A "strategic shift" is afoot at the mortgage REITs, says Wunderlich's Merrill Ross, as the...

A "strategic shift" is afoot at the mortgage REITs, says Wunderlich's Merrill Ross, as the gorilla in agency MBS (the Fed) has some looking at assets like commercial mortgages and private label securitizations. Exhibit A is Annaly's (NLY) purchase of CreXus (CXS). "It's like the Yankees saying they are going to diversity out of baseball," says Jefferies' wary Daniel Furtado.

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Comments (11)
  • jknow132
    , contributor
    Comments (7) | Send Message
    Poor command of English I'd say, but then what can you expect today
    19 Feb 2013, 11:50 AM Reply Like
  • Grillo Capital Management
    , contributor
    Comments (17) | Send Message
    The Yankees diversified out of baseball very nicely and I expect nothing less from NLY.
    19 Feb 2013, 12:40 PM Reply Like
  • karmike
    , contributor
    Comments (190) | Send Message
    You know, I love these Seeking Alpha articles usually, but what the heck is this one saying?
    19 Feb 2013, 12:52 PM Reply Like
  • curious-george
    , contributor
    Comments (619) | Send Message
    surely to buy NLY
    best in class
    19 Feb 2013, 02:36 PM Reply Like
  • genmk
    , contributor
    Comments (10) | Send Message
    must be a slow news day at the exchange.
    19 Feb 2013, 03:07 PM Reply Like
  • dgg38
    , contributor
    Comments (3) | Send Message
    This article has no significance in creating profits or"Seeking Alpha"


    Diversification within a set is diversification. Diversification outside the set is an adventure. NLY is sticking to the business they know so well and are creating new opportunities within their "set"
    19 Feb 2013, 03:08 PM Reply Like
  • CatsArePurrfect
    , contributor
    Comment (1) | Send Message
    To gain more clarity, read the Bloomberg article referred to in the post - click on "looking at assets" in the post or here:


    19 Feb 2013, 03:09 PM Reply Like
  • bradbruce2
    , contributor
    Comment (1) | Send Message
    I mean really. If you want credibility you need to have the remarks made on your site intelligent
    19 Feb 2013, 03:15 PM Reply Like
  • jmf3210
    , contributor
    Comments (116) | Send Message
    Hardly. If you're implying it is leaping industries.
    Annaly's wholly-owned subsidiary, FIDAC, already manages Crexus, in addition to NLY's 12-percent equity position in the firm. No stranger to these parts.
    Check out NLY's website (annaly.com) to see the other firms in the Annaly "family" of mortgage-related, interest rate-sensitive activities.
    19 Feb 2013, 04:11 PM Reply Like
  • jercarey
    , contributor
    Comments (12) | Send Message
    I agree. Must have been a slow news day.
    19 Feb 2013, 05:38 PM Reply Like
  • hughrhodes
    , contributor
    Comments (2) | Send Message
    This is like saying someone who owns 10 shotguns is making a strategic shift by buying a rifle.
    20 Feb 2013, 09:21 AM Reply Like
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