Annaly: A Particularly Positive Update

| About: Annaly Capital (NLY)

I feel compelled to alert our readers on the condition of Mike Farrell's health, since Annaly (NYSE:NLY) has had its share of question marks within articles written here and elsewhere -- the issue of Farrell's health has been cited as a reason to avoid buying shares, or selling shares already owned, of Annaly.

Annaly Capital Management, Inc. (<a href='' title='Annaly Capital Management, Inc.'>NLY</a>)

I never thought it was much of an issue since the management team of Annaly has been on board with the overall business model and standard operating procedures, but some folks think it is of particular importance.

That being said, the company and Farrell himself issued a statement this afternoon. This businesswire news release details the outstanding progress Farrell has made:

"There are no certainties in life, but I feel good and have been given an encouraging prognosis," said Mr. Farrell. "This good news was made possible because of my terrific medical team and the support of my family, friends and colleagues, and I want to thank them for that. I look forward to continuing my work and, along with my very capable management team, remain committed to our mission of delivering strong, income-based returns to Annaly shareholders."

I believe that this statement would have been enough, however Farrell continued:

"Looking ahead, I believe there are many risks in the marketplace, including slow economic growth, uncertainty in Europe and the future of monetary policy. Our management team has maintained a relatively conservative operating profile that is designed to prepare us for this environment and position us for a wide range of outcomes. I believe it has set us on a path to continue to generate attractive risk-adjusted returns over the long-term."

So, not only has the health issue been addressed, but so has the overall positioning of Annaly for the economic environment we are in and/or face down the road. To me it confirms what I have maintained all along; Annaly is ready to perform in a conservative manner for the long term.

Anyone might find other reasons to ignore the facts and statements made within this press release, but the statement has been made public and elucidates Annaly's business quite firmly.

My opinion remains the same as it has always been. I am and will be a long term investor.

It might be time for others to take another look at Annaly for a core position.

Disclosure: I am long NLY.