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Strategies & Market Trends : Contrarian Investing

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From: pcyhuang	8/3/2007 2:36:16 AM
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Confronting with AHM's Latest Development The New York Times reports; American Home Mortgage said that that it would lay off all but 750 of its 7,000 employees “in light of liquidity issues resulting from disruptions” in the secondary mortgage market...The company said it was shutting down all but its thrift and servicing businesses “to preserve the value of its remaining assets.” At $.72 per share, the entire AHM is being valued at $39 million. Now the question: What is the remaining asset worth? Among major institutional holders, the Goldman Sachs Group Inc. owns 4.1 million shares as of March 31 and Michael Strauss, AHM's CEO has a personal stake of 4.5 million shares, as of 11/08/2005. As in investor, you have to ask yourself: Are you willing to ride with these large stake holders? I am. pcyhuang

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