The Subprime money lenders have been battered in the stock market. One would assume rightly so. The analsys for Warren Buffett and the rest of the value folks have been packing their calculators the last week and heading off to the Subprime head offices around the country.
Tom has a web site devoted to the analysis of Banks . If he truly has such a big position and is so quickly in a world of pain, it is an interesting place to learn right now about the facets of ‘buying them when no one wants them’ and a good place to start if you want to wade into those waters.
I have been doing some work the last few days on Fremont Capital (FMT), but have not pulled the trigger.
if the subprime housing leads to alt-a and the full mortgage market and the fed cuts rates, gold will just do unbelievable
I believe its down to 7.30 in AH today.
“Fremont General Corporation to Exit Sub-Prime Residential Real Estate Lending”