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Today I sold CCBI at 23.30. That’s 15% gain over my purchase price of 20.20. This was all accomplished in only 9 weeks. Can you do that? You? YOU? YOU???
I am HUGE!! Build me a temple. Mount a tuna on my wall. I am the king of all stock pickers. No one comes close to comparing? Why bother watch endomorphs on TV all day when $$$MR. MARKET$$$ makes them all his girlfriend?? How can I keep doing this?? That makes 48 consecutive profitable trades of 15% or better. Can you do that?? You? YOU? YOU??? 48! 48! 48! We used to have 48 states.
I am reknowned across the land. I pee farm fresh orange juice (with added calcium for strong bones). My poo is used as currency in Argentina. I want to drink a thousand beers and celebrate my great successes. I will eat steakey wakey barehanded and wipe my hands on the dog like a Viking. I made a CD album with nothing but the sounds of me drinking beer and lifting weights. It went triple platinum within the month.
Did I ever tell you about the time I went hunting? I decided to hunt down all four of the Banana Splits. I stalked and killed every one of them with a machete. They all begged for their lives... except Fleagle. I’m so HUGE that I went public with my own biceps and made $70 million. I have dandruff the size of mice. I jog with a fridge on my back. Gene Roddenbery got the idea for Star Trek from listening to me talk in my sleep.
What this all means is that there will be another $$$MR. MARKET$$$ pick forthcoming. Who is the greatest stockpicker of all time? Let’s hear it!
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Posted: 05 Nov 2003 02:41 pm Post subject: CCBI ==> The $$$MR. MARKET$$$ Election Day Winner!
My oh my oh my…with all of the Franklins that $$$MR. MARKET$$$ has been pulling down over the last 42 consecutive profitable trades of 15% or better, maybe it’s time to put them all in a safe place. Let’s see….should I invest it all on my college football plays this weekend? Naaaaaaaaaaa….it’s too easy making money in the stock market. Should I give my money to my friends? What? Those ungrateful turds? I think I need a good bank to hold all of my money.
The election results are in. Today I bought CCBI (Commercial Capital Bancorp) at 20.20. I will sell it in 4 to 6 weeks at 23.30. Here’s why I like CCBI:
Commercial Capital Bancorp, Inc., headquartered in Irvine, CA, is a multifaceted financial services company which provides financial services to meet the needs of its client base, which include income-property real estate investors, middle market commercial businesses, and high net-worth individuals, families and professionals. Maybe with all of these excellent trades, I’ll be considered high net-worth some day?
CCBI’s stock is up 276% this year and its PE is only 24. It has an r^2 correlation coefficient of 0.81 which indicates very solid sustained price momentum.
Commercial Capital Bank, the Company’s bank subsidiary, was the fastest growing banking organization in California, based on percentage growth in total assets over the 36 months ended March 31, 2003. Commercial Capital Mortgage, Inc., the Company’s mortgage banking subsidiary, was the 3rd largest Multi-family lender in California during the 12 months ended March 31st, 2003. I think “The Terminator” will also do things to stimulate the California economy, in the short run.
Analysts are typically positive on companies willing to
give back to its shareholders and CCBI is no exception. Several top
All Star analysts are recommending this California financial
institution to long-term investors. The 3 analysts covering CCBI have it rated between a strong buy and a buy. They project 2004 earnings to be $1.34/share. At today’s PE of 24 that would propel the stock price to 34 which is well past my sell target.
Look at 2003 revenue. It’s likely it will be up almost 60% over 2002 (from 46 million to 73 million). This is phenomenal growth and earnings are growing along nicely with it. The Company's net income for the nine-month period ended September 30, 2003 was $14.3 million, or $0.62 per diluted share, an increase of 120% and 38%, respectively, from $6.5 million and $0.45 per diluted share, for the nine-month period ended September 30, 2002.
CCBI's return on average equity ("ROAE") and return on average assets ("ROAA") for the third quarter of 2003 were 23.84% and 1.58%. Compare this to the peer median of 16.49% and 1.43% and you have two key stats indicating that this bank is a top performer. Things are looking good for the 4th quarter as well, according to the boss. Stephen H. Gordon, Chairman and Chief Executive Officer, stated, “We enter the fourth quarter with continued excellent asset quality, increased capital ratios, a record loan origination pipeline and anticipating significant growth beginning early in the fourth quarter." After the June quarter, he said, “We believe the benefits of the realignment will include sustainable financial improvements in future quarters as we strategically transition proceeds from sales of and cash flows received from front-loaded growth in lower yielding mortgage backed securities into the Company's higher yielding loan originations."
Here’s some other great things that are happening for CCBI:
• The Company's total loan originations increased 60% to a record $331.4 million from $207.1 million for the second quarter of 2003. The Company's core loan originations pipeline was a record $270 million at the end of the third quarter of 2003, compared to $182 million at the end of the second quarter of 2003. It is the Company's belief that its loan origination volumes are driven more by the continued maturation of its franchise and less a result of the interest rate environment.
