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The First Marblehead Corporation Message Board

  • teamonfuego teamonfuego Jul 11, 2013 1:54 PM Flag

    Just be patient

    My take is a lot of long time holders from 2007 and on are bailing on these bounces. in my opinion it is holding up very well in the face of this selling. Just be patient.

    Remember, this trades at less than book and net cash. While a few banks may still trade at these levels, this is a company with massive upside leverage. They are down from $55 to $1.50 and haven't really rallied that much despite huge improvements in the securitized lending market. The best part is they have ZERO toxic financing to worry about. Most of the financial companies that survived the fallout from 2008 had to take on huge convertible notes or dilute shareholders significantly. Not FMD

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