Using Veritas to Construct the "Per…

29-04-2017 Hits:82075 BoomBustBlog Reggie Middleton

Using Veritas to Construct the "Perfect" Digital Investment Portfolio" & How to Value "Hard to Value" tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many...

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The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:77714 BoomBustBlog Reggie Middleton

The Veritas 2017 Token Offering Summary Available For Download and Sharing

The Veritas Offering Summary is now available for download, which packs all the information about Veritas in a single page. A step by step guide to purchasing Veritas can be downloaded here.

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What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:77284 BoomBustBlog Reggie Middleton

What Happens When the Fund Fee Fight Hits the Blockchain

A hedge fund recently made news by securitizing its LP units as Ethereum-based tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that...

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Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:82030 BoomBustBlog Reggie Middleton

Veritaseum: The ICO That's Ushering in the Era of P2P Capital Markets

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu...

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This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:78621 BoomBustBlog Reggie Middleton

This Is Ground Zero for the 2017 Veritas Offering. Are You Ready to Get Your Key to the P2P Capital Markets?

This is the link to the Veritas Crowdsale landing page. Here is where you will be able to buy the Veritas ICO when it is launched in mid-April. Below, please...

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What is the Value Proposition For Verita…

01-04-2017 Hits:80917 BoomBustBlog Reggie Middleton

What is the Value Proposition For Veritas, Veritaseum's Software Token?

 A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim: I've watched your video and gone through the slides. The exchange...

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This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:47800 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:79622 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:79149 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:79699 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:84665 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:81621 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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Lennar has been in the news as of late, with the Street.com running a piece on joint ventures, and the Chicago Business News (hat tip to Michael for pointing this out) doing a piece on Lennar recieving a foreclosure filing. The followers on my blog were alerted to the dangers of the JVs, Lennar' in particular. several times over the last few months. The new media rags are late to the party. We performed a very, very extensive analysis of Lennar's off balance sheet holdings and liabilities, much of which is easily missed by just studying the 10Qs, in Voodoo, Zombies, Lennar�s Off Balance Sheet Accounting and Other Things of Mystery & Myth (a must read, IMO, for anyone who follows this space - Enron redux). I plan to follow up on Lennar's 50% haircut does not make them look any better and Lennar gets a haircut, a shave, and a mustache trim with a fully fleshed out calcuation of their position, which I have had on my desk for weeks, but unfortunately have not had a chance to post. I will dedicate today to putting out content, so stay tuned.

From the Street.com: "Of course, not everything is in the financials.

On the basis of conversations with several industry sources familiar with some of the ventures, it appears that there are several issues set to unfold at the company.

A good portion of the JVs -- mostly the ones in better locations -- have 10% to 20% equity from Lennar. But some of the ventures are 50/50 partnerships with weaker secondary players, says a former Lennar employee.

"Some partners had no money at all but had a piece of family land," the person says.

Such deals were in tertiary markets where landowners had land with a low cost basis but had no capital to build out the project and make money. That's where Lennar would step in, by agreeing to pay much of the development cost.

In some of these deals in secondary markets, banks are now likely becoming uncomfortable with the value of the underlying collateral. "Banks are going to start calling guarantees," the person says. "

And the local piece from the Chicago Business News: "RBC Centura Bank filed suit late last month against Lennar Corp. to collect $14.7 million on a construction loan for Creekside Crossing. The 278-acre, 615-home development on former cropland has sold poorly amid the worst suburban residential market in at least 15 years...

Plainfield was growing rapidly until the residential market hit the skids about two years ago. The village will issue 431 building permits for single-family houses and townhouses this year, down 57% from 2006, Mr. Hovany estimates...

Sitting next to cornfields stretching to the western horizon, the development at Renwick and Drauden roads is now a desolate place. Fewer than 100 duplexes and single-family homes have been completed or are under construction, and its roads meander mostly through empty lots.

In June 2004, RBC Centura agreed to lend $26 million to a Lennar-led venture to finance the project. Lennar improved the land, adding roads and sewer and water lines, planning to sell off most of the lots to other homebuilders.

The loan, which was modified four times, doesn't mature until February. But the venture defaulted by failing to sell lots according to an agreed-upon schedule and failing to maintain letters of credit, according to the complaint filed in Will County Circuit Court."