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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (25896)	2/1/2007 8:05:59 AM
From: blankmind	Read Replies (3) of 78627

Anyone care for mortgage reits? Here's my 2 picks: #1 - (IMH) Impac Mortgage - - stock has gotten absolutely clobbered - stock is at $8.62 - which is below book value - mngt announced they're going to buy back shares - pays a $.25/share qtrly dividend #2 - NEW - New Century Financial Corp - stock also clobbered - NEW announced in '06 that they'll do combo of $8/share in dividends & stock buyback in '07 but everyone thinks they're taking a bath in defaults - which we'll know for sure on 8 Feb '07 when they report - meantime - stock pays about $1.90/qtr dividend & at $30.27 - over the years - mortgage reits have fluctuated widely - if they don't go out of business - the survivors seem to do very well & throw off nice dividends

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