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Tucker Leppa

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  • Add ZAIS Financial To Your Portfolio [View article]
    Thanks for your comment CT, I wouldn't ever use GAAP EPS for any mortgage REIT, look at the diluted core earnings. The EPS estimates were $.39 core earnings not GAAP.
    Mar 28 05:42 PM | Likes Like |Link to Comment
  • CYS Investments Has The Best Upside Potential [View article]
    Yea (SBY).
    Feb 8 01:43 AM | Likes Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    Those seem like they are all possible reasons to me too. Which do you think are the most likely? Thanks for the addition Darren!
    Feb 7 10:05 PM | Likes Like |Link to Comment
  • CYS Investments Has The Best Upside Potential [View article]
    Plus as I have been pretty bullish I probably wouldn't short ARR with the same value as I had long in CYS.
    Feb 7 09:27 PM | Likes Like |Link to Comment
  • CYS Investments Has The Best Upside Potential [View article]
    I didn't go long CYS November 1, I went long December 12, and I have been very happy with the holding so far. My time horizon for this trade isn't a half month intra quarter, it would be a long term multi year position. Seeming as ARR and CYS has yet to even report, I wouldn't count your chickens before they hatch.

    I would say to look back at my article on TWO in February of 2012, I sold at $12.50 and people were laughing at me when the stock hit $13.00. Now the company is trading at $9.90 and I had the last laugh.
    Feb 7 09:25 PM | Likes Like |Link to Comment
  • Gary Kain Is Buying Mortgage REITs At A Discount. Should You Follow His Expert Advice? [View article]
    It means they have invested in other companies not just HTS. They probably purchased the holdings for under $137, but given the share price today that is the value of their holding.
    Feb 7 07:54 PM | 1 Like Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    Yea, it could work the other way and likely will if it is just a short term position. As I said, I'm bullish on the industry, but there are specific names I don't want to be in.
    I don't have the capital or the time to build a diversified and hedged mbs portfolio do you? That is why I invest in mREITs. I wouldn't want the company I invested in to be putting my money into other mREIT companies and collecting management fees for those assets, but that is just me.
    Feb 7 07:45 PM | Likes Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    Except Buffet is.. well Buffet. I think the strategy will work out for him in the short term, but I'd hate to see these positions become long term, or for other mREITs to follow his lead. There are specific companies in the space I absolutely do not want my money in. Thanks Cinquero for your comment!
    Feb 7 06:45 PM | 1 Like Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    Exactly, one can debate the strategy all day. However, they could just return all that $400 and people can invest it in the mREITs themselves without getting double charged management fees.
    Thanks moserad for your comment!
    Feb 7 06:43 PM | Likes Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    Thanks for your reply, I submitted a ticket to change of to off, thanks for the catch. It is more risky because the mREITs are more volatile then the assets they own. A 5% decrease in book value can lead to 20% decrease in stock price. It is a small portion but look in the Q&A section and you will see they said they could do meaningful more purchases.

    Aside from debating the strategy move, how about they just return capital and the shareholder can put their money in the other mREITs themselves and take out the management fee from AGNC? There is nothing to refute that.
    Thanks for the comment tstreet.
    Feb 7 06:41 PM | 6 Likes Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    I don't think he is admitting that management expertise is different, but rather they hold different assets. He asserts that its better for them to buy the other companies that hold these different assets rather than buying the assets themselves. He may be right, but if I was a shareholder I'd want the money returned to me so I could go and buy the other REITs myself and not pay a management fee for those assets. Thanks for your comment.
    Feb 7 06:35 PM | 1 Like Like |Link to Comment
  • American Capital Agency: Conference Call Turned Circus Act [View article]
    Thanks MobilePreacher!
    Feb 7 06:32 PM | 1 Like Like |Link to Comment
  • Gary Kain Is Buying Mortgage REITs At A Discount. Should You Follow His Expert Advice? [View article]
    That's not $400 mm, it's only $137 mm as of today's price.
    Feb 7 03:50 PM | 1 Like Like |Link to Comment
  • Kain buying mREIT shares at AC Mortgage as well [View news story]
    It is all opportunity cost, I'm glad to have owned CYS instead of AGNC, they have done better since the December lows.
    It's easy to say people should have owned AGNC since December lows using your hindsight glasses.
    Feb 7 02:53 PM | Likes Like |Link to Comment
  • Kain buying mREIT shares at AC Mortgage as well [View news story]
    It was a joke, but your metaphor is apples to oranges. I think we can all agree that the mREITs will trade back to book value. However, it is debatable how we get there; whether it be a decrease in book value or an appreciation in share price. I'm of the opinion it will be a mix depending on the mREIT.
    I still wouldn't be a long term holder of AGNC or MTGE even at these levels, but that's just me. I am long CMO, CYS, and TWO though.
    Feb 6 10:14 PM | Likes Like |Link to Comment
COMMENTS STATS
197 Comments
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