Patmeister

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Fri Mar 14th 19:20 PM | Rating: 0 0
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Annaly Capital Management Selloff Overdone

Good analysis Patrick. I have my Dad and Mother-in-Law in this stock as well as myself because I believe in their management. I think Mike Farrell is smart enough to have seen this coming. The real key is the GSE securities and how well they hold up. No doubt Fannie and Freddie are facing hard times, and these securities ultimately require people to pay the mortgage, but I too agree the government can't allow a wholesale failure of the GSE MBSs. I bought this week with limit orders at $14. The yield is incredible at that level, and Farrell said he sees dividends rising. With all the problems facing the industry, I really doubt Farrell would be so optimistic if he didn't know what he was doing. If this thing gets below book value, I'm buying more. The yield curve is steep, which is very good for Annaly. When others are fearful, it's time to be greedy.
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