SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Laser Mortgage (LMM)
 Public ReplyPrvt ReplyMark as Last ReadFileNext 10PreviousNext  
To: Labrador who wrote ()8/13/1998 8:05:00 PM
From: Labrador  Read Replies (2) of 24
 
I am quite pleased with the earnings announcement of Laser of Aug. 13th

Positives
1. Continued earnings from operations of 35 cents for the quarter.
2. Book value of $12.10, which means shares trading at a significant discount (69% of book) - This should put the stock on a positive trend in the near term.
3. Continuous positive spread.
4. Conservative valuation of IOs, resulting in a writedown to fair value. This writedown assumed concerns about the threat of faster prepayment rates.
5. Independent auditor signoff -- the auditors obviously were conservative since they are on the line here. This is a big big plus.
6. Share repurchases continue in the current quarter, which obviously will improve book value and should be accretive to earnings. Another 900,000 shares purchased to date in the third quarter (at under $10 per share.)
7. The majority of the company's assets are publicly traded securities that are virtual cash equivalents.
8. Lehman Bros. hired to review strategic alternatives.

Negatives
1. Concerns about management and the direction of the Company.
2. More information needed on the valuation methodology of the IOs to alleviate investor uncertainty.

I expect to see a near term rise in the stock price approaching 90% of book value -- my target is now about $10.50.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFileNext 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News