If you are unable to make a baby laugh or a genius think, do not bother blogging.
Class dismissed
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21 Responses to “Fly’s Blogging Lesson Number Three of Five”
Professor Charles Kingsfield Says:
“You teach yourselves the law. I train your minds. You come in here with a skull full of mush, and if you survive, you’ll leave thinking like a lawyer.â€
Jake, take a look at fed’s latest 10q from 5/12/08. take a close look at notes to the statements, amount cmo’s and mbs, and other goodies. if you factor out or reduce substantially some of these things, see what happens to so called bv
Please submit your 4% dues to the club for 2007. Your payment is now overdue and in order to keep your membership in good standing a payment is due within 30 days.
If a payment has been made already, please disregard this notice.
I took a look at the 10-q notes, and saw 390+mm of CMO’s and MBS’s… question is: why are they holding these, and what is the underlying collateral for that nearly $400 mm ticking time bomb?
these cmo’s and mbs’s are for sale. it gets better, look at accounting for impaired loans and how they treat arm’s and negative amortization and how they contribute to earnings. also look at the yrs of when most of these mtgs were made and documentation. if california r/e continues to decline, well you know the rest. thanks for making me take a close look at fed. i will be shorting tomorrow.
….also look at the yrs of when most of these mtgs were made and documentation. if california r/e continues to decline, well you know the rest.
Actually, I had made note of that yesterday when I was doing the initial analysis, but it ended up “on the cutting room floor” when I saw how huge my post had gotten.
Shitpot of mortgages made in the 2005-2006 “peak pricing” period. Oh, there’s more to come for that sucker, I’m pretty sure.
BTW…only the shitty CA real estate in suburban slums with vagrant neighbors are in foreclosure - it sure aint in brentwood..sacramento ,riversidehell holes ..blech…speaking of laughing babies - I hate that commercial with those demonic laughing ugly baby creatures…people stop yer freakin spawning! my rice is organic and pricey thanks to you! - the world does not want to hear from your slimey sperm..hahaha
“You teach yourselves the law. I train your minds. You come in here with a skull full of mush, and if you survive, you’ll leave thinking like a lawyer.â€
May 14th, 2008 at 8:49 pmThe only thing you’re good at is making sticky shorts and smelly shoes..
May 14th, 2008 at 8:56 pmgoogoo gaah gahh is to booboo bahhg bah
May 14th, 2008 at 9:00 pmas boo bahh haa haah is to what?
yes! I can blog!
Unfortunately there are 10 Lessons. Email me for the other 5
May 14th, 2008 at 9:13 pmIf blogging was a sport it would be in the gay olympics. Early returns indicate that Ducati is looking at a podium finish.
May 14th, 2008 at 9:28 pmIf blogging was a sport it would be in the gay olympics.
Or the gay rodeo.
May 14th, 2008 at 9:29 pmWhat’s gayer?
Blogging or being an avid blog reader?
Hmmm.
NEVER fucking forget that, fuckfaces.
May 14th, 2008 at 10:14 pmFly is right. Fuck reading. I’m going to learn braille.
Fly: Post something in braille for us.
May 14th, 2008 at 10:48 pmRight on, Fly.
Create, or be created on… sounds gross, no?
-DT
May 14th, 2008 at 11:02 pmHmmm…(thinking)…………..Yes you are a good blogger. Bravo!
May 14th, 2008 at 11:11 pmWhat’s gayer?
Blogging or being an avid blog reader?
Are you serious?
There’s no question that blogging is gayer.
Fancy, even.
This is why I have more kids than you. I just read the shit, for the most part.
May 14th, 2008 at 11:38 pmJake:
You are in no position to talk.
You Sir, are Lord Fucktard, God of Comments and Man of many Guises—with well over 3,000 responses and counting.
Don’t fuck with me.
“The Fly” always wins.
May 14th, 2008 at 11:41 pmJake, take a look at fed’s latest 10q from 5/12/08. take a close look at notes to the statements, amount cmo’s and mbs, and other goodies. if you factor out or reduce substantially some of these things, see what happens to so called bv
May 14th, 2008 at 11:49 pmFly,
True enough, but that’s just dilettantism. Having fun.
Not nearly as gay as full time blogging.
Update: And I am not “Fucktard,” btw, if that’s what you are implying.
_______________
Chivas,
What do you mean by “factor out?”
__
May 15th, 2008 at 12:25 amSir JakeGint,
Please submit your 4% dues to the club for 2007. Your payment is now overdue and in order to keep your membership in good standing a payment is due within 30 days.
If a payment has been made already, please disregard this notice.
Respectfully,
Treasurer, Society of Dilettanti
May 15th, 2008 at 12:39 amChivas,
I took a look at the 10-q notes, and saw 390+mm of CMO’s and MBS’s… question is: why are they holding these, and what is the underlying collateral for that nearly $400 mm ticking time bomb?
May 15th, 2008 at 12:41 amNo way the secretary of the Dilettante’s club is that anal about the dues…
Gotta be the gay dinosaur.
May 15th, 2008 at 12:43 amJake,
should have said back out instead of factor out.
these cmo’s and mbs’s are for sale. it gets better, look at accounting for impaired loans and how they treat arm’s and negative amortization and how they contribute to earnings. also look at the yrs of when most of these mtgs were made and documentation. if california r/e continues to decline, well you know the rest. thanks for making me take a close look at fed. i will be shorting tomorrow.
May 15th, 2008 at 1:26 am….also look at the yrs of when most of these mtgs were made and documentation. if california r/e continues to decline, well you know the rest.
Actually, I had made note of that yesterday when I was doing the initial analysis, but it ended up “on the cutting room floor” when I saw how huge my post had gotten.
Shitpot of mortgages made in the 2005-2006 “peak pricing” period. Oh, there’s more to come for that sucker, I’m pretty sure.
Thanks for taking it seriously….
May 15th, 2008 at 8:50 amCan someone wake me up when Bernanke is finished speaking…
May 15th, 2008 at 9:41 amadded some V here…
BTW…only the shitty CA real estate in suburban slums with vagrant neighbors are in foreclosure - it sure aint in brentwood..sacramento ,riversidehell holes ..blech…speaking of laughing babies - I hate that commercial with those demonic laughing ugly baby creatures…people stop yer freakin spawning! my rice is organic and pricey thanks to you! - the world does not want to hear from your slimey sperm..hahaha
May 15th, 2008 at 2:29 pm