alkhor wrote: I believe PMT has 13MM shares of TOU, meaning a cash input of $26MM to PMT. This is actually quite big, representing a $0.40 a share. Not showing it in tadays trading.

I suggest you do some research before posting incorrect information. A review of PMT financials indicates that PMT owns zero shares of TOU. The market value of 13 MM shares of TOU is over a billion dollars - consequently I consider your statement to be somewhat misleading.