GTNWORSE Posted November 7, 2003 Report Share Posted November 7, 2003 IVAN!!?? Oh great, just fu*king great! Link to comment Share on other sites More sharing options...
Hypertiger Posted November 7, 2003 Report Share Posted November 7, 2003 The real estate boom which started in 91 is the greatest boom ever... The Carlton Sheets gift of gab no money down swindle is not doing so hot... Link to comment Share on other sites More sharing options...
wndysrf Posted November 7, 2003 Author Report Share Posted November 7, 2003 Take any residential street in Manhattan Beach, Redondo Beach or Hermosa Beach. Each street has a minimum of 3 spec homes under construction. Luxury spec homes. Unlike the Inland Empire where the Lennar's of the world are putting up McMansions in planned new subdivisions, the beach city buildups are usually done by local mom and pop home builders who have connections with the local city commision to grease the permit process. Three years ago, the builders would raise equity from wealthy neighbors and borrow money via a construction loan to finance the construction. The house would be finished, sold, construction loan paid off, and the builder and the investors pocket the profits. These "wealthy" investors had real cash. Idle cash, just laying around finding a place other than bank CD's or the stock market. Three years ago, only a handful of "teardown" to "spec home" properties were built each year. Today, the scene has morphed into something unimaginable. Everybody and anybody is clamoring to get in on the action. Builders used to pay $350,000 for postage size teardowns, now they are paying $900,000 for these lots. Worse, many people are getting 2nd mortgage refis and using credit card cash advances in order to "participate" in these equity sharing deals on the spec houses. The builder's main problem now is not building the house. Or selling the house. His main problem is finding more teardown properties so he can put the huge pile of leveraged cash to work offered by his father in law, the next door neighbor, the massage therapist, the owner of the gym, and the credit card gamer, all wanting a piece of the action. As a result, builders have chased lot prices up to the $900,000 area. I know one guy who borrowed $120,000 off 10 credit cards and invested with a builder in a double lot oceanfront spec house. Cost of land and construction: $4.5 million. Current asking price: $8 million. If the property sells for $8 million, he doubles his money. Home prices are going parabolic. Not because of the choice locations, but because Credit Bubble Dynamics has created a frenzy of price appreciation. People are buying these custom houses because they are going up 25% every 6 months. Link to comment Share on other sites More sharing options...
Hypertiger Posted November 7, 2003 Report Share Posted November 7, 2003 To those who talk about years or decades this is what you are betting the farm on... Link to comment Share on other sites More sharing options...
crooked_analyst Posted November 7, 2003 Report Share Posted November 7, 2003 Following a negative article by Bloomberg, BIFS issued a response about the attempts to "discredit legitimate companies such as ours." On August 25, the BIFS' story grew "curiouser and curiouser." Two "reports" surfaced that day. One, by Pluvia Securities, issued a "strong sell" recommendation on August 25. The so-called research firm, which may or may not be run by the infamous Steven Alan Keyser (no relation to BIFS's chief executive, according to Knapp), was previously sued by Sabratek [sBTKQ] for similarly trying to drive its share price down. Sabratek now trades for $0.02 a share. Pluvia and its personnel are reportedly wanted by the IRS and other authorities, and Knapp states "We are looking for this guy just as bad as everybody else is." Link to comment Share on other sites More sharing options...
brian4 Posted November 7, 2003 Report Share Posted November 7, 2003 Last night Bare posted a rambling discourse about how something was up with the call up and mobilization of 110,000 reservists and National Guardsman-well I agree with Bare-something is up. A normal rotation of troops is done gradually not en mass as this is going to be. Plus when the boys coming home go back to their bases after their leave they still have to paid, fed and clothed as do the 110,000 who are being called up. That will push the deficit thru thru the stratosphere and even Shrub ain't that dumb horrendous extra cost in an election year would have Congress and the Senate eating him for lunch-nope something else methinks -another adventure is in the offing. Stay tuned- the World and the markets can't take another adventure. Looks to me like the inmates who are running the institution may be seeking another dust up to boost GDP-or am I just to damn cynical?? Trade Safe! Link to comment Share on other sites More sharing options...
dozer Posted November 7, 2003 Report Share Posted November 7, 2003 well. well, well, well... also: whew! I came THIS close to hopping onto IVAN this week, but then the phone line went down, and it took 2 days to get connected again....and by then it'd already taken off big-time; so I decided to pass for this stage. whew.... Pure luck, and nothing else. I hope any stoolies holding it can get out OK on monday; if it proves to be a problem, that is. To go along with HT's RE chart... Calif. car sales drop amid uncertainty on car tax Forbes - 10 minutes ago Car dealerships are nearly empty these days, as salesmen speculate how soon it will take Gov.-elect Arnold Schwarzenegger to keep a promise he made that helped him win the recall election -- to repeal the unpopular car tax increase... Course, there could be other reasons for the showrooms emptying recently... Also, this just in: Intel (Quote, Chart) Friday confirmed it has padded its wireless portfolio with the acquisition of Hillsboro, Ore.-based Mobilian. Guess it wasn't PMC Sierra then huh? Didn't windy post on IDS today about PMCS'ers standing in the line of fire? Poor cBearman girliebulls...uh-oh... Link to comment Share on other sites More sharing options...
crooked_analyst Posted November 7, 2003 Report Share Posted November 7, 2003 Last night Bare posted a rambling discourse about how something was up with the call up and mobilization of 110,000 reservists and National Guardsman-well I agree with Bare-something is up. A normal rotation of troops is done gradually not en mass as this is going to be. Plus when the boys coming home go back to their bases after their leave they still have to paid, fed and clothed as do the 110,000 who are being called up. That will push the deficit thru thru the stratosphere and even Shrub ain't that dumb horrendous extra cost in an election year would have Congress and the Senate eating him for lunch-nope something else methinks -another adventure is in the offing. Stay tuned- the World and the markets can't take another adventure. Looks to me like the inmates who are running the institution may be seeking another dust up to boost GDP-or am I just to damn cynical?? Trade Safe! Hey Brian, Maybe that's where all of the Jobs came from..... Link to comment Share on other sites More sharing options...
