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Started By
Message
Kyle Bass' Short on UDF
Posted on 2/8/16 at 6:09 pm
Posted on 2/8/16 at 6:09 pm
UDF Exposed
Has anybody been following this? I was wondering if this is legal to short a stock and then attack the management like this. It seems unethical at the least. I'm pretty sure there are a few posters from Texas, does anybody know anything about UDF?
What say the MB?
Has anybody been following this? I was wondering if this is legal to short a stock and then attack the management like this. It seems unethical at the least. I'm pretty sure there are a few posters from Texas, does anybody know anything about UDF?
What say the MB?
3
Posted on 2/8/16 at 6:18 pm to Bernie_Madoff
It's definitely legal and, in my opinion, is a big part of keeping markets efficient. Of course he could have some legal action taken on him if he was just using his repuatation to kill a random stock and then closing his position, but market manipulation =/= short activism.
I don't know anything about UDF but these are always fun to watch.
I don't know anything about UDF but these are always fun to watch.
Posted on 2/8/16 at 6:21 pm to Chris Farley
I personally think it's good for retail investors to have people like this to look out for them. I was all over this story and the research and it will definitely be a fun battle to watch.
There was a squeeze today but I'm pretty sure Hayman is all in on this, so I doubt it was them that closed their short.
quote:
Of course he could have some legal action taken on him if he was just using his repuatation to kill a random stock and then closing his position, but market manipulation =/= short activism.
There was a squeeze today but I'm pretty sure Hayman is all in on this, so I doubt it was them that closed their short.
Posted on 2/8/16 at 7:28 pm to Bernie_Madoff
Perfectly legal. See Bill Ackman v Herbalife.
Posted on 2/8/16 at 9:36 pm to cwill
I thought he didn't announce his short position until way after he publicly announced they were fraudulent?
Posted on 2/18/16 at 1:07 pm to Bernie_Madoff
Down over 50% today 
eta: Here's Why:
Kyle Bass' latest short target got raided by the FBI, and the stock is tanking
Yeah, nothing to see here...
eta: Here's Why:
Kyle Bass' latest short target got raided by the FBI, and the stock is tanking
quote:
UDF I was a real-estate lender and real-estate developer in the years leading up to the financial crisis. UDF I began to default on its debt, however, and used United Mortgage Trust to provide liquidity for UDF I, according to the report. As that problem continued, UDF III came along and then UDF IV, the report said.
Bass said the company had raised over $1 billion for four different public entities.
The company partnered with the brokerage firm RCS Capital (RCAP) to raise money from retail investors for UDF IV. RCS Capital was paid commission fees for selling the REIT to retail investors.
Bass accused UDF IV of since using that money to provide liquidity for UDF I and UDF III. Right now, UDF V is being used to provide liquidity to UDF IV.
Yeah, nothing to see here...
This post was edited on 2/18/16 at 1:11 pm
Posted on 2/18/16 at 1:20 pm to TigerDeBaiter
quote:
Bass accused UDF IV of since using that money to provide liquidity for UDF I and UDF III. Right now, UDF V is being used to provide liquidity to UDF IV.
UDF stands for U Definitely Fricked today
Posted on 2/18/16 at 1:22 pm to Bernie_Madoff
It only took 20 minutes for UDF to lose half of their market value before trading haulted.
Posted on 2/18/16 at 1:23 pm to Bernie_Madoff
Posted on 3/11/16 at 3:27 pm to Bernie_Madoff
quote:
UDF stands for U Definitely Fricked today
Found out yesterday that my grandfather's estate had a significant investment in UDF to the tune of $150-200k on the advice of his "finance guy." Of course it was in an IRA too so you can't even write it off
What is annoying is that I offered my mom to look over his investments to ensure this advisor wasn't a sham (which I suspected at the time). She didn't want me to "be involved with my grandfather's estate." I work in finance
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