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Fifth Street Finance Corp. Message Board

  • thewisejman thewisejman Dec 25, 2013 4:19 PM Flag

    Wayne, US postage stamps and 3 REITs

    Well, Wayne said 17 hours ago:
    "I bought several years of "forever" postal stamps last year and gifted family with plenty -- and kept several year's worth for myself. Frankly, I was expecting the post office to get Congressional approval to boot the price to 50 cents last year. Nevertheless, I'm good for many years. The "writing on the wall" is clear and forever stamps will be $1 in a few years."

    I just learned that:
    "Regulators on Tuesday approved a temporary price hike of 3 cents for a first-class stamp, bringing the charge to 49 cents a letter in an effort to help the Postal Service recover from severe mail decreases brought on by the 2008 economic downturn. Many consumers won't feel the price increase immediately. Forever stamps, good for first-class postage whatever the future rate, can be purchased at the lower price until the new rate is effective Jan. 26. "
    A while ago, I had bought ten books of these forever stamps at 40 cents each, thinking they would probably last forever since we seldom mail stuff any more. I believe I may be now down to the last book. I may need to get a few more books from the post office.

    Also, read this Seeking Alpha article yesterday:
    "3 Major mREIT Dividends Announced; 1 Conviction Buy And 2 Holds"
    in which the author believes JMI is a better buy than NLY and AGNC especially it had already declared a monthly dividend of 0.15 (about a 13.77% yield) for a 12-mo period: Jan, 2014-Jan. 2015.

    I would like to hear Wayne's and others' thoughts on it. Thanks.

    It has been a very sunny and quiet Christmas Day. Chilly though. J

    P.S. I am glad I bought a laptop with Windows 7 on it than Windows 8. Microsoft just reduced $200 on one of its Wondows8 tablet. Probably not selling. UPS had troubled delivered Amazon's orders by Christmas Day (they closed today) and so some of you may receive your Christmas gifts (ordered from Amazon). If that is the case, Amazon will reimburse you for the shipping charge and/or gift cards)

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    • JMI has the same management as ARR, which is the same management that busted Bimini. I'd avoid JMI and ARR. The Seeking Alpha author seems to have bought this some time ago and is way underwater. JMI went from $20 to $13...

      Mortgaqge rates will rise more in 2014. A 30-year fixed rate of 5% is still too low, and since we will continue to see ZIRP for a few years, that means that agency mREITs (and many hybrids) will see lower BVs and lower dividends; lower dividends will be because hedging cost will be higher and repro refinancing cost will go up, but they interest income is pretty much stuck.

      There will be a time to get back into mREITs, but not at the bottom of an interest-rate cycle where rates can only go up. Now is not the time to get into these. There are too many uncertainties.

      If you want to get into a more diverse mREIT that should do well in an improving economy, then look at NRZ or TWO -- both are moving into mortgage servicing. Other places to be include BDCs, gas & oil, and short- or intermediate duration junk bonds (PTY, PHT, PKO or non-leverages ones such as JNK or SJNK), and of course equity REITs (NRF and NCT).

    • tulsadevlin Dec 26, 2013 9:57 AM Flag

      Sold ( too soon) my JMI . Made a little coin plus some divvies.
      Will try to buy it back.13% , pays monthly,-- does look inviting .
      Still have a little MORL.

    • Now the funny thing with Amazon, my regular Subscribe and Save order (which I had more than five items and received a 15% discount) which was finalized on Dec. 20 but was said on their site it would not arrive before Christmas did arrive yesterday. It was really surprising that I order a whole case of Q-Ginger drinks in glass bottles (48 bottles) but none of them got damaged. They shipped it with three boxes (one within each other). If I have to pay for the postage alone will cost more than the drinks itself. If you like ginger ale, this is the BEST and with stevia, a bit better than with sugar.

8.09Dec 26 4:00 PMEST

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