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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 11:52:13 PM
	of 1876

GF- turnarunds in Banking are tougher to find The time to pick most of the survivors was 2009. In banking, if 10% of your loans are bad, you have a huge problem yet 40-70% of Novs loans went bad. Subprime is about taking appropriate risk for the return and clearly Novs failed miserably. Their loan documentation and review was a disgrace New management would be a positive in a turnaround sometimes and an appropriately compensated managment which clearly is NOT the case here.

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