Sub Prime Market is burying the bottom Fishers

The stocks of sub prime lenders continue to be decimated, all down 20-30 percent after hours Friday on investigations, restatments and plain fear.

Check out NEW, FMT and NFI if you want to see what ’round trip’ means for stocks.

Many ‘smart’ people are buying, which I posted a couple days ago . Thank goodness on these I was not smart enough.

Huge money will be made by investors on the long side once the dust settles and I am just going to watch from the sidelines. My friend Jim Kingsland has been betting on the implosion and nailing it.