Of course I bumped it. I did that because I posted that "I sold 60,000 shares of RDN around $2.40" and you bumped that as it went higher. That was a cheap shot imo as I gave my reasonings (either right or wrong). Anyway, I think there is good value left even if RDN comes close the 25:1 risk to capital ratio. I honestly think that if RDN can do a secondary offering (even at a price a little higher than this), they will most likely survive. I know most long term shareholders are against this but RDN is most likely going to fall $250-$500 million short by the time the housing market makes its confirmed bottom (which I think is happenning right before everyone's eyes). If RDN can do an offering of about 100 million shares around $3, that would dilute the stock heavily but would bring in $300 million. By the way, im not being literal about 100 million shares around $3 but that is my guess around this time. I would also be very firm with the decision that RDN buys back their 2013 and 2015 debt with the offering money. Who knows how much the debt will trade at by the time they do this? Either way you look at it, this is a time that RDN should not be picky in the offering price imo.
I hope you guys realize that Joe just bumped my post from November 8th, NOT the other way around. I think we are getting close to a level of re-entry here. I give credit where credit is due and paidbasher was right about everything in the last few weeks. My whole reason for owning was that I thought RDN could stay under the 25:1 ratio but they clearly can't and for this reason I will have to wait until an extreme selloff before re-entering. I still think they will survive, but as paidbasher says, the credit markets don't think so.
Cedarvalley...you are like a dog with a bone.
Why don't you just give it a rest?
You made your original point when Joe bolted. He disclosed an educated move based on disclosed parameters that even to the uniformed, made sense. He's bought back into the game since. Quite frankly, many of us enjoy & benefit from your treatises...while, on the other hand, your relentless sophomoric engagements with Joe have become distraction at best, if not disappointing.
Based on your perceived intellect and play, I expect better from you. Save the bashing for paidbasher and his ilk.
"Not too late to get back in Joe". That was on November 8th when the stock was around $3.40, yet you wrote on November 10th that you sold a lot around $3.20. Then bashing that I bought 20,000 at $2.39. What kind of advice is this? BTW, do you really think people dont realize that your other id is imsillc? Come on. Not everyone on this board is from the South.
Cause he posted in the same thread as me with a similar opinion? Or cause he posted on the SD board a year ago when I was posting alot? I think you have lost your mind, Joe. Good luck at whatever you do. You were right all along with RDN, but then got scared out of your position by 'paidbasher' and his multiple IDs. I admit he is somewhat convincing to somebody who does not do their homework, but he's been called out on his lies now. What happened to the bonds trading at 47 cents on the dollar? LOL
Not too late to get back in Joe. Still relatively near the 52 week low and the momentum has shifted.