Tuesday, March 13, 2007

New Century Delisted from NYSE

The NYSE decided today that New Century Financial's securities "are no longer suitable for continued listing on the NYSE." Check out the article here.

For those of you fortunate enough to have seen this coming you may be wondering whether it is time to start covering your short positions on subprime lenders. Check out this article over at the Motley Fool for some guidance. The tax code on this issue is fairly interesting.

For those of you still long (this may include Tom Brown), I wish you the best of luck. With any investing panic there are always companies that are dragged down too much and there are sure to be some interesting buying opportunities over the next year. If anyone has an example of a company that may present a good buying opportunity be sure to let me know.

Posted by The La Jolla Guy at 10:04 AM

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