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1
Posted on 8/21/08 at 10:39 am to MileHigh
I prefer "Jerry Rice to become LSU wide receiver coach."
Posted on 8/21/08 at 2:13 pm to Doc Fenton
LINK
FYI. Bove was the one of the very first to blow the whistle on the troubles banks were going to have.
FYI. Bove was the one of the very first to blow the whistle on the troubles banks were going to have.
Posted on 8/21/08 at 3:22 pm to Doc Fenton
The New York Assembly is probably counting on revenue collected by the Attorney General from his Auction Rate securities settlements as replacement revenue.
Posted on 8/21/08 at 3:57 pm to whodatigahbait
quote:
Bove was the one of the very first to blow the whistle on the troubles banks were going to have.
:rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao: ETA: Bove has been calling a bottom in financials since early spring.
This post was edited on 8/21/08 at 4:57 pm
Posted on 8/21/08 at 4:01 pm to Doc Fenton
quote:
From the Monday, 9/18/08, edition of The Wall Street Journal, " L
Dude, you know the content of these articles a month ahead of time and you aren't making $$$$$ off the content???
Posted on 8/21/08 at 5:02 pm to Colonel Hapablap
quote:
quote:
Bove was the one of the very first to blow the whistle on the troubles banks were going to have.
ETA: Bove has been calling a bottom in financials since early spring.
I agree with you; he changes his mind all the time and he has called the bottom many times however it doesn't change the fact that he was one of the very first to point out the banks troubles
Posted on 8/21/08 at 10:30 pm to whodatigahbait
FWIW the only reason their last F/S is marked unaudited is because it is a quarterly report and therefore a review, not a year end audit (see p 52 of f/s). It has no bearing on the accuracy of the information provided (insofar as the CPA is concerned). That being said, the disclosure for IBanks is....muddy (see here, here, here, and some blame game here), which is not helping matters from an investor standpoint.
ETA: And I am also in the camp that believes this company will not exist in current form in the relatively near future
ETA: And I am also in the camp that believes this company will not exist in current form in the relatively near future
This post was edited on 8/21/08 at 10:33 pm
Posted on 8/22/08 at 6:07 am to tirebiter
A subconscious desire on my part for summer to be over perhaps?
Posted on 8/22/08 at 6:10 am to kfizzle85
Thanks for the insight. I'm a little shaky on financial accounting.
Are you saying that quarterly reviews are just as accurate as year-end audits?
quote:
It has no bearing on the accuracy of the information provided (insofar as the CPA is concerned).
Are you saying that quarterly reviews are just as accurate as year-end audits?
Posted on 8/22/08 at 9:14 am to Doc Fenton
Not at all my friend. A review and an audit are subject to different levels of assurance. If you read p52 of the 10-Q, it should pretty well spell it out, it's just a template (like literally straight out my auditing book) that all firms use for a review assurance level, amongst the other various reports they might issue that are not audits. It really has to do with the limiting CPA liability as it is impossible/impractical to do an audit of each quarterly report.
ETA: Basically just trying to say that it is normal operating procedure, and does not necessarily indicate a "good" or "bad" thing. An audit is an opinion, in a review there is no opinion issued. Hope that cleared up what I was saying (they're still going down).
ETA: Basically just trying to say that it is normal operating procedure, and does not necessarily indicate a "good" or "bad" thing. An audit is an opinion, in a review there is no opinion issued. Hope that cleared up what I was saying (they're still going down).
This post was edited on 8/22/08 at 9:18 am
Posted on 8/22/08 at 9:34 am to Doc Fenton
LEH is up 15% this AM. Looks like a good time to buy some puts.
Rumor is Korea is buying them. Right............if they do, it will involve massive shareholder dilution.
Rumor is Korea is buying them. Right............if they do, it will involve massive shareholder dilution.
Posted on 8/22/08 at 9:54 am to MileHigh
I was actually considering some long dated Lehman calls last night, just on the premise that they might not be a zero.
Posted on 8/22/08 at 9:57 am to MileHigh
Read a post late last night that said it was SK an Japanese banks and that LEH was trying to dump off 50% of the company, but it fell through. Honestly, they've been shopping literally every single asset they own.
ETA: Post was just quoting a FT story that I somehow missed on Wed. Sorry for germans.
ETA: Post was just quoting a FT story that I somehow missed on Wed. Sorry for germans.
This post was edited on 8/22/08 at 10:00 am
Posted on 8/22/08 at 10:29 am to MileHigh
Posted on 8/22/08 at 10:36 am to Doc Fenton
Not that I can shed any light on the economics of the Lehman Brothers situation, but FWIW I am employed by Lehman in one of their subsidaries and I am being layed off next week. It literally came out of no where about two and a half weeks ago. The whole mortgage lending crisis did them in.
Posted on 8/22/08 at 10:38 am to Colonel Hapablap
damn!
I was counting on their new name being "Seoul Brothers"
I was counting on their new name being "Seoul Brothers"
Posted on 8/22/08 at 10:46 am to skc4lsu
quote:
It literally came out of no where about two and a half weeks ago
No it didn't. I could have told you, you were at risk
Posted on 8/22/08 at 10:53 am to MileHigh
quote:
Seoul Brothers
you're not funny very often, but that one wasn't bad.
Posted on 8/22/08 at 10:54 am to Colonel Hapablap
quote:
you're not funny very often, but that one wasn't bad.
I stole it.
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