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Anthracite Capital, Inc. Message Board

  • talbert744@sbcglobal.net talbert744 Feb 25, 2008 9:03 AM Flag

    how low ????

    i would like to buy some stock in this company. i feel on a severe downturn as we saw last august, it could drop to 3.62. i will place a limit order at 4.73 can i have some other opinions, am i placing the bar to low ?????

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    • Are you looking to trade the stock? If you are look at the spread from where we are at to the top of each swing. The stock seems to reach 8.25+ at least once every thirty days. If your looking for an investment stock that is offering a yield of 18.8% with a trailing P/E of 4.4. Then any place around here is a buy. with numbers like these do you think that the price your looking for is going to be available? If a panic provided a big slip from here how long do you think it will last before returning to a number higher than it currently resides?

      No one that I know or have heard is good at picking the bottom. It is really easy to pick the top (of a short term swing). So the question really is what price are you comfortable owning the shares?

      • 1 Reply to Nerd86
      • You only have a couple of weeks before earnings report. The reports for the last few quarters, when many investors were concerned have been good. I expect the only bad news will be a lowering of book value and maybe they got a margin call or 2 on some loans, which they are prepared for. My main concern is, are they taking advantage of the huge drop in price on the type of investments they hold. Hopefully they have some cash and have purchased or funded some loans at some killer rates. Once they announce the divy which I seriously doubt will go down then the stock will make that move up as it usually does. However, unless they lower the divy or the book value truely crashes I doubt the stock will go lower that the bottom it made last quarter around 5.49. There would have to be some really bad news to get it lower than that. If I was looking to add, and unfortunately I own too much to do that, I would wait to see if it hits the 5's. If it goes to 5.5 I'm going to add, I don't care how much I own.

 

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