Redwood Trust, Inc. (NYSE:RWT)
CAPS Rating:
A financial institution focused on investing in, financing, and managing residential and commercial real estate loans and securities.
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A financial institution focused on investing in, financing, and managing residential and commercial real estate loans and securities.
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This company has done well even with the housing downturn. Will see if that continues; remodels/home equity helps now. When housing rebounds RWT should do even better. Div and P/E help provide safety.
I own a value fund, the manager of which I really admire: WVALX. (Wally Weitz). He is more enthusiastic about RWT than any time in recent memory. He trusts their management so much that he originally provided capital to them in, I believe, 1995. If you are in shark infested waters--as some would describe the sub-prime mortgage market right now--you will want to have a disciplined, experienced management team working for you; the company will know their market so well that they will know when to put money at risk, or not. I believe RWT has those skills and discipline. tuckman52