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Silver Wheaton Corp. Message Board

dbtunr 629 posts  |  Last Activity: 17 hours ago Member since: Nov 26, 1999
  • Reply to

    James Hickman

    by dbtunr Jan 12, 2015 11:27 AM
    dbtunr dbtunr Jan 12, 2015 2:58 PM Flag

    so why does SA allow him to post if this is in violation of the Connecticut order? don't they vet their authors?

  • dbtunr by dbtunr Jan 12, 2015 11:27 AM Flag

    For those interested, I found this article interesting on the writer James Hickman: bit dot ly/1BYWLdk

    Particularly: "HVM Capital has no corporate filings in any state. It is not registered as a hedge fund despite being labeled as such in some newspaper articles. Maybe that’s because Hickman isn’t supposed to be soliciting people to make investments because there’s a Consent Order on him in Connecticut, prohibiting him from such activities." 1.usa dot gov/1t9NGcT

    I haven't verified anything but certainly raises questions...

  • increased stake from just over 3% as of last report.

  • Reply to

    Chicago medallions

    by dbtunr Jan 8, 2015 3:08 PM
    dbtunr dbtunr Jan 9, 2015 6:43 PM Flag

    why do u talk to that nut?

  • Reply to

    The real issue

    by dyk742000 Jan 9, 2015 2:21 PM
    dbtunr dbtunr Jan 9, 2015 3:46 PM Flag

    check out the SEC 8K's were they document each and every buyback. They have been buying back a significant amount of shares

  • Reply to

    Chicago medallions

    by dbtunr Jan 8, 2015 3:08 PM
    dbtunr dbtunr Jan 9, 2015 1:13 PM Flag

    what's to stop TAXI from offering $280K for that $150K medallion so as to prop up their balance sheet? When only 3 were sold in the last 60 days...and the price has been volatile.

    To say they want to sell and actually sell are two different things. My neighbor has been saying he is going to sell his house for the past 15 years.

  • dbtunr dbtunr Jan 9, 2015 10:32 AM Flag

    I'm sure you feel that way being a left wing, on the dole, bum. Being on the gold standard means less handouts to folks like you and Wall.

  • dbtunr dbtunr Jan 9, 2015 6:31 AM Flag

    it's a silver/copper mine genius

  • Reply to

    Chicago medallions

    by dbtunr Jan 8, 2015 3:08 PM
    dbtunr dbtunr Jan 8, 2015 4:43 PM Flag

    such a great come back. Exactly how so? Is their 10Q wrong? I took the numbers right out of it. Is the chicagodispatcher wrong? I took the numbers directly from there as well. The CEO said to WSJ yesterday that medallions make up 20% of profits. Is he lying?

    Please correct me oh wise one.

  • Reply to

    Chicago medallions

    by dbtunr Jan 8, 2015 3:08 PM
    dbtunr dbtunr Jan 8, 2015 3:12 PM Flag

    Chicago is 12%+ of their Medallion holdings. If all medallion holdings generate 20% of profits, the Chicago medallions are less than 3% of profits. 2.57% to be exact

  • I've seen lots of FUD on the Chicago Medallion values and the possibility of a write down. From the most recent 10Q:

    MFC through several wholly-owned subsidiaries (together, Medallion Chicago), purchased $8,689,000 of City of Chicago taxicab medallions out of foreclosure, which are leased to fleet operators while being held for sale. The 159 medallions are carried at a fair value of $48,739,000 on the consolidated balance sheet at September 30, 2014, compared to $50,403,000 and $49,928,000 at December 31, 2013 and September 30, 2013, and are considered non-qualifying assets under the 1940 Act.

    from chicagodispatcher

    Month avg price
    June $328.9K
    July $250K
    Aug $291K
    Sept $341K
    Oct no sales
    Nov $297.6K
    Dec no sales

    So they bought these 159 medallions for $8M, and they are carried at $48M. Prices are all over the map and are somewhere in the middle range of the last 6 months. Price compared to last year is almost ZERO change

    I don't see an issue.

