WHITE PLAINS, N.Y., April 11 (Reuters) - Beazer Homes USA,
Inc. (NYSE:BZH - news), an Atlanta, Georgia-based homebuilder, sold $350
million of 10-year senior notes in the 144a private placement
market, said market sources on Thursday.
UBS Warburg was the sole lead manager for the sale, the
BORROWER: BEAZER HOMES USA, INC.
AMT $350 MLN COUPON 8.375 PCT MATURITY 4/15/2012
TYPE SR NOTES ISS PRICE 100 FIRST PAY DATE 10/15/2002
LAST MOODY'S Ba2 YIELD 8.375 PCT PAY FREQ SEMI-ANNUAL
LAST S&P BB SPREAD 317 BPS NON-CALLABLE 5 YEARS*
MORE THAN TREAS
*3-YEAR EQUITY CALL FOR 35 PCT AT 108.375
<<<Maybe things are really as bad as you've been arguing they are for the past month>>>
You missed the whole, enite, complete, total point of why I am short builders. I am here not because things are bad. I am here because stocks are overvalued. They are overvalued based on the premice that "things are different now". They are traded at a historically huge premium to their book value. They are expected to earn more this year, and next and the year after.
Things don't have to be terrible for the industry for builders' stocks to collapse.
Once again, you missed the whole point.
yuri, "my dear beloved friend" (your words)
Geez...for an economy as far on the rocks as ours evidently is, according to your numerous references---the futures, Dow, Nas, and S&P's---are sure up in a hefty mode....???
Maybe things are really as bad as you've been arguing they are for the past month, or longer, yuri, "My dear beloved friend,"
And don't forget, mdbf, I've already said I'd be the first to acknowledge you if your gloom and doomsday theories prove to be right...
But the day's not over yet...metaphorically speaking. Let's set a time frame...how about Sept 1, 2002. Let's see where we're at then, and we'll compare that to your dire predictions.
<<<You might want to think about housing starts and building permits that are going to hit the wire tomorrow and on Tuesday. Because if they aren't that good, that big, big, big article at Barrons is going to take on a very ominous meaning very, very, very fast>>>
From your faithful comrade and not so very astute investor. Heh, heh.
I am happy for your investment return in hywd, the video folk. I actually had that stock at $6 about three years ago, and it went down much lower as I recall. A broker had bought if for me. I sold at a loss.
But we are dealing with the builder stocks, and that is a different story...
And, yuri, I would be happy to be your "most beloved friend," but I don't know you and you would have to change some behaviour before we can be really chummy...but I do like your atttitude of Christian love and forgiveness (forgiveness of my calling you a smartass, arrogant, blah, blah, blah...). I do like the Budhhist approach, I am respectful of Ghandi, etc. as well as Jesus. We have too much macho stuff in the world today...
<<<That list of tech stocks you reeled off at the end>>> blah, blah
My most beloved friend, you should have seen how much greef I got from the likes of you for this one when I bought it for $1. You do know where it is now?
I didn't realize how much help you need!
That list of tech stocks you reeled off at the end of your speech...my friend (now you've got me doing it), listen, forget the Advisory and Renovation Committee and the Special Clinic...go to your nearest sane stock counselor, and run that list by them, and then give them the keys to your stock trading account, your lock box, check books, Ferrari and any cash you have, and tell them not to let you get near any computer that has access to an on-line account. Do nothing for a month, then check back with us. If LU, GLW, AOL and some of those others are still in business...well, maybe you can have some mad money to buy a few shares while you're still in rehabilitation.
SEBL, BEAS and EMC, if you must. But the rest,
<<<But check the charts on NVR, MTH, HOV and others...rock and roll time>>>
Time to lock profits? No, what if they go higher!
And when they pull back let say 10%? That would be normal profit taking.
Down 20%? Healthy consolidation!
Down 30%? Need to buy more, they are now a bargain.
Down 40%? Would be stupid to sell this low.
Down 50%? Hmmmm, something is wrong.
Down 60%? Hmmm, something is definately wrong.
Down 70%? Well time for tax loss selling.
Happy investing. Rock and roll time never ends. It's different now.
Gold has traditionally been a safe haven in times of global turmoil, imminent wars, etc, and as a hedge against inflation. That has changed. From a high of $800+ in the early '80's, gold has sunk to lows of mid-$200+, and is currently hovering around the $300 mark. In the old days, it would have shot up maybe $50+, with the mid-East crisis. But gold has lost its glitter.
Oil has been coming down in the past week. Remember when it hit the mid-$30's or higher in the Gulf War crisis. Now it's what...$25? and probably going lower. Builders...down. Well, iou, you and your dear friend yuri, and some other shorts, have been predicting the collapse of the housing/building market for weeks now, and other than the three week correction we had, several housing stocks continue to reach new highs on a succession of runs.
Just because you are short, doesn't mean you have to try to create your own reality. That's why I keep pointing to the chart to the right of the messages...that's the bottom line. And those charts have been up a whole more than they've been down, past weeks and months.
Now eventually, a level will be reached. BZH is not a great example of my premise, since it has retreated more than most of the housing stocks. But check the charts on NVR, MTH, HOV and others...rock and roll time.
<<Yuri, I don't relish being rude to strangers, but I feel impelled ... to respond
to posts ... arrogant, uniformed, illogical, etc, if they are directed at me>>>
Yes, my friend, I am sure you feel impelled.
<<<Now I am concluding you need help more than iou does>>>
Yes, my dearest friend, please help me. Give me some hearty home-spun advice.
<<<you are in more serious need>>>
Yes I am. How did you know, my dear kind-hearted man? Tell me more.
<<<I suggest that you check yourself in for some serious therapy>>>
Could I use your therapist? That would be..peachy!!!
<<<perhaps for at least a week, in-house, in their clinic for Special Cases>>>
Maybe even twice a week, or perhaps thrice?
My friend, my beloved pall, do not stop there. Please, do not restrain yourself. Unleash your fury. Tell he how it is. Come under another alias and call me names. That would make you feel better.
Let us not talk about homebuilders. Let us talk about Yuri. That's what we are here for, on this board. To ask Yuri when he shorted, how much money he made/lost. To tell Yuri that he needs some therapy. To engage into self-righteous narcissism. Keep it up sport. Make sure your word is the last.
You might want to think about housing starts and building permits that are going to hit the wire tomorrow and on Tuesday. Because if they aren't that good, that big big big articles at barrons is going to take on a very ominous meaning very very very fast. And when all the sell side dudes with vested interest come out tomorrow, to tell you that you should use weakness to buy more builders --- listen to them. Buy more builders.
You buy builders, I'll short builders and I'll buy technology. I'll buy all those LU, GLW, SUNW, EMC, AOL, TXN, VIGN, ET, ACTU, SEBL, BEAS, EXTR, PROX, ISIL, SSTI, etc, etc, etc. The crap that no one wants. the glory will be yours me friend.
Keep it up.