What: Shares of mortgage insurer PMI Group
So what: Like fellow mortgage insurers MGIC Investment
Now what: This doesn't come out of the blue for Omega -- the company already had a sizable stake in MGIC. And John Paulson and his firm had already disclosed a stake in PMI. Savvy investors, though, will find their own reasons for taking a shot on these beaten-down insurers. Watching what the "pros" do can point you in the right direction, but it's nearly always a bad idea to just blindly follow their moves.
Interested in more info on PMI Group? Add it to your watchlist by clicking here.
Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community.
Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookies were harmed in the making of this article.