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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: turnaround_seeker	4/25/2012 6:04:48 PM
	of 1876

RE: Sad to say, but CASH from Novastars Bond Portfolio will be diminishing as in the "Law of Diminishing Returns" as you should have learned about in Econ101. Novastar, much to the chagrin of the 24/7 miscreant brigade generated 724K this month from bonds, and if I were to share with them the amount Novastar is expected to receive from the 2003-2 deal because the delinquency rate dropped below the trigger point of 17% they might just hang theselves from the highest tree. Bottomline, neither Novastar or longs are denying that cash from securitizations won't eventually dry up, but thats NOT the point, and the miscreants know it. The point is that Novastar is no longer in the subprime mortgage business, and they've built a new infrastructure and business model that will not have the need for the kind of cash thats cuuently being generated from their old securitizations. Stay tuned....I'm not going anywhere. Rich aka Rooky

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