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ARMOUR Residential REIT, Inc. Message Board

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  • sheetwise sheetwise Mar 12, 2012 12:58 AM Flag

    Back to $7.50 a share in a week or

    if you read and interpet page 33 of the 10K

    These guys sold MBS but didn't unwind the corresponding swaps. So when the swaps went down, there wasn't a rise in the value of the corresponding MBS since they had been sold and were sitting in cash.

    That's why book value took a hit in the fourth quarter.

 
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