great day, page-43

Any season trader/investor should know by now that the public media is using sensational reporting to sell news, usually as it happens or just after the fact. However with brokers, they also usually based their assumptions/valuations on current parameters and Pattersons have been one of the few brokers with a BUY on FMG when everyone didn't even bother covering them in the early days. That doesn't mean I agree with some of the parameters they used for such bullish valuation which also means there is a market.

I am looking at their cash position and debt maintanence and if the IO prices meander around these levels the company will have difficulties staying solvent unless as the media anticipates, 'radical' solutions are used by Twiggy. Obvious option that comes to mind is Cap raising. If that happens, is he going to use margin loans to maintain his % holdings? More thoughts for the shorters and I mean the Chanos kind who can move markets when they smell a wounded bull.