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Latest | Highest ratedNovastar Financial Should Profit From Falling Rates In 2H07 [View article]
I don't agree with the thesis on investing in NFI -- the dividend rate. Please take a look at the cash flow statement of NFI: In 2005, Dividends Paid (202,413) Sale Purchase of Stock 140,001
Net Borrowings 318,707
In other words, the company sold stocks to pay dividend. Hello, Ponzi!
In addition, take a look at the insider sales (zero buys by the way) AFTER the stock plunged!
I am satying away from NFI -- neither long or short. But I do smell something rotten in NFI.