Hello Pezz, Last Night's Report:
Lovely night of looting. My NAV went up.
Doubled up on shorts against:
Centex finance.yahoo.com at 61ish
Lennar finance.yahoo.com at 58ish
Pulte finance.yahoo.com at 76.5ish
I feel the same as I do when nearing the end game in on-line Unreal Tournament, as my team surge forth in onslught mode and individual members rampage within the defenders' base camp. Kill or be killed, the final struggle time.
I need tech names to short, any ideas?
I like housing shorts, because the potential gains are more plentiful, since at this stage housing is a tax revenue source to the strained local governments, risk to the financial institutions, consumption to the primary owner-resident, convenience to the renter, and questionable allocation of capital for the investor, and many are fatally bloated on toxic debt, even as the general global environment will aid in the onslaught yet to be.
Housing shorts could turn out to be a generous seam of cheap cash.
On another front, the (speed of light) Japan real estate club deal I committed to just called for 50% of committed amounts. Looks like they will be closing with local partners on a commercial/retail building in Tokyo at 71% leverage. This move will allow the club members to tap into the rich vein of Japanese wealth, helping the Japanese to dissipate same faster, to where it is needed most, our dinning tables.
Chugs, Jay |
