to make a bid of FED at $30 and will send them price lists of option arm products to back up my claim that book value is $40. If they like I have advice on DSL as well. I hope y'all have capital to play with this game.
HedgeFund.net
{HFDN}
JANA Has Stake in Troubled FirstFed
by Christopher Glynn, Reporter June 3, 2008
JANA Partners has disclosed a 9.9% stake in troubled bank FirstFed Financial
Corp.
The hedge fund revealed its ownership in FirstFed in a filing May 30. JANA did not own a stake in the California company last quarter. Stock in FirstFed dropped 60% between November and May. A month ago, San Francisco hedge fund Menta Capital unloaded its entire 6,600-share stake in the company. The troubled housing market has hurt FirstFed. JANA is a shareholder activist hedge fund based in San Francisco.
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HedgeFund.net
{HFDN
JANA Has Stake in Troubled FirstFed
by Christopher Glynn, Reporter June 3, 2008
JANA Partners has disclosed a 9.9% stake in troubled bank FirstFed Financial
Corp.
The hedge fund revealed its ownership in FirstFed in a filing May 30. JANA did not own a stake in the California company last quarter. Stock in FirstFed dropped 60% between November and May. A month ago, San Francisco hedge fund Menta Capital unloaded its entire 6,600-share stake in the company. The troubled housing market has hurt FirstFed. JANA is a shareholder activist hedge fund based in San Francisco.
Got something to say about this article? Let us know about it! Readers are now
encouraged to submit their comments at the end of articles posted to
On another news, Zero-Participation Economy (TM) is intact per today's ISM Non-Manufacturing #s.
9 comments:
You are kidding about FED's book being 40 right? I am befuddled by JANA purchasing a stake in FED, their asset base is deteriorating at an incredible rate and their net interest income is also dropping like a rock. I think this may be a similar situation as when a large position was taken in DSL only to have the individual liquidate immediately after it was disseminated that he took the position. Maybe Jana sees the high short interest and thinks they can pop the stock and sell into it.
Caveat emptor. People sending you emails with analysis may have their interest not aligned with yours. :D
I guess this is the only pop I could get huh? damn the cowards. Why are people so difficult to send to suicide mission these days!!! Why can't they just BELIEVE of the power of short covering? Can't we pleaseeee short squeeze FED a bit more? Great So-Cal homes, please!
Bought and sold some ITM puts today on FED, made a nice 12% today... I wish I could make 12%/day on all my day trading.
I heard somewhere that Genesis went out on a date with this woman called Nothing, and found out late at night in a dark hotel room that he was sleeping with another guy?
Explains his foul mood over the Nothing fiasco.
hah!
That might have been the LC guy you talking about? Check out the bar. :D
LOL poor greenie got ransacked again!
Mtg - You are scandalous for writing Jana...you didn't seriously think it would inflate their already stupid-huge egos into taking down the other 90% did you????
:)
I gave redwood a very bad intel a year ago. This is not new for me.
I remember Redwood, I used to have both the bid and ask on some options, and I'd get hit back and forth for a while, it was fun! The spread huge, bid ask was $2 / $4, made some good beer money doing that.
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