Seeking Alpha
View as an RSS Feed

Delta_Neutral  

View Delta_Neutral's Comments BY TICKER:
Latest  |  Highest rated
  • Why I'm Shorting VXX Rather Than Buying XIV [View article]
    December 6, 2010 - XIV $10.95
    August 5, 2015 - XIV $26.22

    December 6, 2010 - VXX $662.24
    August 5, 2015 - VXX $26.58

    Is there even an argument as to which is better long term?
    Aug 26, 2015. 12:22 AM | Likes Like |Link to Comment
  • New Residential Investment Corp: Be Careful With This 12% Yielder [View article]
    an Excess MSR is actually very easy to understand, but it's not meant for ignorant people to understand. ex. MSR is 35bps. 6bps goes to the servicer. 29bps is the Excess MSR. Depending on the structure the excess 29bps usually goes to the following allocation 65%(NRZ)/35%(NSM/OCN). That wasn't that difficult now was it?
    Aug 12, 2015. 08:32 PM | 2 Likes Like |Link to Comment
  • New Residential Investment Corp: Be Careful With This 12% Yielder [View article]
    Further, a 10% minimum mgmt yield would suggest that this should be worth $18, based on a $1.80 annual dividend. I expect dividend for Q3 to again be 45c and raised a penny to 46c for next quarter
    Aug 12, 2015. 04:27 PM | 3 Likes Like |Link to Comment
  • New Residential Investment Corp: Be Careful With This 12% Yielder [View article]
    Management targets a 8-10% yield. It's currently undervalued at 12% yield. Core EPS for this quarter was 45c with a 2-3c one time drag for HLSS related expenses. Dividends are paid 95-100% of Core EPS. I've been long since pre split $6 (now $12). I can't say I 100% understand what they do, However, I do understand MSR and understand that MSR increase in value when rates rise. NRZ basically prints free money from the excess MSR rights they own.
    Aug 12, 2015. 04:26 PM | 2 Likes Like |Link to Comment
  • Ocwen wins praise of mortgage settlement monitor; fund manager adds to stake [View news story]
    its flat on a 250 red DJIA today. that's a good sign
    Aug 11, 2015. 02:58 PM | Likes Like |Link to Comment
  • New Residential Investment's (NRZ) CEO Michael Nierenberg on Q2 2015 Results - Earnings Call Transcript [View article]
    they pay out 90-100% of Core EPS. Core EPS was 45c this quarter. very likely, it's 45c this quarter and 47c next quarter
    Aug 11, 2015. 02:21 AM | Likes Like |Link to Comment
  • New Residential Investment's (NRZ) CEO Michael Nierenberg on Q2 2015 Results - Earnings Call Transcript [View article]
    thanks. but how did you get to that number? do you mind showing the math. also, how did they own the call rights?
    Aug 11, 2015. 02:13 AM | Likes Like |Link to Comment
  • DCF Myth 2: A DCF Is An Exercise In Modeling And Number Crunching! [View article]
    I've ran hundreds of conservative DCF models and found that concepts (Tesla, FB, AMZN, NFLX) cannot be valued. The participants (majority retail) buy what they use on their smartphones and have no clue what an appropriate valuation is. Do we use coal everyday? bankrupt. Do people use natural gas to heat their homes and cook? close to bankruptcy. The things that are finite, people could care less about. Snapchat is likely more valuable than the entire Coal and Natural Gas combined. Irrationality cannot be modeled. Good article btw
    Aug 11, 2015. 02:11 AM | 2 Likes Like |Link to Comment
  • DCF Myth 2: A DCF Is An Exercise In Modeling And Number Crunching! [View article]
    Numbers aside, it is impossible to value irrationality, pessimism, fear, irrationality, reflexivity, and the other 699 human emotions. DCF supports a narrative, but PEOPLE vote with their wallets. This even Sir Isaac Newton could not have modeled with a DCF calculator
    Aug 11, 2015. 02:06 AM | 1 Like Like |Link to Comment
  • New Residential Investment's (NRZ) CEO Michael Nierenberg on Q2 2015 Results - Earnings Call Transcript [View article]
    let me get this straight, NRZ has bought NARMBS at a discount to par. ex. 80c to 100 par. How do they "own the call rights" to the NARMBS? Do they buy the call rights in advance? Are they originator of the NARMBS securitization?
    Aug 10, 2015. 10:18 PM | Likes Like |Link to Comment
  • New Residential Investment's (NRZ) CEO Michael Nierenberg on Q2 2015 Results - Earnings Call Transcript [View article]
    They own call rights on ~$200bn UPB of Non Agency deals. what does that represent in net income, @dividendinvestor?
    Aug 10, 2015. 07:21 PM | Likes Like |Link to Comment
  • New Residential Investment Corp.: 3 Reasons Why This 11% Yielder Is Down Sharply From Its 52-Week High [View article]
    Earnings will be fine plus I predict a dividend increase to 48c
    Aug 4, 2015. 11:12 PM | 1 Like Like |Link to Comment
  • The Simple Math Behind BreitBurn Energy Partners [View article]
    ummm its down 14% today or now at 2.59....
    Aug 3, 2015. 08:09 PM | Likes Like |Link to Comment
  • Nationstar Mortgage up 2.5% as Citigroup boosts target [View news story]
    it should be $30 & Ocwen should be $15
    Aug 3, 2015. 11:22 AM | Likes Like |Link to Comment
  • Alpha Natural Resources files for bankruptcy [View news story]
    wow....acquisition of Massey Energy plus EPA rules destroyed shareholder (and bondholders) value
    Aug 3, 2015. 09:15 AM | 2 Likes Like |Link to Comment
COMMENTS STATS
357 Comments
296 Likes