Manu turned in another disaterous performance in the epl on saturday with a 0-0 draw with bottom side and relegation favorites burnley, and now have only two points from a possible nine. . Meanwhile they have spent over 235 millon $ on players and are seeing no improvement on the pitch.
it seems other clubs sense their desperation andare extracting exorbitant sums from manu for ordinary players to pile on the pain . See this article from london times : http://www.thesundaytimes.co.uk/sto/sport/football/premiership/article1453173.ece
my advice is dump this pup while you still can. It looks looks a certainty that they will fail to qualify for the european champions league for the second year running and that could spell serious trouble for an enterprise that is heavily dependent on high profile sponers. No sponser will pay up to attach their name to a serial loser.
With only one point from six so far Man U in two EPL games , has the whiff of the TITANIC ABOUT IT - HEAD FOR SHORE IS MY ADVICE . It takes years to rebuild a team from close to ground zero and that is where they are at this moment .
Europe is awash in articles about the Murdochs lies to Parliament , shares plunge in Australia -- have a nice day .
see one of many articles :
I hear you but I think there is more to it than that. I have held closed end funds for decades and can say it not usual to see a discount grow from less than five % to close to 10 % in a week , despite a down and fractious market.
Does anyone know why the market value of RQI has been dropping fast in recent days eventhough the NAV ( XRQIX ) has been holding up quite well in comparision ?
Based on its current trajectory and 550+billion in debt, aided by the Black Belt careerist know nothings that Welch promoted to steer the company , I'm confident they will reach zero this year , around early Q3.Plus is see the shorts pilling into this doggie.
You are correct about that and I get the feeling that Paulsen and Bernake will soon have to do somthing positive to aid the situation , like intervention to bring down the mortgage rates as suggested by Bill Gross yesterday on CNBC.
That would stabalize housing and have very positive know on effects on financials and companies like NLY. If they continue to do nothing the whole ship can go down as this situation is out of control.
Lets not forget that Annnaly has usually sold for 1.4 x book because of its reputation .
I see from other postings it has 52 billion in borrowings and no doubt is a major customer to many major institutions .
We all know that this credit crunch is likely to unwind over the next few months for good or bad .
The question is who wants to hit NLY with a margin call - who will take up that kind of action if NLY goes ?
Remember the weak and infirm cannot cut off their nose to spite their face .
Sorry Pal ,
Good to see you have a sense of humor , but I could not resist as I used to work for GE and can tell you they are not the great company they were although if they drop into the mid twenties they may become a buy and they are well on the way there .
The problen was Welch pumping the stock ( by financial engineering and insufficent reserves for his reinsurance business - see barrons articles on subject ) and the introduction of Sick Sigma , which was dreamt up to justify a dot com multiple . They pissed off a lot of hardworking people and replaced them with Black Belt oportunist know nothings who have run the company into the ground .
See below cut from annaly's web site
“We take virtually no credit risk.”
Anyone who has seen our presentation for Annaly Capital Management or one of our FIDAC-managed funds has heard us utter these words. Investors should consult our disclosure and offering documents for a complete list of the risks we DO take—including our principal risk, interest rate risk—but with all of the Fannie Mae and Freddie Mac headlines and housing bubble articles papering the market, it is worth revisiting this statement and the creditworthiness of a Fannie Mae or Freddie Mac mortgage-backed security. We’ll put our conclusion up top: Fannie Mae and Freddie Mac MBS are the premier asset-backed securities in the world, and we take virtually no credit risk when we invest in them. The rest of this paper explores why we are still comfortable making that statement.
First, some background: Fannie Mae and Freddie Mac are chartered by the US government to keep money flowing to the housing market. It is because of their relationship with the government that they are called government agencies or Government Sponsored Enterprises (GSEs). As Freddie Mac states on its website, it “purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass-through securities and debt instruments in the capital markets. By doing so, we ultimately help homeowners and renters get lower housing costs and better access to home financing.” We and other secondary market investors buy those mortgage pass-through securities (which means our investors, in addition to receiving the spread income we generate, are also helping to finance the US housing market).
Why not wait until 45 $ and really make a killing ??
Looking at the charts and where interest rates are headed , it wont be long now .