Thornburg Mortgage Larry Goldstone video
Larry Goldstone, COO of Thornburg Mortgage gives some straight forward answers on this CNBC video.
I have written at length about Thornburg Mortgage over the last couple of weeks. At this point I am undecided whether they can return to pre-meltdown profitability.
Note: for me the CNBC videos work better on IE rather that Firefox.
Watch list addition: GLD
As part of my on going effort to give this site some meaningful investment information, I have set up a page called Watch List. This is to be a list of securities, primarily ETFs, that can be observed to see market trends in specific industries or sectors.
Yesterday I added the company Silver Wheaton to the 20 Stock Portfolio, so I thought StreetTRACKS Gold Shares (GLD: 92.06 -1.11 -1.19%) would be an appropriate ETF to track results in the precious metals sector. The 3 and 6 month charts do not show a definite trend, but their definitely have been some good opportunities to buy in.
Stock Review: Silver Wheaton
Silver Wheaton Corp (SLW: 14.30 -0.57 -3.83%) is a pure play on silver mining with a unique business structure. The company has contracts with 5 different mines to purchase their silver production at a fixed contract price. These mines are in Mexico, Peru, Greece and Sweden are primarily mining another metal and silver is a by product of the mines primary operation.
Silver Wheaton has purchased the silver rights to these mines for upfront cash purchases, then have the right to buy silver at $3.90 per oz. The company has almost no overhead with 1/2 dozen employees and a structure to pay little or no taxes. All contracts are is U.S.$.
The company expects to sell Read more
20 Stock Portfolio
I am always on the watch for stocks to invest in and write about. My passion for the writing side is growing and I am definitely interested in making more money. I have decided to set up a model portfolio of stocks I review. This will give you readers an opportunity to see if I have any validity in my analysis and allow me to track what I have written about.
First, some background on the criteria I use to pick companies I think will be good investments. Number one Read more
Capital One shutting down prime/non-conforming mortgage unit
Another major player dropping out of the non-conforming mortgage market. I have been amazed how rapidly these companies have decided no one will buy homes ever again, especially with a mortgage greater than $417k.
Capital One shares fall 5% in late trading - MarketWatch
Thornburg Mortgage Update
Over the last couple of weeks I have written my thoughts on Thornburg Mortgage several times. Thornburg TMA is a mortgage REIT that originates and invests in high quality adjustable rate mortgages. With the sub-prime mortgage and credit markets in general virtually imploding over the last several weeks Thornburg became the object of analysts’ downgrades and heavy selling pressure. The stock price fell from around $26 to as low as $7.50 early last week, before rebounding to about $15 on Friday.
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