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Strategies & Market Trends : Calls and Puts for Income
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To: pcyhuang who wrote (1084)8/1/2007 11:08:47 AM
From: kaka  Read Replies (1) of 5891
 
Hi pcyhuang ,

re: now is the time, IMHO, to buy AHM @1 as a perpetual option.

I rather take the money and go play at Borgata in Atlantic City; at least I get free drinks there ;)

Some lines from latest news story:

-American Home Mortgage Investment Corp., the 10th-largest mortgage lender in the U.S., teetered on the brink of bankruptcy on Tuesday after saying it can't pay its creditors, potentially becoming the first big lender outside the subprime mortgage business to go bust.

-They will either file for bankruptcy or do some sort of material restructuring that will leave equity investors with very little," Bose George, an analyst at Keefe Bruyette & Woods, said in an interview. "It sounds like there's very little capital left."

-The company said it has paid "very significant" margin calls during the past three weeks, but has "substantial" unpaid margin calls still pending. It was unable to fund lending obligations of roughly $300 million on Monday and said it will likely not be able to meet another $450 million to $500 million of obligations on Tuesday.
American Home said it has hired Milestone Advisors and Lazard as advisers to help it consider strategic options such as "the orderly liquidation of its assets."
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