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  • There Is A Lot Of Misinformation About American Capital Agency's Q3 Earnings - They're Decent [View article]
    Thank you for an outstanding and, I believe, very correct analysis. I own 4 mreits (nly, agnc, Ivr and efc) and have been wondering how to react to the current environment. Right now I'm holding. I believe that my overall return (IRR) over time will be very good.
    Oct 30, 2013. 07:11 AM | 6 Likes Like |Link to Comment
  • More on the Wunderlich downgrade of the mREITs (REM +1.2%), (MORT +1.3%): The "lack of liquidity reached crisis levels" on Friday, says the team. "Price discovery has become a very uncertain process and we believe there is a risk that some entity - be it a mREIT or a hedge fund - could fail to meet margin requirements ... while we hope to be wrong in this case, equity investors need to be mindful of the potential downside scenarios." [View news story]
    Regarding the collapse in mreit values, I keep following the change in the yield curve. It seems that the longer maturities are rising and the shorter maturities are about the same. Over time, isn't this a good thing for the mreits?
    Jul 8, 2013. 06:31 PM | Likes Like |Link to Comment
  • Annaly And Chimera: Big Possible Downside [View article]
    I don't think you properly understand these companies. You can't measure them like an everyday industrial. They are by nature volatile. Simply check the dividends and yields through NLYs entire history including through good yield curves and bad. If one had owned NLY over time the IRR is outstanding. I own both NLY and CIM. As a retired person I love collecting those dividends regardless of whether the yield on my original investment is 15%, 10% or 7%.
    Mar 22, 2012. 11:36 AM | 2 Likes Like |Link to Comment
  • What I'll Buy With Dividend Income This Week [View article]
    Your discussion of exc omitted mention of it's energy hedge contracts which are about to come due. Unless the energy market rates changes, exc's revenue and earnings will fall significantly. That's why the stock appears to be cheap.
    Mar 5, 2012. 06:27 AM | 2 Likes Like |Link to Comment
  • Annaly Capital: A Buy In Spite Of The Naysayers [View article]
    I absolutely agree. NLY is also part of my retirement portfolio. Even if the yield drops, it is still well above typical market yields. Look at NLY's history. Even in a bad interest rate environment, the company still does better than typical market yields.
    Jan 11, 2012. 11:28 AM | Likes Like |Link to Comment
  • A Primer on Agency REITs and 6 That Currently Yield Over 12% [View article]
    I enjoyed your article on mortgage REITS. I particularly like and own NLY. Additional perspective on this name comes from examing the yield history. NLY, for example, has done well under varying and extreme market conditions. It's yield during the worst of times was about 5%. The ability of the company to manage it's portfolio through hedging and other methods is impressive.
    May 19, 2011. 08:06 AM | Likes Like |Link to Comment