On today’s STOP TRADING segment on CNBC, Jim Cramer noted how recent news out of the mortgage environment is a help but not necessarily an all-clear sign. He still thinks rate cuts would help, even though some Fed officials are dead wrong because they’d like to actually hike rates. Here was his winning pick in mortgages:
The winner is Annaly Capital (NYSE:NLY) because they just started a company to capitalize off of the mortgage woes last week. We covered this one ourselves last week as we covered Chimera as being the FIRST VULTURE FUND filing out there to take advantage of the disparity and weakness in the mortgage markets to buy assets.
We noted how the Chimera in mythology is a creature made of multiple creatures. "And it’s a mean one." But all jokes aside, we’d expect this Chimera IPO to be one of the fastest IPO’s to make it to market.
Jon C. Ogg
August 23, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.