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Strategies & Market Trends : Value Investing
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From: rllee3/9/2010 2:19:48 PM
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FMD - A forgotten name just touching new highs on high volume. Some positive comments on this one from the board, seems like new management is doing some good things:

From some recent postings -

"With $449.0 million in cash, cash equivalents and short-term investments, I say it is high time to send Dan Meyers a big thank you for canning a bunch of misfit managers and so call executive leaders and doing what he said he would do – putting cash on the balance sheet and getting back to the fundamentals of this business.

Although we have a long way to go, the possible sale of the RI bank and TERI Ch. 11 settlement may bode well for FMD and their shareholders. Spring is here and soon too will be peak season for FMD – securitization in the fall? Maybe

I’m betting on Dan. I bet he can get a 10% 2010 return on that $449.0 M cash portfolio too! "

"Beside the $12-$86 million owed to FMD for services rendered, can FMD benefit from the settlements with the securitized trusts. From what I have gathered a lot of the funds owed to the trusts will be paid back affecting the residuals of which has been accounted for of course negatively on the FMD balance sheet. Although I know FMD has sold the majority of the residuals they still earn fees based off of their performance. Can we not conclude that these TERI payouts to the trusts could positively effect currently held and sold residuals? Meaning not only could FMD receive the $12-86 million in cash but also bumps in currently held residuals(not sure if there have TERI backing) and the fees gained from residuals sold?"

One worth watching IMO for a 2 bagger?
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