Municipal Mortgage & Equity: Big Upside For Limited Downside
- MMAB is worth at least $2.00 a share.
- This value does not include several potential windfalls buried in the balance sheet.
- The biggest is a massive ($405.9 million) net operating loss carry forward.
- Other goodies include a tax credit and residual interest in managed funds.
- Management has executed brilliantly and is shareholder oriented.