Institutional Financial Markets, Inc. (AMEX:IFMI)
CAPS Rating:
A specialty finance company formed to invest primarily in certain target asset classes.
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A specialty finance company formed to invest primarily in certain target asset classes.
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Alesco is a financial disaster and we may just be seeing the tip of that iceberg here. AFN was forced to absorb over 500 million in writedowns last quarter and yet they defiantly have decided to pay out their regular quarterly dividend. They have a huge negative book valuation of $20 per share, a massive debt load of over 11 billion dollars and a measly 91M left in cash. Business is very weak and their mortgage backed assets are declining by the day. There is no way this company can maintain their hefty dividend, and trust me, that 12% yearly dividend is the only thing keeping investors in this stock. I highly doubt they will survive under their current structure.
Nero
Sagetrade