Paper Doll :(

Thornburg's a Huge Bargain After Monday's Crash

User 162452:
Thanks so much for sharing your "encouraging email to mortgage brokers". Is there a source other than an email where we might affirm your message.

I had to be away from my computer today, and I was unable to tune into the financial news. Did they halt trading of TMA AGAIN today?

Thornburg's a Huge Bargain After Monday's Crash

Well, it's 8:40 CTS. That means the opening bell has just rung. GOOD LUCK EVERYONE! HANG ON TO WHATEVER YOU THINK THE MOST OF :)

Thornburg's a Huge Bargain After Monday's Crash

Tha's really sad :(

Thornburg's a Huge Bargain After Monday's Crash

gfather:
Your post is thought provoking. You commented that TMA has been a poor steward of the capital they had. In hindsight, I have wondered about this very thing. Could you expound on how TMA managers might have been better stewards of their capital? Would really like to hear your take on this, kindly please.

Thornburg's a Huge Bargain After Monday's Crash

IMO, the earning power of Thornburg has not changed, rather it has diminished due to elements outside the company's command. Would you agree?

Thornburg's a Huge Bargain After Monday's Crash

Please allow me to add one more thing to my last question: Why not base your valuation on the environment of last summer, before the present instabilities surfaced? I continue to view Thornburg as an innocent victim of the “credit crunch“; therefore, why wouldn't one place significantly more credence on the quality of the company, and in that view, factor it into their valuation?

Thornburg's a Huge Bargain After Monday's Crash

If I understand correctly, we are painting a hypothetical scenario where a company or individual, with the willingness and necessary capital, buys the company today with the intention of, henceforth, operating the company in a profitable manner.
If this is a correct assumption, then I guess my question is really this:
How does one decide, as well as justify, a baseline for determining the fair market value of a company like Thornburg Mortgage given the extreme circumstances? What baseline would be the most appropriate to use? Would you choose to base your valuation of the company on its past, present OR anticipated performance/earnings? Why not base your valuation on the environment of last summer, before the present instabilities surfaced?

Thornburg's a Huge Bargain After Monday's Crash

How many posters would like to see someone takeover/buy Thornburg?

Thornburg's a Huge Bargain After Monday's Crash

How can you gauge the fair value of a company like Thornburg given the current setting?

Thornburg's a Huge Bargain After Monday's Crash

Alas, this discussion is really starting to get interesting. I'm intrigued.

Thornburg's a Huge Bargain After Monday's Crash

Presently, my "going concern" is whether Mr. Goldstone can keep going. This is bound to wear one down after awhile. Every time I fear that they are history, they manage to pull another rabbit out of the hat. I pity them for the mounting struggles they face, yet on the other hand, one can not help but admire their perseverance! I must admit, under different circumstances, I might actually enjoy this financial fiasco… similarly to the way one might enjoy a great basketball, baseball or football game. But then, I have always been one to pull for the underdog. I am keeping the faith that they will prevail, but honestly, it is most unsettling!

Thornburg's a Huge Bargain After Monday's Crash

Ex 15:26 wrote:
Anyone have access to any stats that show the number of houses in the US that have zero or less equity in their homes? That number would be a good indication of future defaults as people realize that it might be easier to simply walk away rather than have integrity and take their lumps.

There is one paragraph in the article just released titled, "Stocks Drop Amid Credit Concerns", that relates to your question, but still no definitive stats mentioned:

"The Federal Reserve added more unwelcome housing news in reporting that Americans' debt on their homes exceeds their equity for the first time since the central bank began tracking the figures in 1945. Homeowners' percentage of equity fell to 47.9 percent in the fourth quarter."

Thornburg's a Huge Bargain After Monday's Crash

Mr. Yetiv:
Thanks for initiating this particular blog :) Thus far, it has been enlightening and rather akin to a life line for those of us who yearn for a true sense of the pulse of our fellow investors, especially since many of us seem to be in the same boat.

I for one tend to become aggravated by the mainstream of continued flow of financial press releases/analysis, and find that one must read, and re-read them with great care. In summary, an acute observer might find that a major portion of those releases disclose a disproportionate amount of fact supported by only limited data overshadowed by projection and sensationalism. In other words, the media appears to be engaged in a feeding frenzy, further fueling the anxieties of investors already subject to the woes of the credit crunch/mortgage market crisis.

I commend you for your audacity, and I sincerely appreciate your perspective, sir.

Thornburg's a Huge Bargain After Monday's Crash

IMO, this has been a rude awakening for a lot of folks regardless of whether one is a professional investor OR a small investor. For example, Ben Bernanke was quoted in, an article published on MotleyFool.com:

"You know it's a doozy when ...
However, with so much turmoil in credit markets these days, reliance on mark-to-market accounting has caused some to question whether new accounting standards should be implemented to assist companies like Thornburg, which thinks it's being unjustifiably victimized by an irrational market.
That's a question even the brightest of the bright seem to be perplexed by. When asked about an alternative to mark-to-market accounting, Fed Chairman Ben Bernanke himself stated, "I don't know how to fix it ... I don't know what to do about it."
(Note to self: When the chairman of the Fed admits defeat and acknowledges he doesn't know what to do, it may be time to stock up on canned food and resume practicing ducking under school desks.)"

Thornburg's a Huge Bargain After Monday's Crash

Yes, these are dark times indeed for such a stellar company. I have enjoyed this particular blog. Sounds as if everyone has dissected and analyzed and re-examined the business practices of Thornburg in an effort to better understand what is really going on inside the company. Oh, if only one could be a fly on the wall...