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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (2543)	8/8/2007 1:25:04 PM
From: Bill Wexler	Respond to of 6370

IHR ... I've been studying the hotel mgmt. biz and have been seriously considering buying IHR while the stock is in the low singfle digits. Without going into a great deal of detail - in the course of doing my due diligence I spoke to a contact inside the company. During our chit-chat, I went off on a tangent about the RE bubble and the corresponding hotel/condo craze. Asked for his opinion. Long story short: For the most part, REFR gamblers look like geniuses in comparison to the suckers...err..I mean buyers of these units, particularly in Florida. "A flim-flam...a tragedy" - and I quote. As far as IHR is concerned. I'm sufficiently impressed to start a new position. The last quarter was feh, but these guys are smart, long term thinkers.

To: RockyBalboa who wrote (2543)	8/9/2007 5:39:12 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

CMO Capstead mortgage, a heavily leveraged operation. It is a little further back in the food chain, essentially a fund playing the yield curve and benefitting from higher ARM rates but claiming to have no credit risk as it holds only the best (AAA) tranches and no whole loans. I am still reading a little bit, meaning that at this time, I don't say something has to be done with the stock immediately. It has to pay the dividends towards the end of august. We will soon see whether they have the necessary liquidity to pay.