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  • A bull on mortgage REITs, Dividend Master nevertheless unloads American Capital Agency (AGNC) and American Capital Mortgage (MTGE). AGNC's and MTGE's share prices tower by about 10% over their book values ($29.06 and $21.78 respectively, as of 3/31). Expect secondaries soon to "monetize the premium."   [View news story]
    How do you arrive at this book value. Have the prices of the underlying securities or mortgages increased and not been "marked to market?" Or has AGNC acquired more securities/mortgages that re not reflected in available information?
    May 22, 2012. 12:17 PM | Likes Like |Link to Comment
  • Citigroup (C) is facing a potential multibillion-dollar writedown as it begins unwinding its minority investment in the Morgan Stanley Smith Barney brokerage. Accounting complications and a reduced valuation could leave Citi facing an after-tax hit of up to $1.8B, more than it earned in Q4.   [View news story]
    This is one reason why "price times book" is a worthless measure in the financials - book values as stated by the big banks are illusory at best
    Feb 22, 2012. 06:55 AM | Likes Like |Link to Comment