No. of Recommendations: 4

You mention Thornburg (TMA). I owned quite a bit of TMA and was vigilant. I probably studied them more than any other stock I have ever owned. I bailed when one day I figured out they couldn't cover their next dividend. As it was I lost a couple thousand dollars, but as you say, it could have been so much worse.

I believe that the BK of TMA was not needed. They really were quite careful in who they loaned to even though they gave jumbo and unqualified loans (unlike NLY) loans, and I don't know why the creditors decided to deep six them. I mean, all the wealthy are not credit risks. It was a pity.

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