June 29, 2007

Psst.. Hey buddy - want some Countrywide shares?

Here's desperate insider sales transactions at heap-o-trouble Countrywide, look at just May and June alone


Amazing.

When it happens, if people say "we didn't see it coming" then they were simply blind.

It's coming.

I picked up 5 CFC Oct puts today for fun... Execs pleading guilty to insider trading, a desperate CEO dumping everything he has, and a business model that has gone kaput.

37 comments:

Mark in San Diego said...

Couldn't agree more on Countrywide meltdown - I'm just waiting for the last hour of trading on the last day of the quarter - looks like the Wall Street "last hour meltdown" is here again. . .funny. . .maybe the PPT went home already??

guy n. cognito said...

.
.
.
.
he looks like Dr. Zaius from Planet of the Apes.

Anonymous said...

motherfucker is orange!!

that will never get old to me

Anonymous said...

Mozillo must have written a bunch of checks to w's campaign fund to stay out of jail this long.

wawawa said...

This guy is dropping his shares faster than French prostitute getting rid of her client.

democraatus said...

I don't know the exact numbers, but Angelo has been unloading shares year in, year out. Therefore, there is no direct link to insider knowledge and the insider trading of Angelo unloading his shares (unless the amount of shares has risen dramatically the last months).

So everything is OK with Angelo or he has played the game of insider trading very, very well by spreading his selling and maintaining a steady number of sells each month.

A smart guy after all.

Anonymous said...

did one too for oct 2007 at 32.50 as it was the cheapest bang for the buck

Anonymous said...

Thanks! I already had some puts on CFC and they jumped nicely today. Our friends at IMB are doing well for me too, I just hope the liars loans begin imploding before they expire so I can make some big bucks.

area 51 said...

Over the last 6 mos.
Shares purchased=0
Shares sold=4,303,440

And the public keeps buying and buying, despite what Investing 101, Investing for Dummies, Investing for Complete Friggen Brain Dead Morons, teaches that insiders' vested (or NOT)interest in a company speaks HUGE volumes.

area 51 said...

Another thing,
on all the talk show circuits NOBODY EVER calls Orangelo Mozilo on his stock dumping. They just bat their eyes and say, "Oh really? Your company is totally stable and stronger than all the competition?..wow Angelo you are so hot....sigh....."

Anonymous said...

ironically the nasdaq logo makes him look like he's got a halo in this picture. I say ironically since this guy might just be the devil himself.

HauspocalypseNow said...

hey mozillo was quoted a few months ago as saying "ive never seen a soft landing" back b4 the subprime meltdown. At least he warned em.

HauspocalypseNow said...

the 401k /pension plans and index funds seem to blindly buy all crummy stocks.

ez pickins for wall street.

its really an outrage most 401k plans are locked into the choice of 6 'funds' that are cronyfied with kickback money no doubt.

Anonymous said...

He must be spending the loot on carrot juice

Anonymous said...

I don't know how well he'll hold up in jail

bickerer said...

He almost looks normal in that picture.

.

Anonymous said...

Federal Regulators Toughen
Subprime Lending Guidelines
By DAMIAN PALETTA
June 29, 2007 2:51 p.m.

Federal bank, thrift and credit-union regulators issued final guidelines Friday aimed at curbing weak underwriting standards for subprime mortgage loans.

The new policy, which some in the banking industry are already saying goes too far, comes after a record number of borrowers with these loans entered the foreclosure process during the end of 2006 and the beginning of 2007, overwhelmed by flattening housing prices and mortgage rates that reset into much higher monthly obligations.

annon666 said...

Keith, good luck with your Oct CFC puts. I have some Jan 2009 CFC Puts. I stay away from short term options, timing is impossible. I've been burned on these uncovered short term options (yes, it is gambling). The LEAP options are more expensive but it worth paying for the extra time safety factor. I've never been burned with LEAP options. Just my opinion...

OC Mike said...

Make-up on a man. Awesome.

THAT is why they hate our freedom.

RJ said...

If Mozillo goes to jail, it will be the luxury suites. Democraatus, you're right on. He's been dumping for over a year. People like Mozillo are not stupid. Just sociopathic. I will say it over and over. Don't invest if you don't understand how the casino is rigged. Rule #1 - Understand that the credit cycle is the wealth transference mechanism for the Wall St. elite and their government cronies. Nominal market prices are meaningless. And the elite have all the inside information. Rule #2 - For every buyer there has to be a seller and vice versa. The sheeple as a whole can't win. It's like saying everyone is above average. Someone has to be left holding the worthless assets. It's never those with the inside info. The rest are lucky or unusually disciplined. But most get screwed.
Why play the game? Save your money, buy assets cash whenever possible, and invest in value,ie, good prospects at low prices.

Oompa-Loompas said...

