Anyone following Capstead (CMO)?? Message Board

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Strategies & Market Trends : Anyone following Capstead (CMO)??

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To: James F. Hopkins who wrote (117)	9/25/1998 2:31:00 PM
From: Wallace Rivers	Read Replies (2) of 216

Jim, we have talked to a representative of CMO on that very subject. The gist of the discussion was that no buyback was planned, and unlikely. I would much rather see the stock going up due to market forces, anyway. Mr. G cutting would be a big benefit for us. The bond purchase (the purchase resulting from the "incident") is doing great. Prepay speeds will further hurt (impair) the servicing portfolio; I don't know how much the new origination business (I forgot what the name of it is) will offset that. It seems folks are waking up to what a rate cut would mean for CMO. The lawyers drove the stock price down further, hurting the very ones they "represent"!

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