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Asta Funding Inc. Message Board

bambyboy2005 9 posts  |  Last Activity: Feb 1, 2016 7:13 PM Member since: May 13, 2005
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  • Reply to

    J. Boucher Sells 44,275 Shares

    by havelotsofshares Feb 1, 2016 6:54 PM
    bambyboy2005 bambyboy2005 Feb 1, 2016 7:13 PM Flag

    considering how it was sold - i.e. at the new low and in one large block could have been a margin call easily...

  • Reply to

    Book Value $8.34

    by e7navy1999 Nov 16, 2015 1:02 PM
    bambyboy2005 bambyboy2005 Jan 13, 2016 9:36 PM Flag

    Google the difference between record date and ex dividend date. Remember that it takes 2 business days for anyone who traded shares today to settle and become the holder of "record". Anyway, not trying to sound snobbish in anyway, just sharing knowledge.

  • Reply to

    Book Value $8.34

    by e7navy1999 Nov 16, 2015 1:02 PM
    bambyboy2005 bambyboy2005 Jan 13, 2016 8:11 PM Flag

    You are wrong. Go check with NYSE. Ex div date was today. Previous day close was adjusted so real decline today was 2 pct or so.

  • Reply to

    Earnings date release with no warning this time...

    by b_fr_nk Jan 12, 2016 9:33 AM
    bambyboy2005 bambyboy2005 Jan 13, 2016 4:53 PM Flag

    considering the quality of the board here- wanted to share an idea- take a look at what is in my opinion is probably one of the cheapest names out there- ticker SNFCA- basically a small insurer in salt lake that is trading at $6.25 per share with $85M market cap that makes $1 per share (~$20M pretax annualized), has a tangible book of $8.5 per share and is investing and growing smartly (20% per annum) since the current CEO took it over from his father... Mini berkshire in the making with probably $20-30M in additional "secret" land value that is reflected on the balance sheet for very little since it was purchased decades ago. do your own diligence...

  • Reply to

    Book Value $8.34

    by e7navy1999 Nov 16, 2015 1:02 PM
    bambyboy2005 bambyboy2005 Jan 13, 2016 11:29 AM Flag

    the price today is already reflecting the 5% dividend

  • bambyboy2005 bambyboy2005 Dec 9, 2015 4:19 PM Flag

    that's a great financial investment- double digit returns from not paying leases and the actual investment amount is not that large- it will be done in phases... converts land into a valuable asset

  • Reply to

    One reason SNFCA is underperforming

    by dcxavier Nov 14, 2015 11:45 AM
    bambyboy2005 bambyboy2005 Nov 15, 2015 9:20 AM Flag

    You don't even read things all the way. The settlement is done. They no longer pay wells anything. That's why reserves went down last year. As far as the accurate reflection argument goes you simply don't understand how the real word works and probably think unicorns are real as well. In the finance world you increase reserves when there are excess profits and reduce them when the times are tough. But whatever. I tried to help you understand but don't see a reason any longer.

  • Reply to

    One reason SNFCA is underperforming

    by dcxavier Nov 14, 2015 11:45 AM
    bambyboy2005 bambyboy2005 Nov 14, 2015 2:20 PM Flag

    You keep at it again :)

    They are simply sandbagging here... non performing loans are declining quickly and if anything real estate assets on the balance sheet are vastly undervalued.

    Most of the larger mortgage issues have been settled last year (hence a 6M charge off in 2014) and lower reserve balance at year end. Also remember - part of the reason that mortgage profits are so much higher is quite simple- the fact that they don't have to pay Wells a few on every loan- they paid 10BP and if the revenue on each loan is ~50BP- that alone accounts for probably 25-30% increase in profit per loan made...

    From the filings...

    SecurityNational Mortgage is also required under the settlement agreement to set aside 10 basis points (.0010) during the period from April 8, 2011 to March 31, 2017 from the purchase proceeds of any loans that it sells to any mortgage loan purchaser, including Wells Fargo Funding, and pay such amounts to Wells Fargo Funding

    Now they are simply refilling the reserves... The can probably settle all the remaining issues with EMC, HUD etc and still have some money left over. You keep worrying about higher provisions but instead should be focusing on how much higher the earnings would have been if they didn't sandbag...

  • Reply to

    markets are indeed efficient

    by curiouse_student Sep 14, 2015 2:19 PM
    bambyboy2005 bambyboy2005 Nov 13, 2015 6:41 PM Flag

    This stock is the cheapest one I have seen in a decade

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