OMG he's a Oompa-Loompa!

http://en.wikipedia.org/wiki/Oompa-Loompa


Oompa-Loompas lived in Loompaland, an uncharted place full of Snozzwangers, Hornswogglers, and wicked Whangdoodles, three classes of extremely dangerous creatures who preyed on Oompa-Loompas

Anonymous said...

Oompa, Loompa, doom-pa-dee-da
If you're not greedy, you will go far
You will live in happiness too
Like the Oompa Loompa doom-pa-dee-do

Anonymous said...

Mozilo looks like Uncle Ben from Uncle Ben's Rice. Maybe Cramer will have him on again for another pump & dump session. Notice how well SBUX has done since Cramer had Schultz on? Gotta get the price up a little bit to unload before the big drop.

Anonymous said...

He will look good in his little orange jump suit won't he?

sequoia512

Anonymous said...

i think this countrywide company is all mobbed up. i asked a friend about it the other day and she told me that she knew people who work there, since she is a former california type person...i asked her to get them to send some stuff to mortgage implode, but so far no luck... this guy looks like he belongs on the set of the sopranos.......

Anonymous said...

That guy may actually have to get his tan from the sun, because that's all he'll be able to afford after the investigation!

Anonymous said...

.......he is orange!

vinnie gorgeous said...

What does Michael Jackson have to do with the housing bubble?

Anonymous said...

Michael Jackson, housing and little boys pants...............

both half off!


Couldn't help myself!

Anonymous said...

I got in trouble in art class when I painted someone of that color tone! The instructor said, "bad use of flesh tones", and failed my project!

Anonymous said...

Do you turn that color when you have something to hide?

Anonymous said...

http://tinyurl.com/2ac387

another good short!!

Anonymous said...

Tough to spend his money in jail

Just ask Bernie Ebbers

Anonymous said...

Three Subprime Titanics Are a Side Show

By Jim Cramer
RealMoney.com Columnist
6/29/2007 11:34 AM EDT
Click here for more stories by Jim Cramer


American Home (AHM - commentary - Cramer's Take - Rating) put up a good fight, until today. NovaStar Financial (NFI - commentary - Cramer's Take - Rating), amazingly, fights every day. How is Fremont (FMT - commentary - Cramer's Take - Rating) still trading? What is it, after all that has been sold?
Rather than focus on all the possible hedge fund blowups out there -- because there still will be some -- the media should be camped out at these three institutions. In fact, I don't understand why someone doesn't want to earn a Pulitzer Prize by prying into NovaStar.
These are the troika of publicly traded companies that should make every bull shudder. As long as they are out there telling you everything is under control, as American Home did for months -- you know that the short side's got some real ammo.
I have never believed that subprime can wipe out or even damage much the investment banks that we all know and now hate. That's because those investment banks' multiples are low, their managements strong, their tradition of excellence long and their ability to take any side of the trade legion.
American Home, NovaStar and Fremont have no such tradition. They aren't anything special at all. Unlike the great investment banks, none of the people who run these places are at all thought to be, well, quality. They are all lesser lights who put together banks that don't have much wherewithal and certainly not much tradition. They don't seem to have much idea of risk or what they heck they were doing.
Will they be as outrageous as New Century? I don't know; that was so outrageous I don't know if it can be topped.
Will they turn out to be OK trying to salvage something like the people at Accredited (LEND - commentary - Cramer's Take - Rating)? That's certainly the hope, but if that is the hope you have to recognize that you are in trouble. That realization didn't dawn on Fremont until recently, and it apparently

Anonymous said...

NEW YORK, June 21 (Reuters) - NovaStar Financial Inc. (NFI.N: Quote, Profile , Research), a subprime mortgage lender seeking a buyer, said on Thursday its residential lending unit agreed to pay $5.1 million to settle a federal class-action lawsuit accusing it of charging higher rates because of hidden fees it pays brokers.

The settlement removes a potential obstacle to a sale of NovaStar, an option the Kansas City, Missouri-based company said it was considering when it announced on April 11 that it would explore strategic alternatives.

In the settlement, NovaStar Mortgage Inc. agreed to includes $3.3 million to be paid to the roughly 1,600 class members, or just over $2,000 per person, plus $1.8 million for legal fees.

K.W. - Southern Ca. said...

Don't confuse smart with being a crafty weasle.

He's a crook, nothing more, and has learned what to do to cover his butt.

Mozillo deserves only jail - no respect.

This whole housing fiasco has become the Enron crisis ... on steroids.

democraatus said...
I don't know the exact numbers, but Angelo has been unloading shares year in, year out. Therefore, there is no direct link to insider knowledge and the insider trading of Angelo unloading his shares (unless the amount of shares has risen dramatically the last months).

So everything is OK with Angelo or he has played the game of insider trading very, very well by spreading his selling and maintaining a steady number of sells each month.

A smart guy after all.

Dragonsbane said...

I know people usually want to get the most bang for their buck with puts (ie out-of-the-money near dated). But on a risk/reward basis, the best puts to buy are far dated in-the-money puts because you're paying the least for time and they have an inherent intrinsic value.