Indeed. I was 99% sure that WMC got rid of Steve because of his agency leanings and the Q2 bv decline. I was wrong and he really did simply retire. haha
He was always enjoyable to listen to during the cc's....he kept it light even though the subject matter was difficult.
Thanks for the nice words--yep I really did just retire. I have no knowledge of what the portfolio looks like today, but my bet would be not too much different than when I left--maybe a few more non-agencies. While I've been spending alot more time teaching jiu jitsu and getting a team ready for a jiu jitsu competition in Denver in November than I have watching the markets, my basic views haven't changed. The economy continues to limp along, now with added political uncertainty and sequester cuts continuing to roll in. I've always said is was going to be Yellen and I've never once changed my opinion on that. She is a die hard dove and I doubt that the we will see any Fed tapering until 2014. The Fed continues to buy most of all of the MBS being created and despite slightly rich valuations, MBS should trade in a 25-35 basis point range to swaps. I still like the basic REIT trade--WMC had a good earning portfolio and still does.