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Actually, I'm really not worried about FMD. Maybe ignorance is bliss, or, there's hope. The indices are another thing, though. I do think we are in a true bear, here.

Very bad. Bad, bad, bad. Very, very, very, tremendously bad sign.

I was hoping on a day like today it would have dropped to $3.12, as it did yesterday, but it hasn't. I should have added more shares yesterday.

Good question; I'm trying to pin the exact date down.

FMD currently has $3.74 per share of cash on hand, while trading around $4.18. It's not just less than book (approx .68 book value and 1.95 p/e ratio), it's close to trading at liquidated cash value. Goldman now will be injecting anywhere from 100 million to 200 million dollars, depending on...

The ghost of Henry Blodget.

I forgot to add that whatever additional amount Goldman Sachs tenders will be added to First Marblehead's cash reserves. So, if they end up tendering an additional 150 million, for example, FMD will then have 500 million in cash on hand, and no debt. It has taken me a long time to separate...

Mvic, that is correct. I ran the numbers. Using today's closing price, and market cap of FMD, GS would be obligated to pay approximately 125 million, rather than 200.7 million, in additional funds to FMD, without exceeding the 25% ownership of FMD that would require them to register as a...

Best news EVER (probably why Goldman will buy FMD if Bank of America doesn't; they'll get even more profitable now): http://www.bloomberg.com/apps/news?pid=20601087&sid=akSswb8yONKs&refer=home "A House committee yesterday approved legislation that would allow students to increase their...

FMD is the go to lender if income requirements exceed those established by government agencies, which are pretty low. They charge a higher interest rate to process such loans than what a strictly government lender would charge. A lot of loans are 'stacked,' too, meaning a government lender...

FMD is pissed at the press releases. S&P has gotten it right; others have not. Forbes and WSJ have reported that FMD now has exposure to student loan defaults now that TERI is in bankruptcy. THIS IS NOT TRUE. CALL INVESTOR RELATIONS AT FMD. FMD PROCESSES THE STUDENT LOAN AND GETS PAID A...

FMD turned down a 1 billion warehouse facility offered by Goldman. Goldman is obligated to purchase 200 million $$$ worth of additional shares of FMD, TERI is still on the hook for any defaults on student loans (5.5% to 7.4%), as are client banks that have purchased the loans (Bank of America...

I had a limit order @ 3.25 for 4000 shares and I am very despondent as this is above $4.05.

Goldman is under contractual obligation to buy another 200 million dollars worth of shares. That is a fact according to FMD this morning. I love the action. I am eager to see 4 weeks from now, 8 weeks, 12 weeks...

Sonofabitch, could've had it at 3.41 and missed. Print is 3.73. 3.91 I'm pissed.

Buying more. Limit order @ 3.25. If I don't get filled over .20 I'll be pissed. Low of 3.12. Go big or go home. Insanity.

Okay, since I can't sleep, I double, triple and quadrupled-checked FMDs balance sheet. I'm now more confident that ever that this is a major and rare opportunity. Run the screen yourselves. A p/e ratio of 2.2, no debt, earnings growth of 38%, p/s ratio of 0.7, and a profit margin of 16%...

Sneer at him if you will, as he's had a rough recent patch. But don't underestimate a man who radically outperformed the S&P, Dow, and Nasdaq index for 16 CONSECUTIVE YEARS - an unrivaled performance. Short the crap out of crap, and maybe the indexes for a while, but look for the gems that...

Mvic, great analysis. The problem I see is a simple one - as a % of the share price, the option pricing is disproportionately very, very high. Whether you bullish or bearish on FMD, you're better off buying shares or shorting shares outright, naked or covered.

We will see deflation sooner than most people expect; especially the people hoping to squeeze the last $10 dollars out of barrel of oil, the last $105 out of an ounce of gold, or the last $3.85 out of a bushel of summer wheat or soybeans. I don't know when it will set in, but it will...