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Assured Guaranty Ltd. Message Board

dsouth7777 31 posts  |  Last Activity: 23 hours ago Member since: Feb 24, 2012
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  • dsouth7777 dsouth7777 Jul 4, 2014 9:21 AM Flag

    Dunno. I thought the crack spread was more important than the WTI vs Brent.

    Any opinions on this?

  • dsouth7777 by dsouth7777 Jul 31, 2014 3:26 PM Flag

    Finally produced something positive for the shareholder.

    Hope the momentum can continue.

  • Reply to

    Run Away!

    by dsouth7777 Jun 18, 2014 3:57 PM
    dsouth7777 dsouth7777 Jun 27, 2014 12:14 PM Flag

    Well, there are a lot of differing views on NWLI, and this board give us all a forum to express our opinions.

    Just be glad we're not discussing politics! :-)

    Haha have a nice weekend!

  • dsouth7777 by dsouth7777 Jun 4, 2014 12:04 PM Flag

    Every other life company is up this week because of the PL acquisition.

    Except good old NWLI.

    Just for grins, if NWLI were valued at the P/B as PL the price would be approx. $523 (406 x 1.29).

    Never will happen, but it does show what the market thinks of management.

  • Reply to

    Run Away!

    by dsouth7777 Jun 18, 2014 3:57 PM
    dsouth7777 dsouth7777 Jun 19, 2014 12:58 PM Flag

    Here is a summary of the Fed statement:

    "We are in a pickle. We have an enormously leveraged economy and all asset classes are overvalued based upon ZIRP. If we raise rates, markets will plummet and our (FED) bloated balance sheet will be blown to smithers".

    What else do you need to know?

  • Reply to

    Run Away!

    by dsouth7777 Jun 18, 2014 3:57 PM
    dsouth7777 dsouth7777 Jun 25, 2014 12:10 PM Flag

    "NWLI is my only long position in what I think is a dangerously overpriced market due to the Fed holding interest rates at near zero %. I can't find anything else that I want to buy and have nearly 50% of my assets in cash earning nothing. I have covered about 90% of my AMZN short with about a 20% realized gain. I don't know what else to do while waiting for the Fed to quit persecuting savers and old folks."

    My sentiments exactly!!

  • dsouth7777 by dsouth7777 Jun 27, 2014 11:10 AM Flag

    So HFC hits a high of $46 or so yesterday, early afternoon. It proceeds to drop into the close, trading approx 3 million shares during the day.

    Then someone sells 1 million shares after the close at $45.48.

    And guess what happens. A downgrade this morning.

    Wall Street is such a dirty game.

  • Reply to

    PL Capital

    by dsouth7777 Jun 22, 2014 10:05 AM
    dsouth7777 dsouth7777 Jul 6, 2014 10:18 AM Flag

    And from the 4th of July Barron's:

    Increases in Holdings

    Banc of California (BANC)

    PL Capital upped its stake to 1,966,676 shares (7.5%) by buying 39,400 from June 19 to June 27 for $10.89 to $10.90 apiece. PL disclosed that it has concerns about the bank's "corporate governance, operating performance, financial projections, and compensation plans." PL also declared its intent is to engage with management and the board to address these concerns.

  • dsouth7777 by dsouth7777 Aug 1, 2014 3:56 PM Flag

    Hurry!!...SELL INTO THE VACCUM!!

    My goodness, no support in sight.

  • dsouth7777 by dsouth7777 Jun 18, 2014 3:57 PM Flag

    Apparently someone is bailing out. Heading south on some volume.

    On the one hand, can't blame them. Nothing will ever change here.

    On the other, who would sell this at 60% of book when a competitor just got bought out at 1.29x book?

    Guess that's what make a market.

  • dsouth7777 by dsouth7777 Jun 22, 2014 10:05 AM Flag

    Oh yeh..let's get this going!!

    Business: retail banking products and services in the U.S.
    Investor's Avg Cost: $10.53/share
    Stock-Market Value: $225 million ($10.97/share)

    What's Happening: PL Capital sent a detailed letter to the board regarding significant concerns and questions it has about the bank's corporate governance, operating performance, financial projections, and compensation plans.

    Key Numbers:
    35: Number of 13D filings PL Capital has made in banking and financial companies.

    43.7%: the average return on those 35 filings (versus 29.4% for the S&P500 over the same time periods).

