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“(NEW) New Century Financial Corp seen filing bankruptcy.” What did I do wrong? March 9, 2007

Posted by deminvest in My investing mistakes, NEW New Century Financial Corp, stock I own, stocks, stocks that pay high dividends.
5 comments

Here is the source.

Now I wonder: “What did I do wrong when I picked this stock? Where there hints to forecast this disaster?”

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I definitely can TAG this post among “My investing mistakes”.

Even if I burned $1700 on NEW, it makes me laugh to read my April 3 2006 enthusiastic buyer’s post specially where I write:

“right now I tell I feel like someone who made a big bargain!”

or my April 20 Comment:

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What the heck is New Century Financial Corp ? Why does it give juicy dividend yield of 15% ? Why does it have a P/E 6? April 3, 2006

Posted by deminvest in Dogs of the Dow, investment, My investing mistakes, NEW New Century Financial Corp, Single stocks, stock I own, stocks, stocks that pay high dividends.
6 comments

This is what I am going to try and find out… By reading on news.google.com I find out that:

New Century Financial Rose To Over A 7-Month High Trading Markets – 23 Mar 2006

And also that:New Century Financial CEO got $1.07M bonus for 2005 MarketWatch – 22 Mar 2006

It seems all right. Then reading around I find that the mortgage business is being beaten down. Is it? Then why are dividend yield forecasts so juicy? Why are earning so high that they result into a P/E ratio of 6?

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