3 replies to this topic

[greenie]

http://online.wsj.co...p_us_whats_news


M**f**r Lehman brothels - hope they get the same fate Bear Stearns is destined to.

Someone should take those Wall Street manipulators and boil in hot water alive.

[OEXCHAOS]

http://online.wsj.co...p_us_whats_news


M**f**r Lehman brothels - hope they get the same fate Bear Stearns is destined to.

Someone should take those Wall Street manipulators and boil in hot water alive.

I'm having troouble seeing what the problem is. Not to say that Lehman doesn't run a brothel--they always have, I'm told. But a delayed deal? In this market? Big surprise that!

Bought some NRO yesterday at north of a 13% yield. I suspect that I'll get 23-33% out of that in a year and not lose much sleep either.

M

[greenie]

[quote name='OEXCHAOS' date='Aug 7 2007, 06:50 AM' post='305435']
Someone should take those Wall Street manipulators and boil in hot water alive. [/quote]

I'm having troouble seeing what the problem is. Not to say that Lehman doesn't run a brothel--they always
[/quote]

I was short REITs in May and IYR was dropping fast. Then one morning, there was a huge bounce. Yes, there was a big news - ASN was being bought by PE for $64.

Things went downhill since then, both for IYR and ASN. The ASN deal was repriced to 60 and then 56. Now comes news that it is being postponed. I am sure they are having trouble finding enough suckers to buy those debts, and finally Lehman will choke on to it. They deserve it for me losing one day of sleep.

Your NRO is run by Lehman, BTW. Good luck

[OEXCHAOS]

Someone should take those Wall Street manipulators and boil in hot water alive.

I'm having trouble seeing what the problem is. Not to say that Lehman doesn't run a brothel--they always

I was short REITs in May and IYR was dropping fast. Then one morning, there was a huge bounce. Yes, there was a big news - ASN was being bought by PE for $64.

Things went downhill since then, both for IYR and ASN. The ASN deal was repriced to 60 and then 56. Now comes news that it is being postponed. I am sure they are having trouble finding enough suckers to buy those debts, and finally Lehman will choke on to it. They deserve it for me losing one day of sleep.

Your NRO is run by Lehman, BTW. Good luck

Yup. Lehman owns NB. But NB does have some autonomy.

Meanwhile, I'm up a couple % on my investment and the NAV is a point+ higher. They're paying me over 13% to take a risk that their securities haven't been about as fully discounted as they can get or that they won't appreciate or that the discount to NAV won't shrink.

I guess the real question is, does greenie know more about the future value of those securities or does the street. I'm betting that they're both too pessimistic and that the same things that make greenie confident are the same things that are making folks sell securities at uneconomic prices. His confidence is their panic is my opportunity.

Of course, I could be wrong. But in 25 years of this, I've found that this approach is a good one. It's called "Value Investing". I diversify in order to minimize any pain a mistake may cause and maximize my opportunities for gains.

Mark