CIM told us they had a book value of $3.55 per share in the last earnings report. Given that it is about 18%+ below book, is it a compelling value now? Or is there reason to think that it's book value is now not at $3.55, but substantially less?
FWIW: Have a look at what Leon Cooperman paid for it. He considered CIM 15% undervalued the last time he last made a public comment. I looked at his F-13 filing yesterday: he hasn't sold any of his CIM shares.