BOFI Answers the Important Questions... Mostly

From TMF’s own Brian Stoffel (TMFCheesehead):

Key information comes out of the company’s conference call, but there are still some questions lingering.

I think that BofI did a lot to dispel doubt that there’s anything nefarious going on at the company. My own doubts were greatly reduced given the rebuttal Garrabrans offered regarding his personal accounts, and the statement provided as to why John Ball left the company.

Unfortunately, the opaqueness behind Garrabrants’ responses to questions about “ongoing investigations” will likely continue to dog the company and its stock – down 6% as of this writing – for some time.

One thing is for sure: this will be a very interesting stock to watch in the coming months.

http://www.fool.com/investing/general/2015/10/30/bofi-holdin…

Sincerely,
Charlie
Long BOFI

3 Likes

Their nefarious transcript edits aren’t doing them any good either… disappointed no one called them on that.

Reminds me of LL’s fine management.

Bob

This is a quote from the recent Stock Advisor note on the ill-fated Valeant (VTX), which has been plagued with doubt and short selling like BOFI…

We tread lightly in saying this, but deep fraud in a company can happen and be very difficult to expose. Either Warren Buffett or Charlie Munger said that if a CFO or CEO wants to defraud investors, they can for a long period … until they can’t. It might be that we got Valeant wrong in this regard

Might be same for BOFI.