    Behind the Scenes: PL Capital is first a banking-industry investment firm, and second an activist investor. Its principals have extensive accounting, auditing, and corporate finance experience in the banking industry, and it has an outstanding track record as an activist in the industry.

    As PL Capital set forth in its letter, Banc of California is a company with horrible corporate governance practices and egregious compensation policies. The detail that the letter goes into not only shows the board how knowledgeable PL Capital is about the banking industry; it also educates other shareholders, and reveals to them the severity of the situation.

    The most pressing issue is corporate governance: The board needs to change the culture and stop rubber-stamping compensation plans. The second issue is operating performance. CEO Steven A. Sugarman is a skilled deal maker and was hired to get the company to $5 billion in assets, which he accomplished. Now, it is an operating story. Sugarman is up for re-election in 2016, so he has a year and a half to prove himself as an operator.

  • Reply to

    Down 4.5%

    by dsouth7777 Aug 7, 2014 3:11 PM
    dsouth7777 dsouth7777 Aug 7, 2014 3:51 PM Flag

    Thanks.

  • dsouth7777 by dsouth7777 Aug 3, 2014 10:10 AM Flag

    They did buy a bunch of GOV this week:

    Jul 29, 2014 PORTNOY ADAM
    Director 360,000 Direct Purchase at $23.50 per share 8,460,000

    Jul 29, 2014 PORTNOY BARRY M
    Director 440,000 Direct Purchase at $23.50 per share 10,340,000

  • Reply to

    Buying time?..

    by michaelmcmx Aug 4, 2014 9:48 AM
    dsouth7777 dsouth7777 Aug 6, 2014 1:33 PM Flag

    Apparently not the best time.

    My guess is that the conference call did not go well.

  • dsouth7777 by dsouth7777 Aug 7, 2014 11:24 AM Flag

    Hope freefall in the stock is just the market and not indicating bad news coming.

  • dsouth7777 by dsouth7777 Jul 7, 2014 12:15 PM Flag

    Banc of California, N.A., the national bank subsidiary of Banc of California, Inc. (BANC), announced today that it expects to have funded a company record of over $1.4 billion in loans during the second quarter of 2014.

    Jeff Seabold, Chief Lending Officer of Banc of California, stated “As California’s Bank, we are open for business. We are excited to have met the diverse credit needs of thousands of California’s businesses, entrepreneurs and homeowners during the second quarter. These results are a testament to the strong team of banking professionals we have assembled at Banc of California and puts us on pace to meet our ambitious lending goals for 2014.”

    Steven Sugarman, Chief Executive Officer of Banc of California, stated “Good lending is good business. We are pleased to see strong demand for our lending products and to find attractive opportunities to deploy our capital. The Bank’s healthy loan growth will result in long term stockholder value, while strengthening the communities we serve.”

    But the question remains - will BANC make any money on these loans?

  • Reply to

    Discount to NAV

    by nmike181 Jun 13, 2014 11:37 PM
    dsouth7777 dsouth7777 Aug 8, 2014 12:14 PM Flag

    Sister company NWLI is even more undervalued.

    The market doesn't care because the Moody's have controlling interest and don't do anything for the minority shareholders.

  • Reply to

    What the hell is going on?

    by gqgerb Jul 30, 2014 11:18 AM
    dsouth7777 dsouth7777 Aug 12, 2014 6:34 PM Flag

    First of all, this is not a stock. It's a closed-end fund that owns credit (bonds) and equities.

    High-yield bonds have gotten creamed in the past few weeks.

    So have a couple of the equities the fund owns, namely AAL and MEG.

    Hence the NHF share price decline.

  • Reply to

    I doubt the IR person quit

    by tvbx Aug 20, 2014 3:08 PM
    dsouth7777 dsouth7777 Aug 23, 2014 10:42 PM Flag

    No doubt. Maybe he actually has some ethics or morals and just could not take FSFR any more. Hopefully that is the case.

  • Reply to

    Mrs. Moody

    by chiefned Aug 5, 2014 10:43 AM
    dsouth7777 dsouth7777 Aug 5, 2014 12:15 PM Flag

    I think she is there to ensure that if something happens to Mr. Moody things will continue as normal.

    That is, making sure that nothing is ever done to reward minority shareholders.

AGO
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