Peter HodsonXceed Mortgage Corp.XMC.TOPAST TOP PICKFeb 19, 2007

Great company until rules of the game changed. Trying to reposition themselves into a company that funds itself from deposits and they're trying to get a deposit and banking license. This could take a long time. Fully valued.

Xceed Mortgage Company is a sub-prime mortgage company. The stock has done well this year. Their dividends have increased. It is a well run company. He paid $9-10.

Doesn't know the company that well, but if you get a slowdown in interest rate hikes, they should do okay. There is not a housing bubble in Canada like there is in the US. The company is well run and a potential takeover target.