- Ellington Residential Mortgage (EARN +1.3%) follows through on yesterday's late-day surge, with earnings set to be released tomorrow morning.
- David Schawel speculates book value could come in north of $18 per share (after the big run, the stock is currently at $16.21).
- Pine River Capital (the managers of Two Harbors TWO, and investors in a number of other REITs) disclosed a 5.5% stake in EARN on Friday.
- EARN (a REIT) is managed by the same group who runs Ellington Financial (EFC, a partnership/hedge fund). EFC - which reported its Q2 last week - thus far has navigated its way through the MBS rout as well as anyone.
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