Seeking Alpha

Albert Alfonso  

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  • American Capital Agency: Riding The Volatility [View article]
    richbar,

    I like AGNC, but it is not a bond alternative. Rather, it is a risky, high yield, leveraged play on the MBS spreads. I keep names like these at ~2.5% of my capital, no need to be a hero.
    May 13, 2015. 10:33 AM | 4 Likes Like |Link to Comment
  • American Capital Agency: The Sky Is Not Falling [View article]
    Bruce,

    I got a lot of heat back in 2013 when I told everyone to avoid ARR. Never understood why they get the benefit of the doubt. They do not even have a full-time CFO/IR guy. I've sent emails to them and not once have they replied. Tells you what they think of us small-time investors...
    May 6, 2015. 11:49 AM | 3 Likes Like |Link to Comment
  • American Capital Agency: The Sky Is Not Falling [View article]
    tony8900,

    You would think the "debt-like" preferred stocks would get crushed if the common were having major problems. I think this tells us that the market is overreacting.
    May 6, 2015. 10:33 AM | 2 Likes Like |Link to Comment
  • American Capital Agency Illustrates The Busted Agency MREIT Business Model [View article]
    Tim,

    AGNC posted a positive 7% return during a hectic Q1 2015 and that is a busted business model? More like the market is pricing in more risk and demanding a larger discount.

    Otherwise, a good fact-based article, just hated the title :)
    Apr 28, 2015. 11:59 PM | 3 Likes Like |Link to Comment
  • A Shocking Dividend Cut At American Capital Agency [View article]
    Bruce,

    I added on this dip at $21.75. First new capital in AGNC since the Q1 2014 when we were below $20. Cost basis is now firmly below the book value.

    The company still posted a positive total return this quarter. While I get why the market sold the stock off, we are due for a bounce.
    Apr 28, 2015. 11:46 PM | Likes Like |Link to Comment
  • A Shocking Dividend Cut At American Capital Agency [View article]
    Chancer,

    That was a good move in hindsight.

    I own AGNC/MTGE/CYS, though their % of my invested capital has fallen since I have not added new capital since Q1 2014. I look at them as a hedge for my equity long position.
    Apr 28, 2015. 12:41 PM | Likes Like |Link to Comment
  • A Shocking Dividend Cut At American Capital Agency [View article]
    Ralph,

    I am shocked since they more than covered the dividend with spread + dollar roll income. I just did not see this coming.
    Apr 28, 2015. 12:39 PM | 2 Likes Like |Link to Comment
  • A Shocking Dividend Cut At American Capital Agency [View article]
    rosenose,

    Yup, you are correct. If you listened to what Mr. Kain said on the MTGE call, you'll have notice how conservative he has become. MTGE lowered its dividend for the same reasons, though that cut was sharper than in needed to be, IMO.
    Apr 28, 2015. 12:38 PM | 1 Like Like |Link to Comment
  • A Shocking Dividend Cut At American Capital Agency [View article]
    drking,

    I am in the same boat. Red on AGNC in capital losses, though green when dividends are included. I might add on this dip to lower my cost basis even further.
    Apr 28, 2015. 12:36 PM | 1 Like Like |Link to Comment
  • A Shocking Dividend Cut At American Capital Agency [View article]
    daver202,

    AGNC generated $0.70 per share and paid out $0.66 in dividends. That is a 1.06x coverage ratio. They lowered it due to expected lower returns in the near future as leverage falls.
    Apr 28, 2015. 12:34 PM | 2 Likes Like |Link to Comment
  • American Capital Agency: Unloved, But Still Outperforming [View article]
    To taper or not to taper plus the uncertainty in interest rate policy. Both are negatives for mREITs.
    Mar 1, 2015. 02:36 AM | Likes Like |Link to Comment
  • American Capital Agency: Unloved, But Still Outperforming [View article]
    brep,

    A nice dividend. However, one has to be disappointed by the price action. If it were not for the FED meddling, AGNC could be 15 to 20% higher.
    Feb 17, 2015. 01:32 PM | 5 Likes Like |Link to Comment
  • American Capital Agency: Unloved, But Still Outperforming [View article]
    coolsoupy,

    I am long AGNC and like to analyze/write about the stocks I own. This is in order to either confirm my long or confirm the reasoning for exiting the position.
    Feb 17, 2015. 01:31 PM | Likes Like |Link to Comment
  • American Capital Agency: Unloved, But Still Outperforming [View article]
    pantherdoc,

    Gary Kain comments were bearish. However, given the large discount to book AGNC is already trading, the net impact should be minor.
    Feb 17, 2015. 01:28 PM | 1 Like Like |Link to Comment
  • American Capital Agency: Unloved, But Still Outperforming [View article]
    Donkey Dust,

    What is it you did not understand?
    Feb 17, 2015. 01:27 PM | 1 Like Like |Link to Comment
More on AGNC by Albert Alfonso
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