Wednesday, January 06, 2010

Beazer Homes

These clowns are in a tough industry. And yes, they made great money on the way up.

On the way down, the rosy forecast they came with yesterday made me want to vomit.

The rosy forecast of issuing another 18,000,000 shares and diluting existing owners of the company by 45% was another travesty of epic Wall Street greed.

Ever have your real estate diluted by 4? Or 5%? or 25? I didn't think so.

Only in America's financial markets can these scum get away with such dilutive actions and remain in the board room. Throwing back martini's with their investment bankers and elated with their "capital raise".

Will it ever end?

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