But there is no doubt that MBS REITs were more than just a trade or a scam. Even as the future is cloudy (with the FED doing QEinfinity in MBS) for NLY and, indeed, most Companies that rely on free markets to work, you have to give MUCH of the credit for the success of this model (to date) that has been imitated and. Copied by so many these days to Farrell.
If there is an afterlife I am sure MF is collecting big dividends.
Yes, Michael Farrell has generated some very good returns for shareholders over the past 15 years. NLY has had a very good reputation from both small and institutional investors, largely because of Michael Farrell. Mike had given control of NLY and its subsidiaries to other people while he was undergoing treatment (succession plan had been in play for many months); shareholders should not have to worry about this.