  • Reply to

    Ny times article

    by icon0 Jan 8, 2015 11:19 AM
    dbtunr dbtunr Jan 8, 2015 3:00 PM Flag

    MFC through several wholly-owned subsidiaries (together, Medallion Chicago), purchased $8,689,000 of City of Chicago taxicab medallions out of foreclosure, which are leased to fleet operators while being held for sale. The 159 medallions are carried at a fair value of $48,739,000 on the consolidated balance sheet at September 30, 2014, compared to $50,403,000 and $49,928,000 at December 31, 2013 and September 30, 2013, and are considered non-qualifying assets under the 1940 Act.

    So they bought them at $8.6M and they are carried at $48.7M. Seems like they have a long way to fall before there is an issue

    the avg carrying value is $306K as of Sep 30. the last quoted price is $297.6K as of end of Nov. No sales in Dec. So down 3%.

    $48.7M value of total $300M+ Medallion values is about 1/6. 1/6 of 20% is about 3% of total profits. I'm not worried about 3% of the company and it certainly won't put them in BK since they bought it so much lower.

    Nice try

  • Reply to

    Ny times article

    by icon0 Jan 8, 2015 11:19 AM
    dbtunr dbtunr Jan 8, 2015 2:40 PM Flag

    the numbers you cite do not match with numbers cited in their 10Q's and reported by WSJ today. You are way off. You also mention the word "if" about 10 times. Nice try. Guess you will be living in your Uber car you loser

  • Reply to

    Still riding this booger to zero?

    by evolutionisafact Jan 8, 2015 11:59 AM
    dbtunr dbtunr Jan 8, 2015 1:43 PM Flag

    then buy CDK for the auto play. I like the diversification of GLW over TEN.

  • Reply to

    Ny times article

    by icon0 Jan 8, 2015 11:19 AM
    dbtunr dbtunr Jan 8, 2015 1:11 PM Flag

    they were classified as subprime by WSJ. I'll go with their research. Rates of 20% I would classify as sub-prime

    “They are real subprime,” says Jill Teelman, senior business manager at General RV Center, Birch Run, Mich., who says that some of her customers have been referred to Medallion to obtain loans and that they sometimes pay nearly 20% interest.

    Some analysts see risk in the strategy, given the troubled history of subprime lending and the potential for big losses in an economic downturn. “They ramped up those consumer loans as a driver to earnings,” says Greg Mason, an analyst at Keefe, Bruyette & Woods. “But it’s dramatically riskier. It’s a change in their business model.”

    Although defaults rose during the financial crisis, Mr. Murstein says, losses in the consumer portfolio increased only to 5% at their worst and the business remained profitable. Loss rates now run about 2.5%, he adds. By contrast, borrowers of medallion loans hardly ever default since the loans are backed by an asset that has generally increased in value and which can be sold easily. In addition, he says, loans equal only about 40% of the medallion value on average.

  • Reply to

    Still riding this booger to zero?

    by evolutionisafact Jan 8, 2015 11:59 AM
    dbtunr dbtunr Jan 8, 2015 12:50 PM Flag

    I like GLW better than TEN

  • Reply to

    Ny times article

    by icon0 Jan 8, 2015 11:19 AM
    dbtunr dbtunr Jan 8, 2015 11:57 AM Flag

    read the WSJ article from today. It explains it all. Medallions are 20%, of that Chicago is a small fraction of overall medallions. So maybe Chicago is 1% of total?

    The vast majority of their profits come from their subprime loan business which charges rates of something like 15%. Better economy and lower gas prices vastly helps those with subprime loans. So you would think TAXI would be booming. Everyone is focusing on the medallion prices which are a small percentage of the company. Maybe they should change the name of the company

  • started off the year pretty bad. Wiped out last years gains. Any thoughts?

  • dbtunr dbtunr Jan 8, 2015 11:36 AM Flag

    haha. good one. MIXT is the only company with lower barriers to entry than FLTX. MIXT is a mess of former purchases cobbled together and forming a pretty #$%$ company. Aside from their cash, they have nothing alluring.

  • Reply to

    Ny times article

    by icon0 Jan 8, 2015 11:19 AM
    dbtunr dbtunr Jan 8, 2015 11:35 AM Flag

    at 20% of their profits, with never a foreclosure in their history, does it matter?

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