GloomyMac- February 4, 2007 IndyMac (NDE) took a beating a couple of weeks ago, after they reported disappointing earnings. To make matters worse, the mortgage lender issued a somber forecast for 2007, gloomily predicting defaults, "cut-throat competition" and narrow margins. Ouch. The curtain rises; Investors all over the world shut their eyes, imagine the housing bubble bursting and sell, sell, sell.But maybe, just maybe, they are overreacting. The fact is the sky is not falling. The fed hasn't hiked yet, and even if...http://whereistheyield.blogspot.com/2007/02/gloomymac.html |