So all out of the blue, Lennar (LEN) becomes the fourth major American homebuilder in a week to announce that they are "shocked and floored" that their business is rapidly deteriorating. Give me friggin break, you lying bastards. If you are so "surprised" why have all you insdiers been selling your own stock like there's no tomorrow... for the past year!!!
Beazer (BZH), KB Homes (KBH), Hovnavian (HOV) and now Lennar (LEN)... all lying, cheating bastards. Don't you think they've been staring at the writing on the wall every day for a long long time. All the while suckering the poor bastard on the street to keep buying their crock of sh** and their fast becoming worthless stock. And what were those jerks on Wall Street doing, keeping on their "Buy" ratings. So the poor bastard on Main Street wouldn't bail out too soon, at least not until their big institutional clients made a clean getaway. This is why, when a used-car salesman tells you "this one's a beauty!" you don't believe it. This is why when a Wall Street analyst tells you "it's a Buy" when the CEO is selling his own shares... you don't believe it!
It's just common sense! It's just reason!
Come on folks... think for yourself!
I made gobs and gobs of money over the last twelve months shorting the bejesus out of these American homebuilders. Now I'm moving on...
They tell you it will be a soft landing in America. Don't you believe it! It will be a hardass landing as they come. And all those slimey bastards who've been pumping out all the fancy ARMs will finally get their comeuppance.
So don't you get caught believing that the Fed will manage a "soft landing". They won't. I for one am betting hard that all the lenders and bankers will get their head bashed in before this is all over. They always do. This time ain't gonna be no different!
