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Novation Companies, Inc. Message Board

  • shrewd_investor99 shrewd_investor99 Nov 10, 2007 12:17 PM Flag

    Azteca_Ace is a failure!

    He, Old Man Knows, Deep Sand, GM to be Bankrupt et al were 100% correct that NFI was a PONZI scheme that could only be successful as long as the real estate market kept going up and NFI could sell secondaries and new preferred issues to pay out the ever increasing taxable income which far exceeded GAAP earnings. They are failures because they couldn't convince the believers that they were right and the Bunny, Bovine, aok et al were dead wrong (they were). They had a chance to be real heros and save many retired people their life savings which was many millions of dollars. Investing in NFI and the other sub prime mortgage REITS caused great devastion to many.

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    • He, Old Man Knows, Deep Sand, GM to be Bankrupt et al were 100% correct that NFI was a PONZI scheme that could only be successful as long as the real estate market kept going up and NFI could sell secondaries and new preferred issues to pay out the ever increasing taxable income which far exceeded GAAP earnings. They are failures because they couldn't convince the believers that they were right and the Bunny, Bovine, aok et al were dead wrong (they were).
      -------------------------------------------------

      You will find that 10 out of every 4 people still support bush. Just as you will not be able to convince them, you could not convince the people who were riligious about this stock. There just no way to deal with and convince stupid!

    • No, they have one life left: It consists of the last mortgages they originated that remain on their warehouse lines.

      When those are gone, THEN Novastar will be out of lives.

    • NFI has 5 lives out of 9 left. Meow meow meow meow MEEOOOWWWW!

      Coach A

    • Azteca_ACE!

    • COACHA.

      Thats my strategy as well wait for the cc and probably buy on the cheap.

    • You've got to love it. This volley of posts about drugs has kept your name on the top of this board. You might disagree with me about NFI, but you do add entertainment to this board.

      Coach A

    • Your use of the substance, in context, defined it as a drug.
      It is an illicit drug....in Texas:

      Sec. 24-2. Model glue.

      (a) As used in this section the term �model glue� shall mean any glue or cement of the type commonly used in the building of model airplanes, boats, and automobiles, containing toluene, acetone, or other solvent or chemical having the property of releasing toxic vapors.

      (b) No person shall, for the purpose of causing a condition of intoxication, euphoria, excitement, exhilaration, stupefaction, or dulling of the senses or nervous system, intentionally smell or inhale the fumes from any model glue.

    • Both posts on illicit drug taking, making sure each ID refers to a different drug.
      Not clever.

    • I thought the CC would be horrendous too. But if that's what is expected, and if it's just really bad, it will be over $6 before you can blink. I thought the CC would take it under $5, but since its already there, and that it seemed not to be able to break under $4, and that the RSI had been climbing, and the volume seems to be increasing.......

      Risky, yes, but one thing for sure, ass-ticked_ass IS a failure.

    • The negative events that have contributed to the sputtering of NFI have also curtailed the operations of every mortgage and lending institution. NFI has simply tried some unorthodox methods in the hopes of making it through this crisis that is now affecting the entire economy. They failed but are still in the game.

      Ever since their 1st quarter report, they have been upfront about the risk factors and that they were going to look for alternative strategies to stay afloat. Yeah, I did not like the reverse split. I still do not like their poor job of public relations. But they finally pulled something off that they were trying to do - the Saxon deal and paying off DB and WB.

      They have been way too proactive to suggest that they are a business going BK. Look at Countrywide. They are also struggling and they are one of the giants in the industry.

      Pending the upcoming CC, I might even buy more shares. "Sheesh", 500 shares for less than $2,500? Are you kidding me?

      Coach A

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