It's summer, and children across the country are having the time of their lives at camp. Maybe it's art camp, perhaps it's religious camp, or something more athletic like soccer camp. I figured the good readers of the Bar-K Investors website might want to join me at math camp.
As we all know, there are too many people who have had to end their retirements and go back to work. Some have had to stop watering their lawns, or scrap the remodeling of their homes. Others had to swallow their pride and move in with family members. Even worse, some of us have skipped medical treatments or been unable to pay our medical bills. I have heard stories about some unfortunate noteholders losing their homes to foreclosure. It's far from uplifting.
We generally know how many people are part of the Ng coalition (Walter, Barney, Bruce, Kelly, etc), but how many people have been affected by the meltdown/dismantling of the funds directly or indirectly? There are roughly 2,000 RE Loans investors (rounding up for those nitpickers out there who have a tendency to be overly exacting). Let's start doing some math. If there are 2,000 REL investors, how many are married? Half? Okay, so that's another thousand people give or take. We're up to 3,000. How many have kids? Half? Great, let's be conservative here and say 1,000 people each have one child. That gives us 4,000. I know there are a lot of senior citizens invested, so there are some grandparents out there. Let's say 25% of those with kids are grandparents and that each grandparent has one grandchild. That's another 250 on the conservative side. So we're up to 4,250. Add in the Mortgage Fund '08 investors (anyone know the numbers? I'm not a MF'08-er) and the RE Reno investors (same here, help please!) and I'll estimate that we're looking at 7,500 PEOPLE directly or indirectly affected by this catastrophe. Multiply that number by 100,000, which could be the average investment into the Ng family of funds and you'll arrive at about 750,000,000, which is the supposed amount, in dollars, of the value of the RE Loans fund.
Feel free to offer your own fuzzy math below in the comments section. I welcome your input and your creativity as well as your stories. You've finally got a place to share, to vent, to scream, to rant, to rave and to generally raise holy hell.
That is, of course, what math camp is all about.