• The Company's total deposits increased 7% to $566.4 million at September 30, 2003, from $529.6 million at June 30, 2003, and 73% from $328.1 million at September 30, 2002. Total deposits grew at an annualized growth rate of 28% during the third quarter of 2003.
• The Company's net income increased 15% to $5.4 million for the third quarter of 2003, from $4.7 million for the second quarter of 2003, and 104% from $2.6 million for the third quarter of 2002. Net income grew at an annualized growth rate of 58% during the third quarter of 2003.
• In September 2003, the Bank opened a banking office in La Jolla, California. The new banking office will serve the Company's existing concentration of franchise relationships in San Diego County, the third most populous county in California, behind Los Angeles and Orange counties. The Company has an established market presence in San Diego County, having already originated and funded over $215 million of multi-family and commercial real estate loans and gathered approximately $23 million in deposits at September 30, 2003. I hate to say it, but all of this wildfire damage will certainly increase the need for short term funding and loan origination in this region.
• The Company completed a three-for-two stock split on September 29, 2003. Companies that recently go public and split so quickly are usually extremely confident about their growth prospects.
As the Company continues to benefit from retaining a significantly increased percentage of its originations as loans held for investment, the ratio of noninterest income to total revenue continues to decline as a result of interest income becoming a significantly larger component of the Company's revenues and the decrease in revenue from the gain on sale of loans and securities. As a result, we are seeing a growth in “quality” or recurring earnings relative to the one off contributions to earnings.
The Company completed its comprehensive asset quality review during the third quarter of 2003 based on its enhanced asset classification process and used this current information to calculate the allowance for loan losses based on, among other qualitative and quantitative factors, updated industry and peer comparison data. This comprehensive review indicated that a provision for loan losses for the third quarter of 2003 was not required and that the allowance for loan losses is adequate to cover potential losses inherent in the loan portfolio. This makes me feel comfortable going into the next 6 months.
So far this year, I’ve had pretty good luck investing in these small California banks. You may recall VNBC and NARA which gave me annualized returns of 75% and 70%, respectively. I honestly think that CCBI, when compared to these banks, is growing its business much more favorably. Also, its stock price momentum is more solid and stable than that of VNBC and NARA when I bought them. All indications are that this will be a very good performing $$$MR. MARKET$$$ stock.
_________________
=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$
I am HUGE!! Build me a temple. Mount a tuna on my wall. I am the king of all stock pickers. No one comes close to comparing? Why bother watch endomorphs on TV all day when $$$MR. MARKET$$$ makes them all his girlfriend?? How can I keep doing this?? That makes 48 consecutive profitable trades of 15% or better. Can you do that?? You? YOU? YOU??? 48! 48! 48! We used to have 48 states.
I am reknowned across the land. I pee farm fresh orange juice (with added calcium for strong bones). My poo is used as currency in Argentina. I want to drink a thousand beers and celebrate my great successes. I will eat steakey wakey barehanded and wipe my hands on the dog like a Viking. I made a CD album with nothing but the sounds of me drinking beer and lifting weights. It went triple platinum within the month.
Did I ever tell you about the time I went hunting? I decided to hunt down all four of the Banana Splits. I stalked and killed every one of them with a machete. They all begged for their lives... except Fleagle. I’m so HUGE that I went public with my own biceps and made $70 million. I have dandruff the size of mice. I jog with a fridge on my back. Gene Roddenbery got the idea for Star Trek from listening to me talk in my sleep.
What this all means is that there will be another $$$MR. MARKET$$$ pick forthcoming. Who is the greatest stockpicker of all time? Let’s hear it!
================================================== ===========
Posted: 05 Nov 2003 02:41 pm Post subject: CCBI ==> The $$$MR. MARKET$$$ Election Day Winner!
My oh my oh my…with all of the Franklins that $$$MR. MARKET$$$ has been pulling down over the last 42 consecutive profitable trades of 15% or better, maybe it’s time to put them all in a safe place. Let’s see….should I invest it all on my college football plays this weekend? Naaaaaaaaaaa….it’s too easy making money in the stock market. Should I give my money to my friends? What? Those ungrateful turds? I think I need a good bank to hold all of my money.
The election results are in. Today I bought CCBI (Commercial Capital Bancorp) at 20.20. I will sell it in 4 to 6 weeks at 23.30. Here’s why I like CCBI:
Commercial Capital Bancorp, Inc., headquartered in Irvine, CA, is a multifaceted financial services company which provides financial services to meet the needs of its client base, which include income-property real estate investors, middle market commercial businesses, and high net-worth individuals, families and professionals. Maybe with all of these excellent trades, I’ll be considered high net-worth some day?
