Why would anyone want to lend to Companies on a secured basis for the low interest rates that secured loans pay?
]]> Thu, 30 Apr 2009 15:35:09 -0400
The bankruptcy process should protect the secured lenders and modify the union contracts to make them competitive with the contracts of domestic based non union auto manufacturers.

Why would anyone want to lend to Companies on a secured basis for the low interest rates that secured loans pay?
]]> http://seekingalpha.com/article/124923-bank-and-broker-default-risk?source=feed#comment-419184 419184
Which market is right?]]> Mon, 09 Mar 2009 11:25:18 -0400
Which market is right?]]> http://seekingalpha.com/article/120138-geithner-s-plan-ignores-mark-to-market-where-s-the-beef?source=feed#comment-385522 385522 Thu, 12 Feb 2009 10:23:31 -0500 http://seekingalpha.com/article/120148-another-round-of-farcical-congressional-hearings?source=feed#comment-385510 385510
Just watching the monkeys from DC is enough to short the entire economy. As usual, the politicians don't have a clue.

Waiting for a Saturday Night Live skit to give the answers that Dimon et al really wanted to give. Starting that Barney Frank and his cronies are responsible for the housing crisis.]]> Thu, 12 Feb 2009 10:18:46 -0500
Just watching the monkeys from DC is enough to short the entire economy. As usual, the politicians don't have a clue.

Waiting for a Saturday Night Live skit to give the answers that Dimon et al really wanted to give. Starting that Barney Frank and his cronies are responsible for the housing crisis.]]> http://seekingalpha.com/article/118664-capital-crossing-preferred-corp-too-cheap?source=feed#comment-377915 377915
The 12/31/08 financials will give a better clue of where Lehman Brothers Bank stands.


On Feb 05 07:30 PM User 351933 wrote:

> Despite the fact that the potential return has grown on this play,
> I still do not find the risk-return favorable.
>
> In the prospectus for CCPCN, it reads: "The returns from your investment
> in the Series D preferred shares will depend to a significant extent
> on the performance and capital of the Bank. A significant decline
> in the performance and capital levels of the Bank or the placement
> of the Bank into bankruptcy, reorganization, conservatorship or receivership
> could result in the automatic exchange of your Series D preferred
> shares for preferred shares of the Bank, which would represent an
> investment in the Bank and not in us. Under these circumstances."
>
>
> So how healthy is the Bank?
>
> The Bank currently has a 2.2 billion claim against Lehman Bros. Holdings,
> for loans that were to be purchased by them on Sept. 15. But bankruptcy...
>
>
> Let's assume that the 2.2 billion lawsuit delivers nothing for the
> Bank. It is then my suspicion that the loans will not be saleable
> at their carrying value. Sept 30, 2008 data from the FDIC (the most
> recent available) shows a YOY drop in equity capital of over 1 billion.
> Current equity capital stands at 1.009 billion. If the 2.2 billion
> has a 10% haircut, that will wipe out over 20% of remaning equity
> capital. I'll let you figure the more gruesome scenarios.
>
> This of course still assumes that all the rest of the banks' assets
> are fine. June 30, 08 to Sept 30, 08 shows a drop of over 700 million
> in equity capital. In sum, I suspect that the Bank is a couple bad
> quarters away from receivership.
>
> See Buffett's rule #1--don't lose money. There is a real risk of
> permanent capital loss on this one.]]> Fri, 06 Feb 2009 02:44:43 -0500
The 12/31/08 financials will give a better clue of where Lehman Brothers Bank stands.


On Feb 05 07:30 PM User 351933 wrote:

> Despite the fact that the potential return has grown on this play,
> I still do not find the risk-return favorable.
>
> In the prospectus for CCPCN, it reads: "The returns from your investment
> in the Series D preferred shares will depend to a significant extent
> on the performance and capital of the Bank. A significant decline
> in the performance and capital levels of the Bank or the placement
> of the Bank into bankruptcy, reorganization, conservatorship or receivership
> could result in the automatic exchange of your Series D preferred
> shares for preferred shares of the Bank, which would represent an
> investment in the Bank and not in us. Under these circumstances."
>
>
> So how healthy is the Bank?
>
> The Bank currently has a 2.2 billion claim against Lehman Bros. Holdings,
> for loans that were to be purchased by them on Sept. 15. But bankruptcy...
>
>
> Let's assume that the 2.2 billion lawsuit delivers nothing for the
> Bank. It is then my suspicion that the loans will not be saleable
> at their carrying value. Sept 30, 2008 data from the FDIC (the most
> recent available) shows a YOY drop in equity capital of over 1 billion.
> Current equity capital stands at 1.009 billion. If the 2.2 billion
> has a 10% haircut, that will wipe out over 20% of remaning equity
> capital. I'll let you figure the more gruesome scenarios.
>
> This of course still assumes that all the rest of the banks' assets
> are fine. June 30, 08 to Sept 30, 08 shows a drop of over 700 million
> in equity capital. In sum, I suspect that the Bank is a couple bad
> quarters away from receivership.
>
> See Buffett's rule #1--don't lose money. There is a real risk of
> permanent capital loss on this one.]]> http://seekingalpha.com/news/market_currents/post/16723?source=feed#comment-374105 374105 Tue, 03 Feb 2009 02:27:00 -0500 http://seekingalpha.com/article/116168-pimco-high-income-fund-look-to-swap-out?source=feed#comment-363878 363878 Fri, 23 Jan 2009 08:16:03 -0500 http://seekingalpha.com/article/106495-cef-yields-may-indicate-a-further-20-drop-in-prices?source=feed#comment-309386 309386 Tue, 18 Nov 2008 18:57:14 -0500 http://seekingalpha.com/article/99091-what-will-happen-to-closed-end-funds?source=feed#comment-278490 278490
hedge funds are selling their investments in leveraged loans like there is no tomorrow. I'm guessing that the senior loans are now priced in the mid to low 70's.

On top of that you have discounts of 30% or so on these funds. Even accounting for leverage your buying a portfolio of leveraged loans in the mid 50's.

Using a default rate of 10% and a recovery rate of 50%, you come up with a loss of 5%. Using a 30% default rate, you come up with a 15% loss. Either way, it seems that the prices are way too cheap.

]]> Fri, 10 Oct 2008 01:25:12 -0400
hedge funds are selling their investments in leveraged loans like there is no tomorrow. I'm guessing that the senior loans are now priced in the mid to low 70's.

On top of that you have discounts of 30% or so on these funds. Even accounting for leverage your buying a portfolio of leveraged loans in the mid 50's.

Using a default rate of 10% and a recovery rate of 50%, you come up with a loss of 5%. Using a 30% default rate, you come up with a 15% loss. Either way, it seems that the prices are way too cheap.

]]> http://seekingalpha.com/article/97803-wells-fargo-in-the-lead-for-wachovia-is-bailout-really-necessary?source=feed#comment-268429 268429
There certainly appears that there is value at the holding company. Only question is how much of that is for Wachovia 's common shareholders.]]> Mon, 29 Sep 2008 11:03:46 -0400
There certainly appears that there is value at the holding company. Only question is how much of that is for Wachovia 's common shareholders.]]> http://seekingalpha.com/article/90559-what-s-changed-on-the-seeking-alpha-website?source=feed#comment-228947 228947
You need to provide a way to go back chronologically!]]> Tue, 12 Aug 2008 18:55:54 -0400
You need to provide a way to go back chronologically!]]>