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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: KirbyJF1 who wrote (510)	4/26/2012 12:51:32 PM
From: turnaround_seeker	2 Recommendations Read Replies (1) \| Respond to of 1876

Sir Kirby.....its like I told GF these miscreants who you refer to as muppets are disingenious because of any involvement that you or I or anyone else for that matter have to do with the turnaround of Novastar Financial. Their intent is to disrupt,distort and do whatever they deem necessary to make Novastar out to be a bad company. You may have heard me say that Novastar miscreants come in all varieties, but these three are most prevalent in my honest opinion; 1. Disgruntled Shareholders who sued Novastar and Lost 2. Disgruntled former employees (some managers) 3. Individual Shorts and Hedge Funds who targeted Novastar for Destruction and haven't been able to destroy them. Kirby, these individuals have shown that they are no better (and worse in my mind) than what they accuse investors like you and me and Novastar of 24/7. Take the short Marc Cohodes of Copper River for example. It wasn't enough for him just to identify Novastar as a short candidate because someone like a Michael Burry recognized the mortgage industry imploding, Cohodes also became involved in illegal naked shorting, "throwing things over the wall" to the SEC in the hope they would close Novastar down, and finally, duping the financial news media into believing his charade. And while I will agree in retrospect that Novastars business model collapsed like so many others, it was NEVER their intent for that to happen. Did they make some bad loans...sure, everyone in the business made bad loans. Did management intentionally make fraudulent loans...absolutely NOT and thats what so many miscreants have accused them of. Did they have compliance issues in 2 maybe 3 offices out of 400 around the country....sure everyone in business today needs to address regulatory and compliance issues and I've learned that Novastar had a regulatory compliance division to handle these issues. Bottomline, Novastar was no more a criminal company than you or I are criminals Kirby, but that doesn't stop the miscreants from throwing their fabricated garbage over the wall. Stay tuned! Rich aka Rooky