Yeah Baby!!!!Bought some at close on Friday! But only beginning. I mean analyst were looking for $1.92 before writedowns for Q3. CM comes-out that Q3 looking like $2.30 AFTER writedowns of $290 mm.
C'mon!!!!! How could it be any better.
And their $1.7 billion portfolio were AAA paper. You need 100% default and selling homes at 20 cents on the dollar for CM to be wiped-out. You probably need 30% default before they actually lose any money at all.
GO CM!!!!!