TSX:MIC.PR.A - Post by User
Post by
Badger7on Jan 28, 2010 10:19pm
437 Views
Post# 16731077
don't be fooled
don't be fooledtoday is the peak of premiums sold, and they couldn't best last year's numbers and home prices at highs with interest rates about to move up
short the highs during the next day or so and thank me in one year when this is low single digits
Genworth got rid of this arm and sold it on the backs of Canadians , so expect a scandal in the next 12 months or so as this is likely a good indicator of the sovereign crisis to come to our lovely Canada
no thanks to the same who brought the S&P500 to 666 in March of 2009
the new stock era to come is buy things at 1/4 to 1/3rd of book and sell them when they are trading above book
it's that simple
book value here is about $22
down it will go after a little blip tomorrow is your opportunity to hedge your declining home prices to come
consider this POS a gift on that note, and especially to condo owners who will really need a good short like this