Going nowhere. That is the reality. No insights from DJ Hammy Ham or Geepersman this week. At least Radian finally announced their earnings date.
Hammy Ham has quite a bit riding on the Q2 since he has all but guaranteed it will be solid. But what if it is not? Hmmm? And Geeperman is probably thinking, "All Good Here, No Worries." Funny how burritos can make a person rich and Radian makes a person twitch! And some can be completely delusional and in denial.
Just my very honest and own opinion, y'all.
Well, not sure what your basis is for your conclusion. Five out of the past six years they have announced 2Q results in August. So are you saying that it is a bad sign that they're being fairly consistent with their reporting date?? But I totally agree that they don't appear to be in a hurry, nor have they been historically. JMO
It means DJ Hammy Ham is smart, Radian will have a great Q2 and we will all be rich.
Proposed GSE Private Mortgage Insurer Eligibility Requirements (PMIERs)
Frequently Asked Questions; July 10, 2014: Top of Page 2:
"Radian has approximately $800 million of currently available liquidity and the potential to monetize or utilize its financial guaranty business (Radian Asset subsidiary) , which had $1.2 billion of statutory capital and an additional $376 million in claims-paying resources as of March 31, 2014. Radian Asset received approval from the New York Department of Financial Services to pay an extraordinary dividend to Radian Guaranty (PMI subsidiary) of $150 million, and we expect to request an additional dividend in 2015."
Per their Q1 earnings presentation, they indicate Radian Asset's Financial Guaranty product line has "$22.7 billion in Net Par Outstanding as of March 31, 2014". It also has $1.2 billion of statutory capital and an additional $376 million in claims-paying resources as of March 31, 2014. So selling that part of their business is something they are exploring "We have also retained an advisor to help us maximize the value of Radian Asset within the transition period."
They also stated: We believe that Radian Asset has significant value, and we are committed to deriving maximum value from the company. (good for shareholders).
Radian Asset has served as a valuable source of capital, approved by the GSEs, since 2008. Radian Asset stopped writing new business in June 2008, and since that time has successfully reduced its exposure by 80%. The majority of our structured finance portfolio, which represents nearly half of the remaining exposure, will mature by the end of 2017." SOOOOOOOOOO - 50% of that exposure goes away by 2017 which means they get access to 50% of the reserves and claim paying resources, or half of $1.576B ($788M), assuming no catastrophic event occurs by then. They could sell Radian Asset now.
Sentiment: Strong Buy
Well, another down day and just what the doctor ordered. Another buying opportunity, right Hammy? The shakeout continues, right Geepersman. But no worries, all good here. I think denial is definitely the word of the week.
Hammy Ham Sandwich continues to say I bring nothing to this board. Yea, maybe he is right if that is what he wants to think. Now lets see, you invest in a company in hopes of making some money on your investment. Right? The market has been on a tear for a year making new highs, even after a few down days. Right? Many stocks are seeing new highs all the time. Right?
Radian has not made any ground in a year. Actually this year it is down 8% and from this time last year, just about flat. In a market that is constantly setting new highs. Radian constantly fails to participate in market rally's and gets hit when the market goes down. Radian can never hold on to gains and eventually comes back down. Now the bottom seems to be falling out and the PPS heading south without any sign of recovery. Last weeks news plus MTG's miss have hammered both stocks.
So far Radian has not announced their earnings date. Really, the only salvation at this point is a good earnings report but I do not feel optimistic. Hammy Ham Sandwich does and Geepersman would be pumping Radian even if it were at $1.00. Is there anyone else out there that may be a little concerned at this point. Cause right now, Red seems to be the new Green for Radian!!!!!!!!