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Big Ears

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About Big Ears

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  1. Bill Gates seems to think so too! http://www.bloomberg.com/apps/news?pid=100...iQeANA&refer=us
  2. NRK share price went down largely because they are stating far higher then expected earnings hit due to the new accounting standards. The market was expecting 5%, and NRK are stating 10-12%; some think that NRK are hiding underlying weakness in the business through this vehicle. Whichever way, most of the sector got dragged down by this. The key statement in the moneytimes article is: "profit margins ought to be under less pressure unless lenders stupidly undercut each other to gain market share." What do they think the likes of NRK have been doing, and will undoubtedly continue to do in
  3. Note that there share price is taking a hammering....this is because they are saying that earnings will be hit 10%-12% under the new accounting rules!! - the market was expecting 5%!! So, the question is 'is there an underlying weakness in the business that they are trying to hide in the 10-12%?
  4. I too have been wondering why Halifax news has been released in such a high-profile way (ie. lead on BBCNews24 all day, front-page of Times etc).... After all, the only new real news is the 'lowest in 23 years' bit! My guess is that they are seeing the mortgage market stalling, and they know that the ONLY way to get the market moving again is for prices to come down. Guess they are also betting that falling prices will hurt the small mortgage players (Northern Rock, B&B, A&L etc) far more then them in terms of neg equity/defaults, 'cos it is they who have been most silly in terms o
  5. This may be useful. IMO when this baby starts dropping it will be steep and deep! http://business.timesonline.co.uk/article/...1450168,00.html January 21, 2005 Tempus Countrywide IT IS not the best time to be running an estate agency chain. The UK housing market has performed sluggishly over the past few months following a string of interest rate rises last year. Liquidity, meanwhile, is drying up and prices are going nowhere fast. Countrywide, the UK’s biggest estate agency chain, whose brands include Bairstow Eves and John D Wood, has been feeling the pinch as hard as anyone. Count
  6. WRONG! Go back a little further in history and look at who developed most of the basic elements of modern civilisation. It is only because the western europeans raided and looted the wealth of other countries that they were able to fund the development of 'industrialisation' and the subsequent discoveries/inventions. STOP kidding yousrself, and being led by popular media - do a bit of reserach and READ HISTORY!
  7. If there is so called 'Mass Immigration' it is (as always) because that there aren't any 'nationals' willing to do the CRAP jobs. Beleive me, the UK is NOT the most popular place to come any more. It's just because the Brits think that flipping burgers or cleaning is beneath them (as in the sixties with transport work). The 'foreigners' are happy to work for minimum wage - and the locals are not! - simple supply and demand! Stop f****ing whinging about foreigners, and get off your ass and get a job! There is NO WAY these people are gonna go away as long as they are prepared to accept a lo
  8. You're right. It's not anything particularly new. I guess that B&B's timing (ie. at the peak of the market) is what's bringing out the criticisms now.
  9. Note that their survey focussed on those landlords that have been in the game for a long time: "More than 8 out of 10 (83%) landlords have been involved in the business for 6 years or more, and 35% have 11 or more years’ experience. 8% have over 20 years’ involvement in buy-to-let." Ofcourse these guys will not bail out.....I'd love to see results of a survey that focussed on those landlords that entered the BTL market say 2-3 years ago!!
  10. Well, I think it must be a case of begiiners luck - my first ever 'short' and I am up a 'few quid' on my NRK short- am expecting more next week as a result of reports on mortgage lending from CML etc. I have to say that this 'shorting' lark is great....(guess I may change my view when/if I get burnt!)
  11. Very very good point Yandros. I have to say I have been recently wondering if HPC should 're-brand' itself - in name, structure, and content - to serve a wider community. As the market gets worse I expect that there will be a mushrooming in new users of the forum - both buyers wondering whether/when to jump in, and sellers wondering what on earth is going on and seeking to share experiences with others in the same boat. In its current format HPC probably alienates many new browsers, particularly vendors. Could we (Should we?) do something to encourage these guys to come on and tell their st
  12. Anyone know when CWD results are out for 2004? - I can't find anything on there website.
  13. Am now shorting CWD, PAG, and NRK. Got a bit lucky with PAG on the very first day - hope it continues next week. Hope I have caught NRK at (near) their top - guessing (hoping!) that the fund manager buying will have dried up, and we should beging to see a small slide.
  14. I've gone for a June close for CWD, and am thinking of doing the same for PAG and NRK. I reckon NRK has been propped up by takeover speculation. They are heavily reliant on new mortgage lending and re-mortgaging - with a 'slowing' housing market, lower valuations, and hopefully higher IRs their revenues should take a hammering. Also, I've heard, third-hand ofcourse, that there has been some seriously dodgy self-certs through NRK. I reckon their share price could be up for a 20-30% correction over next few months. On a similar note, I can't see what on earth is propping up PAG share price!!
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