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$0.33 0.04 (13.79%)
7/23/2008 3:59 PM

Thornburg Mortgage, Inc. (TMA)

CAPS Rating:
*

The Company is a single-family residential mortgage lender that originates, acquires and retains investments in ARM Assets, thereby providing capital to the single-family residential housing market.

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Avatar FleaBagger (99.36) Submitted: 5/07/08 1:41 PM : Underperform Start Price: $2.20 TMA Score: 80.75

I was reading some of the bull pitches for Thornburg, and it sounded like they were a great company with a great business model, and they got hammered because the actions of others in their industry created a toxic environment. In other words, even though they are headed for bankruptcy, it was through no fault of their own, and many intelligent people thought they were still a good investment a few months ago.
I guess you guys know how I felt about Marblehead.

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Avatar garyb52 (86.73) Submitted: 6/19/08 3:16 PM

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Not even two years ago, Kiplinger's was talking this up big time. I remember reading a story about this guy who had retired on his earnings from Thornburg and Allied Capital.
I wonder if the guy is back to working now! At least he had some Oil and Gas trusts, which have done very well.

But seriously, how did this company fall so hard and so fast? I didn't think they had any subprime exposure. This doesn't bode well for some other companies or for the banks.

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