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Strategies & Market Trends : Value Investing

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From: Spekulatius	3/27/2014 11:07:16 PM
	Read Replies (1) of 78751

PFSI @15.9$. This is a mortgage servicer and originator, which just did a secondary due to a Charity selling out. There is a VIC writeup too: valueinvestorsclub.com It's quite cheap, based on P/B and to some extend earnings. I particularly like that this is an GP/LP setup, where PFSI is the more asset light GP and PMT the LP. Management is. Countrywide gang, which left in 2006. I acknowledge that this may scare some investors away (It did so for me) but after reading up more, I think those guys are not the one who caused the firm to blow up. I think there is some short term opportunity (reversal of the losses due yo secondary), as well as a LT opportunity of PFSI growing their servicing portfolio and dropping it down to PMT. I am in for some shares.

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