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Strategies & Market Trends : Value Investing
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To: RWS who wrote (31455)7/11/2008 4:37:49 PM
From: E_K_S  Read Replies (1) of 78717
 
Hi RWS - I own RAS but it is different than BDN or HRP as they have more exposure to many of these CDOs and other debt obligation derivatives. To me it is more risky but according to the companies most recent disclosure, the stock is selling below it's tangible book value. Their BV is calculated a few different ways so it's hard to tell exactly what the "true" mark-to-market value is.

If the company has to write down another big chunk of their CDOs then the current discount is not really attractive.

Just be careful to understand the overall risk of their portfolio and make any buys accordingly.

EKS
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