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Hipwaders Necessary for Ara Hovnanian

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January 11, 2008 – Comments (5)

I used to think this guy was a straight shooter. He's on my liar list now. Look at this crock o' crispy:

The deal is "good for the housing sector," Hovnanian CEO Ara Hovnanian commented to CNBC. Saying that housing was going to come back, Hovnanian said he thought BofA was buying the company at the market bottom.

Maybe Ara's too busy to take a look at the reality for the Fed Funds rate as it relates to mortgage rates and home prices. Luckily for Ara, we've got some handy charts in this blog that will explain it all for him.

Sj

5 Comments – Post Your Own

#1) On January 11, 2008 at 12:44 PM, abitare (49.90) wrote:

abitarecatania Guru formula:

1. CEO on CNBC = Underperform

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#2) On January 11, 2008 at 2:15 PM, zygnoda (26.74) wrote:

great formula!

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#3) On January 11, 2008 at 4:26 PM, floridabuilder2 (99.35) wrote:

didn't Ara say the deal of the century back in sept 2007 was the market bottom?  the thing I like about bottoms is there is always another one the next day and the day after

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#4) On January 11, 2008 at 4:50 PM, TMFBent (99.83) wrote:

LOL, Flabuilder. That sounds like a Spinal Tap lyric.

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#5) On January 12, 2008 at 10:32 AM, saunafool (98.96) wrote:

Talk about mudflaps...

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