Tchaikofsky Posted November 7, 2003 Report Share Posted November 7, 2003 IVAN!!??Oh great, just fu*king great! GTN: Check out this response to the message. Also, look up "Pluvia Securities Research" in your favorite search engine. You'll see some interesting stuff. Link to comment Share on other sites More sharing options...
patriot Posted November 7, 2003 Report Share Posted November 7, 2003 Hello Brian4, Was not the fictitious 200,000 - 300,000 added jobs just a gaming # to drive market higher (all the better to to cash out longs go with puts?). Even the guy from the cboe on Crapvision mentioned this as a 'whisper' #. Who the heck is whispering? What a bunch of greedy pigs that play this game. The SEC should investigate these phony #'s. Freedom of speech? Why not go to the movies tonight and yell: I think there is a fire in here? Thanks to all who post. Heavy short on AMAT and NVDA Sold long ebay yesterday and did well. Maybe I'll ask my wife (after reading all of your great ideas tonight) if i can sell the house, live with her mother for a while and short this thing to bedrock. Best to all patriot Link to comment Share on other sites More sharing options...
wndysrf Posted November 7, 2003 Author Report Share Posted November 7, 2003 AB just posted this on stool's gold. Fraud watchers "pluvia" all over IVAN http://www.siliconinvestor.com/stocktalk/m...?msgid=19476469 I heard that Marc Faber is a director of IVAN. Highly unlikely that there is any fraud, if he's involved. Might want to check the SEC records to find out for sure. Link to comment Share on other sites More sharing options...
Hiding Bear Posted November 7, 2003 Report Share Posted November 7, 2003 The real estate boom which started in 91 is the greatest boom ever... The Carlton Sheets gift of gab no money down swindle is not doing so hot... Even a bear like me had to take a second look at the heavily manipulated government figures which show that rental income peaked three years ago. Assuming that most rental income derives from real estate, it implies that real estate is generating less and less income as the price goes higher and higher. That would be similar to repeated dividend cuts in a rising stock market, which I doubt even mo-mo would view favorably. Link to comment Share on other sites More sharing options...
Tchaikofsky Posted November 7, 2003 Report Share Posted November 7, 2003 And the beat goes on . . . Stocks Fall as Strong Jobs Data Priced In Fri November 7, 2003 04:49 PM ET By Rachel Cohen NEW YORK (Reuters) - Stocks fell on Friday as concerns over recent lofty share price gains dampened enthusiasm for a report showing U.S. businesses hired more than twice the number of workers expected in October. The U.S. economy added 126,000 nonfarm jobs last month, marking the third straight monthly gain, while the unemployment rate slipped to 6.0 percent from 6.1 percent in September, the government said. The report bolstered investors' hopes that the job market is catching up with the broader economic recovery. Some investors worried that the market rally since March may have already priced the improvements in, anal cysts said. "It was a fairly muted response to the jobs number ... there was anticipation that the number was going to be good anyway," said John O'Donoghue, managing director of listed trading at Credit Suisse First Boston. "Everybody thought we'd be off to the races, but in essence we've priced in a lot of the expectations already." Stocks opened higher on Friday, but major market gauges cut gains just minutes after the bell and ended below the fresh 2003 highs they hit early in the session. Stocks have surged the past several months as investors bet on a solid economic rebound. The market staged a late-day rise on Thursday ahead of the jobs report. ============================= Boy, those Stocks must be tired after doing all that surging! Link to comment Share on other sites More sharing options...
brian4 Posted November 7, 2003 Report Share Posted November 7, 2003 Re Ivan pls read anal cysts post-I mean Puhleeze- a posting on a few chat boards by a group of well known wing nuts and all of a sudden a Company is a Fraud-Anyone who has done due diligence on Ivan knows otherwise. Thom Calandra over at CBS Marketwatch has written extensively for months on the Company, its holdings, its prospects and the people who run it and their sister Company. We got a mania alright when an accusation is made repeated over and over as Gospel and a good company takes a hit in their stock price. With all the lying, cheating, smoke and mirrors con artists running bogus companies that people invest in and get smashed and lose everything-if the accusations are real the securities boyz will be over Ivan like a tent if they aren't well then all is well. Trade Safe! Link to comment Share on other sites More sharing options...
MyGoldenStool Posted November 7, 2003 Report Share Posted November 7, 2003 AB just posted this on stool's gold. Fraud watchers "pluvia" all over IVAN http://www.siliconinvestor.com/stocktalk/m...?msgid=19476469 I heard that Marc Faber is a director of IVAN. Highly unlikely that there is any fraud, if he's involved. Might want to check the SEC records to find out for sure. Interesting- when it was below $3, the shares were always "restricted" (no shares available to borrow) in my Wattahose account. Now that it's way up in price, no more restrictions. Methinks someone got hung out to dry on their shortsale. Link to comment Share on other sites More sharing options...
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