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Strategies & Market Trends : Turnarund Investing

NOVS 0.0666

-16.0%

Aug 1 5:00 PM EST

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From: bankbuyer	4/24/2012 6:10:32 PM
	2 Recommendations Read Replies (1) of 1876

Here is the chart since I thought AVOIDING this awful company was prudent in early 2007 You see they wrote sham mortgages using their own "Ignore the Rules" underwriting guidelines. They wrote to production quotas not quality. That is why mortgages began to IMMEDIATELY default and why default rates run between 40-70% to this day. By reneging on the final declared dividends, they saved some cash so they could buy a few small businesses so that management could have the egregious salaries they have today. That is, the management that didnt quit immediately and go into hiding. Lol "Defend" myself, that a hoot. The chart below is enough defense.

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