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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: RockyBalboa who wrote (4062)10/12/1998 9:10:00 PM
From: Kip518  Read Replies (1) of 18998
 
C, the repackaged mortgage cycle is apparently breaking down. Too much paper cut loose by liquidation of hedge funds, too much risk, too much supply & few buyers. Future risk of refinancing from interest rates cuts and/or default from soft economy & collapse of hedge fund buyers is killing this business. It will get only worse as many non-failing hedge funds are liquidated at year's end. Sure it will hurt mortgage companies' stock. Already has, bigtime (e.g FP, NDE)
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