CCBI’s stock is up 276% this year and its PE is only 24. It has an r^2 correlation coefficient of 0.81 which indicates very solid sustained price momentum.
Commercial Capital Bank, the Company’s bank subsidiary, was the fastest growing banking organization in California, based on percentage growth in total assets over the 36 months ended March 31, 2003. Commercial Capital Mortgage, Inc., the Company’s mortgage banking subsidiary, was the 3rd largest Multi-family lender in California during the 12 months ended March 31st, 2003. I think “The Terminator” will also do things to stimulate the California economy, in the short run.
Analysts are typically positive on companies willing to
give back to its shareholders and CCBI is no exception. Several top
All Star analysts are recommending this California financial
institution to long-term investors. The 3 analysts covering CCBI have it rated between a strong buy and a buy. They project 2004 earnings to be $1.34/share. At today’s PE of 24 that would propel the stock price to 34 which is well past my sell target.
Look at 2003 revenue. It’s likely it will be up almost 60% over 2002 (from 46 million to 73 million). This is phenomenal growth and earnings are growing along nicely with it. The Company's net income for the nine-month period ended September 30, 2003 was $14.3 million, or $0.62 per diluted share, an increase of 120% and 38%, respectively, from $6.5 million and $0.45 per diluted share, for the nine-month period ended September 30, 2002.
CCBI's return on average equity ("ROAE") and return on average assets ("ROAA") for the third quarter of 2003 were 23.84% and 1.58%. Compare this to the peer median of 16.49% and 1.43% and you have two key stats indicating that this bank is a top performer. Things are looking good for the 4th quarter as well, according to the boss. Stephen H. Gordon, Chairman and Chief Executive Officer, stated, “We enter the fourth quarter with continued excellent asset quality, increased capital ratios, a record loan origination pipeline and anticipating significant growth beginning early in the fourth quarter." After the June quarter, he said, “We believe the benefits of the realignment will include sustainable financial improvements in future quarters as we strategically transition proceeds from sales of and cash flows received from front-loaded growth in lower yielding mortgage backed securities into the Company's higher yielding loan originations."
Here’s some other great things that are happening for CCBI:
• The Company's total loan originations increased 60% to a record $331.4 million from $207.1 million for the second quarter of 2003. The Company's core loan originations pipeline was a record $270 million at the end of the third quarter of 2003, compared to $182 million at the end of the second quarter of 2003. It is the Company's belief that its loan origination volumes are driven more by the continued maturation of its franchise and less a result of the interest rate environment.
• The Company's total deposits increased 7% to $566.4 million at September 30, 2003, from $529.6 million at June 30, 2003, and 73% from $328.1 million at September 30, 2002. Total deposits grew at an annualized growth rate of 28% during the third quarter of 2003.
• The Company's net income increased 15% to $5.4 million for the third quarter of 2003, from $4.7 million for the second quarter of 2003, and 104% from $2.6 million for the third quarter of 2002. Net income grew at an annualized growth rate of 58% during the third quarter of 2003.
• In September 2003, the Bank opened a banking office in La Jolla, California. The new banking office will serve the Company's existing concentration of franchise relationships in San Diego County, the third most populous county in California, behind Los Angeles and Orange counties. The Company has an established market presence in San Diego County, having already originated and funded over $215 million of multi-family and commercial real estate loans and gathered approximately $23 million in deposits at September 30, 2003. I hate to say it, but all of this wildfire damage will certainly increase the need for short term funding and loan origination in this region.
• The Company completed a three-for-two stock split on September 29, 2003. Companies that recently go public and split so quickly are usually extremely confident about their growth prospects.
As the Company continues to benefit from retaining a significantly increased percentage of its originations as loans held for investment, the ratio of noninterest income to total revenue continues to decline as a result of interest income becoming a significantly larger component of the Company's revenues and the decrease in revenue from the gain on sale of loans and securities. As a result, we are seeing a growth in “quality” or recurring earnings relative to the one off contributions to earnings.
The Company completed its comprehensive asset quality review during the third quarter of 2003 based on its enhanced asset classification process and used this current information to calculate the allowance for loan losses based on, among other qualitative and quantitative factors, updated industry and peer comparison data. This comprehensive review indicated that a provision for loan losses for the third quarter of 2003 was not required and that the allowance for loan losses is adequate to cover potential losses inherent in the loan portfolio. This makes me feel comfortable going into the next 6 months.
So far this year, I’ve had pretty good luck investing in these small California banks. You may recall VNBC and NARA which gave me annualized returns of 75% and 70%, respectively. I honestly think that CCBI, when compared to these banks, is growing its business much more favorably. Also, its stock price momentum is more solid and stable than that of VNBC and NARA when I bought them. All indications are that this will be a very good performing $$$MR. MARKET$$$ stock.
_________________
=============================
I am HUGE! Bring me your finest meats and cheeses.
- $$$MR. MARKET$$$
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