Seeking Alpha

There are still no audited statements, but Chimera Investment (CIM) has a fan in Leon Cooperman....

There are still no audited statements, but Chimera Investment (CIM) has a fan in Leon Cooperman. His Omega Advisors took what was previously a nominal position up to a $57.5M stake in Q4 (13F). A new holding for Cooperman is a $106M stake in Freeport-McMoran (FCX) taken amidst the Plains Exploration acquisition.
From other sites
Comments (5)
  • minwyhe
    , contributor
    Comments (103) | Send Message
     
    How much did Freeport-McMoran pay Cooperman to make this investment or was it an investment or a gift?
    13 Feb 2013, 02:35 PM Reply Like
  • wil3714
    , contributor
    Comments (2097) | Send Message
     
    guilty
    13 Feb 2013, 06:20 PM Reply Like
  • joemarko
    , contributor
    Comments (26) | Send Message
     
    hopefully, it might improve cim share price, been losing ever since i bought it. hey, i can dream, right?
    14 Feb 2013, 03:47 AM Reply Like
  • oscar16509
    , contributor
    Comments (21) | Send Message
     
    Good for a long position..The dividend is decent.
    14 Feb 2013, 08:41 PM Reply Like
  • GlowWorm
    , contributor
    Comments (25) | Send Message
     
    I don't think CIM is good for a long position any more...
    I was long CIM until today...why did I sell?

     

    Still not able to produce figures over 2011, and back to 2008!
    They changed accountancy firms last year, probably because of a conflict in vision on the CIM figures/bookkeeping.
    The last few dividend payments consisted in part of "return of capital" instead of distribution of profit (CIM statement)

     

    My conclusion at this moment:

     

    This is a gamble with an upside of $0.30 (difference between price and claimed book value), and a downside of $3.00 if the are delisted within one month!

     

    My advice:

     

    Buy American Capital Agency Corp. (AGNC) instead, which is transparent, has great management and yields 15.4% today.

     

    Greetings from Holland,
    Arie@GlowWorm.nl
    15 Feb 2013, 06:35 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs