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factual_observer 12 posts  |  Last Activity: Sep 10, 2014 7:53 AM Member since: Feb 29, 2008
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  • Reply to

    Ready for the big squeeze tomorrow shorts?

    by boyt1961 Sep 9, 2014 7:53 PM
    factual_observer factual_observer Sep 10, 2014 7:53 AM Flag

    I agree with Tony and Bmygc, this is hardly a turnaround, on the contrary. To spin this forced sale of earning assets without a gain into "a fully recovered bank paying dividends" is worse than a denial of reality; it's hallucinating! Even if the Consent Orders from the Federal Reserve and the FDIC didn't exist, you need profits to pay dividends; they haven't been profitable for the last 9 years and are racking up a 10th year of the same.

  • Reply to

    Puerto Rican legislation positive for banks

    by red.tsar1 Sep 8, 2014 6:49 AM
    factual_observer factual_observer Sep 8, 2014 11:54 AM Flag

    Sterne has it right. That legislation is strictly limited to bonds of their public corporations such as the electric power company and the highways authority. GO's and sales tax bonds are specifically excluded from the legislation with very clear language.

    I believe BPOP's book of P.R. securities and loans is among the lowest, if not the lowest, of the island banks, at less than 2% of total assets. I saw a figure of 9.9% for some of the other banks. In any event, according to BPOP's latest investor presentation, that 2% is mostly in the form of "collateralized loans to agencies with a specific source of income or revenues identified for their repayment", and advances to municipalities with first liens on tax revenue. Looks like they have a good handle on their government book.

    Sentiment: Strong Buy

  • Reply to

    All of you T.A. experts

    by boyt1961 Aug 22, 2014 4:37 PM
    factual_observer factual_observer Aug 23, 2014 8:23 PM Flag

    We can agree that Soros' holding of DRL stock is irrelevant, but not only because it's only 0.001%, but also because invoking his name here is ridiculous when his fund holds over 450 companies, some with very sizeable positions. Btw, he himself at the age of 84 no longer does any investing; the Soros Fund is managed by a team of professionals.

  • Reply to

    All of you T.A. experts

    by boyt1961 Aug 22, 2014 4:37 PM
    factual_observer factual_observer Aug 23, 2014 8:02 PM Flag

    Yup, it never fails! If you don't like the message or can't refute it, just attack the messenger! LOL! But then, that's the typical style of the uninformed.

  • Reply to

    All of you T.A. experts

    by boyt1961 Aug 22, 2014 4:37 PM
    factual_observer factual_observer Aug 23, 2014 4:44 PM Flag

    Yeah sure, big deal - LOL! Did you also know that the Soros Fund holds 463 different companies in its portfolio, and that their small DRL holding is no more than 0.001% of Soros' worth? That's 1/1000%! Just to enlighten you a bit more, of DRL's 59 institutional holders, 35 decreased their holdings including 19 sold out completely. You don't need to do much TA to get the significance of that.

  • Reply to

    lol

    by jeffsedgh Aug 22, 2014 11:18 AM
    factual_observer factual_observer Aug 22, 2014 12:46 PM Flag

    Invoking Soros name LOL - did you know that the Soros Fund holds 463 different companies in its portfolio, and that their small DRL holding represents the humongous amount of about .001% of Soros' worth? That's point zero zero 1. Nice try at pumping! To enlighten you a bit more, of DRL's 59 institutional holders, 35 decreased their holdings includidng 19 sold out completely.

  • Reply to

    Still Undervalued

    by teerod88 Jun 19, 2014 11:53 AM
    factual_observer factual_observer Jun 19, 2014 2:13 PM Flag

    Agree, that's the BV at least. Now that they're exiting TARP -- without issuing new equity -- the road is cleared for dividend resumption on the common. The div on the preferred was already reinstated several years ago.

  • factual_observer by factual_observer Jun 19, 2014 8:11 AM Flag

    1. The TARP repayment is being done without issuing new equity, a most significant plus.

    2. With TARP out of the way, the road to dividend resumption has been cleared.

  • Reply to

    I really get a laugh out of . . .

    by factual_observer Jun 17, 2014 1:31 PM
    factual_observer factual_observer Jun 17, 2014 3:45 PM Flag

    In a nutshell, what the judge dismissed was their attempt to use the courts and bypass the normal administrative process of the Tax Dept., where they know they can't win because agreements based on fraud and misrepresentation of facts are null and void "ab initio".

  • Reply to

    I really get a laugh out of . . .

    by factual_observer Jun 17, 2014 1:31 PM
    factual_observer factual_observer Jun 17, 2014 2:14 PM Flag

    Tsar, take my comments as you wish. Am neither long nor short, just an interested observer of the banking scene in PR, where I used to live for many years.

  • Reply to

    I really get a laugh out of . . .

    by factual_observer Jun 17, 2014 1:31 PM
    factual_observer factual_observer Jun 17, 2014 2:11 PM Flag

    Hypno, you hit the nail on the head: "fraud, deceit or misrepresentation of a material fact".

  • factual_observer by factual_observer Jun 17, 2014 1:31 PM Flag

    . . . all the attempted spin and gobbledeegook posted on this board by wannabe lawyers and CPA's. The fact of the matter is the court ruled against Doral by dismissing the suit and telling it to use normal Tax Dept. (Hacienda) procedure. I predict this ruling will not satisfy the regulators and the FDIC will not allow the capital deficiency to drag out indefinitely.

BPOP
31.35-0.21(-0.67%)Sep 16 4:00 PMEDT

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