More from Tepper: Appaloosa raises its stake in Chimera Investment (CIM) by 160% to about $27M....

|About: Chimera Investment Corpo... (CIM)|By:, SA News Editor

More from Tepper: Appaloosa raises its stake in Chimera Investment (CIM) by 160% to about $27M. The mortgage REIT (managed and partly owned by Annaly) fired its auditor last year and hasn't provided financials since. The shares closed at $2.56 today, and some speculate book value could be in the 3s. With Annaly on the lookout for alternative investments (see CreXus offer), there's also speculation Chimera could get a bid from its parent at a premium to book.