Monday, September 10, 2007

Two Funds Dump Countrywide; Legg Mason Catches Falling Knife

Two of Countrywide Financial Corp.'s largest shareholders said in regulatory filings Monday that they have cut their stakes in the mortgage lender...

AllianceBernstein LP had been the largest stakeholder in Countrywide, but it dumped 40 million shares in August.

Barclays Global Investors NA dumped almost 25 million shares.

Meanwhile Legg Mason is buying. They liked it at $30 and they like it even more under $20. They will probably get really excited about buying at $10.

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