While MF passing is very sad, you do have to give NLY credit for the way in which they have handled the transition so far.
Clearly in retrospect they knew that MF didn't have much time, and wisely named Wellington co CEO as well as announced the 10% share buyback.
They get high marks for this proactive planning in my book.
It is particularly well orchestrated when you compare it to the CF that happened at C this week around Pandit's ouster.
This was a high class move, and shareholders should recognize this in my view.