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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: a128 who wrote (27213)	7/4/2007 2:28:59 AM
From: Paul Senior	Respond to of 78747

CBF. Yes, with this one, having self-doubts is a condition of going into, and staying in, the stock, imo. :>) I mean even skipping over the sub-prime issues elsewhere and media reports of possible spreading loan defaults (now perhaps to some mezzanine loans I've read), what normal outside investor/analyst can even understand what this company actually does let alone the risks with its various operations? "The company's investment portfolio comprises investments in various asset classes, including whole loans; subordinated interests in first mortgage real estate loans; mezzanine loans related to commercial real estate; commercial mortgage-backed securities; and joint venture investments, including joint venture interests in entities that own real estate, preferred equity, and other structured debt and equity products. It also invests in various commercial real estate assets that include acquisitions of real property, net leased property, distressed and stressed debt securities, RMBS, and CDOs, as well as equity and debt issued by REITs or other real estate companies. " Cree--ripes! And it's a newly trading company, so I don't see a lot of history with it. It certainly is not a warm and comforting business or stock to me! I'm in because we can buy at prices comparable to what insiders have recently bought at. One of those insider directors, as I said previously, I believe is the same Douglas C. Eby who co-manages the ltb&h Torray fund. And there are (according to Yahoo) several value players who have positions (Baron, Weitz, Dreman, etc.)--- one or more of whom I am hoping HAS been able to study and understand this company, and glean enough to make a proper value judgement. Evidenced by the establishing of a position in the stock. Meanwhile, those like me who are tagging along, wait for some positive news while we collect our 6.8% current div. yield. Still, it is a situation where FUD (fear, uncertainty, doubt) can easily override patience. Jmo.