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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (93890)	11/6/2007 8:11:56 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

Thornburg is an interesting company, and one of only three stocks I am long. I am long due to the quality of the management. They only do non-conforming loans, and all of their loans would be instantly insurable by the GSE's if congress raises the limits for what the GSE's can deal with. In other words, they have ZERO subprime or ALT-A loan exposure, and may well be the only mortgage originator out there that can say that. They got hit because the credit markets froze for all loans. I have been impressed by management's quick and honest response (unlike the pathetic liars at the Wall Street firms), and continue to happily pick up shares on weakness. ALL of the mortgage originators got hit hard but Thornburg was one of the first to admit it, be honest about it's magnitude, and take action. It wouldn't surprise me if Warren Buffet likes this company at current prices.