Lewis Ranieri, often called the "godfather" of mortgage finance for his role in the securitization of loans and creating mortgage-backed securities, or Lewey as I liked to call him, said lenders should swap debt with distressed home owners:
“If his house was $220,000, and now it’s $90,000, give me the keys, I give you a lease for seven years,” Ranieri, chairman of investment company Ranieri Partners LLC, said during a panel discussion at the Milken Institute Global Conference in Beverly Hills, California. “If you behave well, I will give you back the house.”
Ranieri is famous of course for the depiction laid
Timmy Geithner caught some waves a few weeks ago with his family at Half Moon Bay, just outside of San Francisco. Here's the instructor, who didn't know who all the suits were who came along with Geithner and had to watch. Geithner has been adding some gray hairs to his head in recent months, understandably of course, I'm guessing this is a nice way to release some stress.
If you're in the stock FTWR, you've suffered the past few years. Now, it looks like those who have suffered have decided they don't want to take it anymore. FiberTower Corporation is a provider of facilities-based backhaul services to wireless carriers - an industry that would seem ripe to make money, with the surge in cell phone use and the cell phone becoming a mini-computer, data needs to be backhauled.
The earnings report was poor for FTWR and so the stock dropped over 11%. But that's on top of the $1 drop it's taken the past month. It's
I think the message here is tread carefully into earnings. If a stock has made a nice, slow and steady climb upwards, it's a good idea to take some off or all off ahead of earnings. And especially when the market is at fragile place, what with oil prices causes gas prices to soar and the worry about the Middle East in general. Good to take the whole overall market situation into account.
"Finisar plunged nearly 40 percent in pre-market trading Wednesday after the fiber optics company issued disappointing fourth-quarter guidance, pointing to slowing business in China.
The company said
: As I write this URBN is down 16.29%.
There's always some interesting posts in the Yahoo Finance message board
, especially when a stock is getting hit after hours on an earnings miss. Such is the case for URBN, Urban Outfitters, the retail stock, most known "funky" fashion and almost kitchy type of products, is down over 10% right now.
Urban Outfitters (URBN 33.33, -4.66, -12.27%) shares slumped 9.6% to $34.33 following the Philadelphia-based company’s report that fourth-quarter
net earnings were $75.2 million, or 45 cents a share, down slightly from $77.7 million, or 45 cents, in the
If you're having a tough trading or investing week, say you've made some bad decisions, it's always good to take a look at some quotes from some investing legends. Here's a few quotes that you use to guide you when you're making big decisions:
Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well. – Warren Buffet
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." - Warren
Lloyd C. Blankfein could be a possible witness
in the insider trading trial of Mr. Raj Rajaratnam. The Goldman Sachs CEO could be called to discuss Rajat K. Gupta, who was on the board of directors at Goldman Sachs and allegedly fed insider information to Raj Rajaratnam. Gupta fed info like how Goldman Sachs was going to lose money one quarter or how Warren Buffet was going to invest in Goldman and Rajaratnam then went and traded on that
Posting this just because.
Here's Whitney Tilson's response to why he bought LECG
and how they were more or less just unlucky.
If you’re feeling bad about something, say a bad stock trade you made, where you lost a few thousand dollars, there’s usually someone out there feeling much worse. For example, take a look at Yahoo’s message board for the stock LECG Corporation (XPRT
), where one user had this to say after XPRT dropped nearly 80%:
The title of the message board: I just lost $50k in this TODAY
I am so depressed right now
Bought at .30c, sold at
The documentary about the financial melt down, directed by Charles Ferguson, won an Oscar tonight for best documentary film.
Andrew Sorkin, over at DealBook also has a good Q&A with the