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Annaly Capital Management, Inc. Message Board

  • Frozty23 Frozty23 Mar 14, 2006 11:01 AM Flag

    Sneakier and Sneakier

    From the 10K Exhibits: "Book Value" of the Company shall be equal to the aggregate amounts
    reported as Stockholders Equity on the Company's balance sheet as of the end of
    each fiscal year determined in accordance with generally accepted accounting
    principles (GAAP) but without taking into account any valuation reserves (i.e.,
    changes in the value of the Company's portfolio of investments as a result of
    mark-to-market valuation changes, referred to in the financial statements as
    "Accumulated Other Comprehensive Gain or Loss").

    HAHAHAHAHA

    So they're going to stop calculating book value in step with the portfolio losses! Now you'll have "intangible Assets" on top of "overstated MBS Asset values" going into the reported Book Value.

    I guess no one will hardly notice, least of all Retail!

    What a pattern of integrity... first they removed the comment "It continues to be our policy to not return Capital to our shareholders" from the dividend declaration... and 6 weeks later revealed that they had in fact juiced the "dividend" with ROC.

    Now they'll probably start pointing to a newly overstated Book Value as a measure of how well they're doing as a management team! LMAO.

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    • ------------
      So they're going to stop calculating book value in step with the portfolio losses! Now you'll have "intangible Assets" on top of "overstated MBS Asset values" going into the reported Book Value.
      -------------

      you forgot one very important fact, this is the same wording they've had all along, so book value calcs are not changing...

      jon.

    • It's making losses, dividend is zero, the business is up to the ass in alligators, and yet the pps has hardly fallen 30% from when it was making profits, while IMH comes down from the $23 to $8 and isn't even making a loss?

      I have owned this stock and made money on it, but right now it's defying gravity and it is has got to plummet sometime soon.

    • I don't see any change in accounting in regards to book value of the mortgages. Below are excerpts defining book value from the last two 10Ks and they look the same to me.

      Filing Date: 12/31/04
      1.1 "Book Value" of the Company shall be equal to the aggregate amounts reported as Stockholders Equity on the Company's balance sheet as of the end of each fiscal year determined in accordance with generally accepted accounting principles (GAAP) but without taking into account any valuation reserves (i.e., changes in the value of the Company's portfolio of investments as a result of mark-to-market valuation changes, referred to in the financial statements as "Accumulated Other Comprehensive Gain or Loss").

      Filing Date: 12/31/05
      1.1 "Book Value" of the Company shall be equal to the aggregate amounts reported as Stockholders Equity on the Company's balance sheet as of the end of each fiscal year determined in accordance with generally accepted accounting principles (GAAP) but without taking into account any valuation reserves (i.e., changes in the value of the Company's portfolio of investments as a result of mark-to-market valuation changes, referred to in the financial statements as "Accumulated Other Comprehensive Gain or Loss").

      Shepherd

    • And then Herb Greenberg will do another hit piece on NFI and he and his friend Cramer will pump NLY as a 'value play'.

 
NLY
9.83+0.10(+1.03%)Feb 8 4:05 PMEST