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In February 2007, our LandSource joint venture admitted MW Housing Partners as a new strategic partner. The transaction resulted in a cash distribution to us of $707.6 million. Our resulting ownership of LandSource was 16%. If LandSource reaches certain financial targets, we will have a...

Notice that the major investment banks are sporting P/E ratios of around 10, as compared to many financial institutions with no exposure to the subprime or CDS markets, who are often in the range of 20. That would lead some analysts to suggest the risk is already priced in the market. I...

I am sam, sam I am. I do not like Green ES and ham.

Last time he wavered in front of the cameras, we fell off.

Does anyone know any details about these joint-venture deals that Lennar has with several hedge funds? Is Lennar in any way invested in subprime through these?

!! It is the dialed up leverage. There is said to be about $1 trillion in CDSs for an underlying $20 billion in GM debt. like a futures market almost, much more size held than the value of the full underlying. The more leveraged fund of the 2 has to be in the red, especially if the...

From Mauldin- Credit Default Swaps? Who Is the Counter-Party? Let’s assume for a moment that the highest estimates of subprime mortgage defaults are correct. That would suggest losses of $250 billion. But these homes will not go to zero. Even if they drop by 40% for a total market loss...

Wait for the spectacular spillover first! It doesn't end with these 2 funds. There are going to be quite a few of these funds now that will be marked to market instead of model. BYE BYE! Enter Lawyers. This is gonna be fun! Where it could get tricky is if this triggers Credit Default...

Up 7.97 today. SECURITY 6/14/07 7/17/07 NET RETURN FWLT $104.29 $117.59 $13.30 12.753% MA $150.30 $169.24 $18.94 12.601% GOOG $505.22 $555.00 $49.78 9.853% BIDU $138.24 $212.29 $74.05 53.566% GS $233.64 $219.40 $(14.24) -6.095% RIMM...

down 6.49 today. SECURITY 6/14/07 7/16/07 NET RETURN P/E FWLT $104.29 $118.79 $14.50 13.904% 22.71 MA $150.30 $169.71 $19.41 12.914% 159.16 GOOG $505.22 $552.99 $47.77 9.455% 46.99 BIDU $138.24 $208.01 $69.77 50.470% 137.95 GS $233.64 $220.40...

We're the market maker in the pit! I am on the bid, and you are on the offer. I see your TA, but I see some things on a position dynamic that are not looking at your TA. And I think they will ultimately win and win big. Large specs hold their largest short position since jan of 2005, and...

Notice that the VIX is actually up today with the broad market higher. This is deviating from what we normally see with a rally. Lately the VIX has been getting hit with rallies. Wonder if this is is a subtle little topping sign?

And yet another!! http://business.timesonline.co.uk/tol/business/markets/united_states/article2080599.ece

http://www.ft.com/cms/s/7345310a-32fb-11dc-a9e8-0000779fd2ac.html

Arnold leaned on it hard on the open, buy fund however has been agressive for a Sunday night on the bid, not sweeping it up but holding it hard on ICE. I watched it for awhile, kept lifting offer, new offer in and lift again. Still think you buy on dips below 6.50 Obviously natty isn't...

Go on CNBC and talk out of his ass as usuaul.:D

Since this is more about the dynamics than the fundamentals, picking a spread that will work well is difficult. It would seem to me that buying aug or sep agtainst november is your safest bet, and should perform well in a front ended short covering squeeze. If you want to dial down the...

Don't disagree with him in the long term, short-term however I think we trade up nicely from here. All about the underlying dynamics. Believe me, when this cycle up from here is complete, we should trade down a bunch, and for an extended period.

Also on a fundamental note- this is an excerpt from a pro met. There are no threat areas in the tropical Atlantic to discuss, and none of the computer models are forecasting tropical storm formation over the coming week. However, there is there a major development to report--it appears...

Great close today, momentum is building. I saw my fund buying in waves on ICE today, strategy intact. Also noteworthy and a bullish sign is someone is bidding up the Z6 NY basis for winter. This has been faily dead lately and drifting lower until now. Buy the dips!!