Ray Shan's Online Journal » subprime http://www.rayshan.com/blog Fri, 13 Nov 2009 22:19:39 +0000 http://wordpress.org/?v=2.9.1-RC1 en hourly 1 Joke: Everyone Hates Subprime http://www.rayshan.com/blog/97/ http://www.rayshan.com/blog/97/#comments Tue, 02 Oct 2007 16:38:32 +0000 Ray http://www.rayshan.com/blog/97/  ForeclosureIM conversations at leading funds:

Analyst: I think that this maker of ball bearings is quite attractive because of its strong operating momentum, $500mm net cash position, and dirt cheap valuation of 6x fully-loaded FCF.

PM: WHAT IS THEIR SUBPRIME EXPOSURE?!?

Analyst: They don’t own subprime. Or sell houses. Or sell into housing-related markets. Or have variable rate debt.

PM: OK BUT ARE THEY EXPOSUDED TO THE SUBPRIME PRESSURE ON YIELDS?

Analyst: No

PM: I LIKE THE NAME BUT WANT TO OWN IT 10% CHEAPER

Analyst: They’re buying back 10% of shares outstanding this year.

PM: WHAT ABOUT SUBPRIME? ANY EXPOSURE THERE?

Analyst is now offline.

(Am I the only one that don’t think subprime is that bad? Look at how much GS made by shorting subprime for their proprietary trading)

]]> http://www.rayshan.com/blog/97/feed/ 1 Housing http://www.rayshan.com/blog/housing/ http://www.rayshan.com/blog/housing/#comments Thu, 28 Dec 2006 15:15:25 +0000 Ray http://www.rayshan.com/blog/?p=62 To further demonstrate my point of housing hitting the bottom and rebounding, here’s a great article with housing data that just came out today:

U.S. Existing Home Sales Rose 0.6% in November to 6.28 Mln Rate – Bloomberg

Conclusion: I’m bullish as I always was.

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