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.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
