esteedman

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    • Tue Mar 4th 10:17 AM | Rating: 0 0
      Commented on:
      What Should Thornburg Mortgage Shareholders Do?
      Mar 04 09:07 AM

      Buying on this dip? I keep thinking that maybe THE HERD is really correct and the uncertainties in the corresponding securitized debt markets is just too unpredictable at the moment to play, but then again, perhaps what happened yesterday is just one of those things that happens when there is volatility, panic, and confusion.

      BUT, after TMA FINANCED (NOT SOLD) that $1B yesterday in record time, I’m convinced that they will survive and ultimately prosper. If one must pick financial investments in this market, the only truly valuable capital is management, which in this case is extraordinary. We’re investing a lot on the fundamentals of the TMA business model and the strengths of the straight shooter CEO, Larry Goldstone, and his observably superior team to successfully navigate through this perplexing mess.

      These guys aren’t likely to bankrupt and there is clearly BIG money betting on that (Bill Miller @ Legg Mason is historically a genius stock picker and he obviously likes the play.) A quality firm with very high performing AAA mortgage assets, if not the best, will persevere through the dysfunctional aspects this convoluted market presents.

      If a Thornburg with its GREAT & PERFORMING PORTFOLIO can’t make it, who can or will?

      Ed Steedman
      Swift Island Capital Partners
      View article »
    • Tue Mar 4th 09:07 AM | Rating: 0 0
      Commented on:
      Thornburg's a Huge Bargain After Monday's Crash
      We strongly agree with this article…

      Buying on this dip? I keep thinking that maybe THE HERD is really correct and the uncertainties in the corresponding securitized debt markets is just too unpredictable at the moment to play, but then again, perhaps what happened yesterday is just one of those things that happens when there is volatility, panic, and confusion.

      BUT, after TMA FINANCED (NOT SOLD) that $1B yesterday in record time, I’m convinced that they will survive and ultimately prosper. If one must pick financial investments in this market, the only truly valuable capital is management, which in this case is extraordinary. We’re investing a lot on the fundamentals of the TMA business model and the strengths of the straight shooter CEO, Larry Goldstone, and his observably superior team to successfully navigate through this perplexing mess.

      These guys aren’t likely to bankrupt and there is clearly BIG money betting on that (Bill Miller @ Legg Mason is historically a genius stock picker and he obviously likes the play.) A quality firm with very high performing AAA mortgage assets, if not the best, will persevere through the dysfunctional aspects this convoluted market presents.

      If a Thornburg with its GREAT & PERFORMING PORTFOLIO can’t make it, who can or will?

      Ed Steedman
      Swift Island Capital Partners


      View article »
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