"We figure that three to five years from now, there will still be a mortgage and housing industry," Muhlenkamp says. "And Countrywide will still be one of the survivors - many of its competitors are going out of business."
As for the SEC investigation into the stock sales by the controversial CEO Angelo Mozilo, Muhlenkamp is unconcerned.
"We knew he was selling" says Muhlenkamp. "Mozilo built a great business, so you would expect him to reap financial rewards. That's fine as long he takes the shareholders along with him. And he did - he made us a lot of money."
There are some links to the other stories about Countrywide linked at the article that I recommend reading.
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