TMST Inc. (fka THMRQ)

[heatherwilcox]

Bill Gross of Pimco is someone who has shown pretty decent judgment in the past between discerning reality versus perception making a decent sized bet on Thornburg.

From WSJ story: Even Thornburg, 'Strong' Lender, Is On the Brink
http://online.wsj.com/article/SB12049150...
William Gross, chief investment officer of U.S. bond titan Pacific Investment Management Co., said on CNBC on Friday that the firm bought about $100 million of Thornburg's debt in the last few days. He expected the return on the investment to be close to double-digits.

This entire bogus crisis has been filled with reporting of the lowest caliber in the press. The Barron's article on Fannie Mae is a new low on this front. What stupidity.

The media has contributed in making the crisis by swallowing whole unquestioningly that there is
a real problem vs a problem that's largely a accounting technicality -- mark to market accounting versus loan loss accounting.

In effect they have swallowed whole what the Bill Ackmann and shorts point of view on MBIA, Ambac, Fannie Maes with zero skepticism. Know nothings like Herb Greenberg has been complicit in fanning the flames by publicizing the shorts views like it were the official story. Further they have ridiculed the notion that these companies are just bystanders to
the credit panic that has zero real financial impact on them as will be apparent soon. Anyone with an understanding of their businesses would understand why it's preposterous to suggest that they have a real financial problem versus a problem of accounting and perception.

Can't wait for the enormous short squeeze in the most egregiously affected names like Thornburg, Carlyle, Fannie Mae, Freddie Mac, Ambac, MBIA and numerous others and seeing the egg on the faces of these know nothings and the excuses that they make for why they got it 100% wrong.