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Institutional Financial Markets, Inc. Message Board

  • ethison ethison Mar 23, 2011 6:27 PM Flag

    Enough $

    I wonder if IFMI has enough cash to execute their plan.

    Maybe I'm wrong, but it really doesn't seem like they have enough money to do anything big. Trade, yes, but if the CLO, CMO, CDO market were to open up do they have enough money to actually finance the equity portion of deals?

    I imagine that the Cohens would have access to big $ as they cash out of their natural gas investments. I also think they would have "friends" that would invest in some form to make things happen.

    I wonder if they can buy back big pieces of the Alesco CDOs at huge discounts in order to make them viable. RAS continues to tweak it's two live securitizations. I could imagine that there might be enough interested parties that would eagerly sell their positions for huge discounts to make the deals flow cash again. This might not take lots of cash. Also, I haven't read all of the deals, but maybe they could use cash withing the CDOs themselves to buy back the lower taunches. (I think that the cash might need to first go toward the first traunch once the OC trigger is hit). But push back that trigger and the lower down folks will get some money flowing their way.

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    • I would prefer that they manage big piles of OPM and get fees for it:-) I will take my small cut.

      And yes, that $30 million put a smile on Cohen Bros's commercial banker's face and kept the company out of 11!

      The biggest sin was letting AFN sit idle for a full year until they were able to line up the deal. I think they needed to ensure thy would get the votes. I didn't buy any common until after the merger.

    • Daniel's model is simple: Rent A Desk.
      Collect his cut from tenants who live off their old Rolodex clients. Maintain offices all over the world and in Florida.

      2010 annual report:
      Total revenues 125,552
      Total operating expenses 116,810
      Operating income / (loss) 8,742

      This is nothing but "All You Can Eat" operation.

    • At current price of 4.54 with EPS of .73 , div of 4.4% what's there not to like here. Very low volume which bodes well if people discover the stock after several qtrs of good earnings.
      Looking forward what's the problem ? Don't care to hear anymore of the history. I was an Alesco investor.

      • 1 Reply to ed31540
      • I'm a shareholder. I like it.

        All I was pointing out was the fact that they don't seem to have an endless amount of cash as they did just 4 years ago when everything was easy.

        I guess they just hope the securitization market will come back, but they are not counting on it to keep IFMI viable and making money.

        Can't you speculate a little with me? I like to ponder the possible:-)

    • Hi E, I've always had a great deal of respect for your posts. In a more or less humerous fashion I was reading this one and enjoyed your use of the words imagine and wonder. Yes, I like you have always imagined and wondered what could have been for us if the Cohens hadn't made it their goal to steal everything they could from us. They most likly do have lots of cash on hand to do something, OUR CASH!
      I agree that there are a number of people around who would sell what they have at any price to our million dollar boys and be glad to be rid of them.

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