muscleman

Yesterday, I just said I was worried if too many cases are filed, there might be something unexpected going on. Now it just happened. Luckily Perry and Fairholme cases are not included here, but those move far more slowly than the Delaware fast track court. :(

Found this on Investor hub. Not sure if it is true, but this guy has had direct communications with Steel in the past. fast reply from Judge Steele … *************************************************************** <usnavycmdr@gmail…6:25 PM (1 hour ago) Good Evening Judge Steele … Can Delaware State Law prevent this ? Will this just be more unlimited Delays ? ************************************************************** Steele, Myron T. 7:46 PM (14 minutes ago) to me Frankly, this is new to me. Sent from my iPad ************************************************************* 7:58 PM (6 minutes ago) to Myron Thank you Judge Steele … The Govt’s at least consistent in always attempting to dismiss or constantly delay bringing the actual Rule of Law question to the court … I think they pulled this latest move because they could see the DELAWARE Case was moving expeditiously and it’s so clear that the GSEs are ruled PRIVATE and GOVT has violated DELAWARE State Law

http://fordhamlawreview.org/wp-content/uploads/assets/pdfs/Vol_78/Richards_October_2009.pdf Some introduction to MDL. Does anyone know the average timeline for MDL to decide?

I've never heard of this case. With so many cases going on, I wonder if there are any run by below average lawyers and could unexpectedly deal a blow to us?

Got it! Thank you!

In the Aurora Loan case, the judge ruled in favor of the government. Is it possible that in the Jacob Hinde's case, the judge also rules in favor of the US government? ::) The judge said: "As we have previously held, just because an entity is considered a federal instrumentality for one purpose does not mean that the same entity is a federal instrumentality for another purpose. " So can judge Sleet rule "for the purpose of defeating the hedge funds" that FNMA is a federal instrumentality? Of course the language won't be that obvious, but if he wanted to rule for this purpose, he could come up with some Lamberth like language. Can he? ::)

Thanks a lot! "Wells Fargo was constantly testing new lows, plunging on fears of its California real estate loan exposure. The market was unbelievably fearful, and the company’s share price was trading at just two times pre-tax, pre-provision earnings. " "I can’t help but conclude that our current portfolio has as much, if not more performance potential than any of the past investments. " I don't understand this. Can he point to me the pre-tax, pre-provision earnings of BAC at this moment? It is far more than 2x.

Hmm.... No one knows what happened behind the scenes when Northern District of Iowa reinstated the stay for the administrative record. I thought there would be an oral argument for this matter first.

I dont think you have met Amazon or Facebook investors. :) Vinod OT. Unfortunately I have. Google, Apple and Netflix investors too. :/ Seriously though - (still off topic) - you look at this and say: OMG, this is so simple; it should be so simple; if only I bought any of FAANG 10+ years ago and held... (no really this is OT and should be moved out if we continue this ;)). Google and Apple are the typical buy at fair price and wait for wonderful things to happen type of stocks 10 years ago. Not sure about now. I've been looking at other asset light high growth stocks but can't find any that justifies the fair price. I still cannot understand NFLX as of today.

"move for leave to file under seal Defendants’ forthcoming Brief in Support of the Motion to Reinstate a Stay of the Deadline to File an Administrative Record" Could you tell me what this language means? Does it mean the defendants acknowledged that they indeed should file the administrative record, and they will comply with the deadline? If this is the case, then why did they previously argue that they don't need to do so, but suddenly changed their mind? It means they want to file a brief so that they don't have to file an administrative record. Why would plaintiffs agree with this? Putting a gun to their head to force producing an admin record would be really good for the plaintiffs. Most likely there is no admin record. ::)

"move for leave to file under seal Defendants’ forthcoming Brief in Support of the Motion to Reinstate a Stay of the Deadline to File an Administrative Record" Could you tell me what this language means? Does it mean the defendants acknowledged that they indeed should file the administrative record, and they will comply with the deadline? If this is the case, then why did they previously argue that they don't need to do so, but suddenly changed their mind? It means they want to file a brief so that they don't have to file an administrative record. Aha! So this probably implies that they don't have an admin record at all? If they have, then what's the point of holding back? Or maybe someone producing the admin record at that time was afraid of getting trouble, so he said something not good for the defendants in the record?

"move for leave to file under seal Defendants’ forthcoming Brief in Support of the Motion to Reinstate a Stay of the Deadline to File an Administrative Record" Could you tell me what this language means? Does it mean the defendants acknowledged that they indeed should file the administrative record, and they will comply with the deadline? If this is the case, then why did they previously argue that they don't need to do so, but suddenly changed their mind?

What's the advantage of using the desktop version instead of online version other than the ability to import IB 1099? The online version is able to remember last year's loss carry-forward, though I know I can just manually do that myself.

It was fine for me for the past few years. Maybe their server is down for maintainence. Who knows. I always file tax early, in late Feb or early March.

10k to have lunch with both bill and Bruce? What a bargain! A lot cheaper than having lunch with Buffet!

Platform value again? Come'on. He admitted this is phantom value in his recent letter. ;D

How did they get so much capital to invest given the past 4 years of poor performance?

Since you self-fund, and your return on equity is over 15%, what's your return on assets? I assume it is also 15% given you use no leverage? So the interest rates of your loans are well above 15%?

Can Parrot refuse to answer deposition questions by claiming executive privilege? I thought The executive privilege is meant to hide the truth from the public, but should be visible to the plantiff lawyers. Otherwise how will the plantiff lawyers litigate properly if the defense simply claims everything under executive privilege?

We are not a bank. We don't attract deposits or anything like that. We're just guys who lend money. There's no licence needed. We're the only lenders in town, which helps a ton. If you were competing with other private lenders my advice would be give great service to brokers. Do stuff like make quick decisions. Brokers want the path of least resistance. Like I mentioned above, a loan fee gets added onto the principal. Total fee of $3k is what we usually do, with $1k to us for lawyer's fees and $2k to the broker for doing the loan. If the loan is smaller (between $10k and $20k), the broker will usually take less. We've evolved to the point where we don't do many broker deals anymore. The one mortgage broker in town quit, lol. Tempted to get into the game, but I'm not especially bullish on real estate in general. Thanks a lot! Have you ever thought of becoming a bank, attract deposits and grow into a bigger lender?

Are you operating as a bank? How did you get the license? Are you attracting deposits to do your lending or are you using merely your own money? How did you get a mortgage broker to work with you instead of with other lenders? Do you pay a referral fee to them for each closed deal?

Only incentive stock options seem to have this tax benefit, but that requires you to hold it for a year after exercising the option. I've rarely seen execs holding it for a year. They usually sell on the day of exercise. RSUs seem to be taxed just like cash.

Thank you! ;D

Sorry to ask this seemingly dumb question. I did a bunch of Google search but can't find the answer. Does anyone know if Mark to Market account impact revenues in anyway? I read a few explanations and none mentioned revenue impact. :-[ Is there any entry like "trading losses" or "trading gains" on the income statement?

My question: How much money did he raise when he initially started his fund over 10 years ago? How did he convince people at that time?