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To: energyplay who wrote (62347)	4/21/2005 12:53:34 AM
From: shades	Read Replies (2) \| Respond to of 74559

Agreed, I think chen said earlier goog was a short, what about the financials - they don't have hard assets like the home guys - but lots of worthless debt eh? What index can I short that will cover a lot of guys in the worthless debt sector? My redneck friend that bankrupted in ga 3 times now has guys from 1998 still trying to stick him with credit card debt - his account has been sold back and forth like 18 times or so in the past 4 years to all these debt collection companies - he said he is going to bankrupt again before his 180 days are up - so they will take a big loss for now no.

To: energyplay who wrote (62347)	4/21/2005 12:56:49 AM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

yup agree not to zero but a lot less than now, and meaningfully so, especially on option leveraged basis

To: energyplay who wrote (62347)	4/21/2005 1:06:50 AM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

on the USD, it will also not go to zero, especially these 24K USD cleveland.com :0)

To: energyplay who wrote (62347)	4/21/2005 8:14:41 AM
From: Slagle	Read Replies (1) \| Respond to of 74559

energyplay, Re: "real value" of housing stocks. Back in 2001 we were selling a piece of property in North Georgia, 500+ acres withing commuting distance of Atlanta, beautiful place with rolling hills and view of the mountains, in an area with a lot of growth and that was becoming a "bedroom community" for Atlanta; perfect property for a residential development. We made contact with one of the national homebuilders, one that was active in the Atlanta area and I think that it was Pulte, though I don't remember for sure. They first offered us a real "lowball" price for the property but then later made another proposition: a long term renewable option for which we would receive periodic but not unsubstantial annual payments. We would have full use of the property (there were still cattle on some of it) and they could go ahead with planning, permits ect. We didn't want to tie up the property so we didn't proceed with them. I have wondered if this is common practice for these outfits, are there farmers all over the country being paid an option fee for their cow pastures and corn fields by the housing companies? We may have been a special case in that we were 25 miles further out from Atlanta than this home builder had ever operated. Slagle