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Anthracite Capital, Inc. Message Board

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  • bond_dadddy bond_dadddy Sep 13, 2002 2:41 PM Flag

    does anybody have a opinion on HCM?

    can't say much other than I'd buy IMH , FB , AHR , or ANH all day long over that one ......

    its ultra small and its portfolio is mostly junk grade subordinate bonds off residential deals ..............and residential real estate defaults are up to multi-year highs ....

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    • thanks,BD.I have a friend whose been watching this one.I mentioned flying past you before he jumped in.

    • Indeed. HCM is a risky holding IMO, and I hold a small portion of it in my portfolio.

      They yield is very consistent, but methinks that the caliber of trade that HCM caters to is going to be the first to default... and as the foreclosures/bks/defaults inevitably rise in this "spiraling economy," HCM will be the first to drop.

      However, I am holding long and forsee a strong 3rd and 4th quarters as their online biz for swapping mortgages has really taken a stronghold and set a precedent for doing biz in the future.