I would hope that the MI industry comes out in defense of this article. Its about time Sanford A. Ibrahim speaks in defense of RDN, especially after this cheap shot article. They owe it to its shareholders.
This article and its content could have been written any time since 2008-09 and would have applied then, this is a very naive author, who hasn't looked at reality. Without the insurers and a colapse in increased forclosures we'll have bread lines and a revolution that will shred both our economic system, and conference in Democracy. The Gov't won't force the banks to increase significantly the forclosure rate and regardless of the time frame of squaters they'll be subsidized and the screwed up system will continue to exist. We'll see a rally of sorts starting very soon, and those who shorted RDN will regret unless they cover very soon. Earnings will beat, and New Business will drive the equity higher.
Excellent summary of RDN's outlook, despite this article's misguided view. Long and strong RDN. If RDN drops further, I will buy more shares. Bring it on!! It's not a matter of "if", but "when" RDN begins a significant climb. Could be soon, very soon, but even if it takes 2-3 years, I'm OK with that. Good luck to all...
Thanks for addressing specific points. Not worried about this. Sounded to me already like a rearview mirror article. Most of these are worse than worthless and anyone who does much contrarian investing gets used to seeing and shrugging off that sort of thing.