Olee. I think your under-estimating.
On their 2Q 10Q they had 1.58 Billion in unrealized gains on the portfolio.
Last Q (3rd quarter) they logged another 1.19 Billion in unrealized gains.
The 3rd Quarter 10Q is not out,so I can't dig up the actual number from he 3rd quarter 10Q.
For simplicity lets just say they have 2.8 BILLION in unrealized gains.
Which gives them roughly 8.91 a share for unrealized gains.
And they had what.. 1.52 of carry over?
They have a lot of money to work with. : )
Of course they can't just go and sell their whole portfolio either.
And MBS prices may drop which will degrade the 2.8 Billion in unrealized gains.
So throwing out a number like 2.8 BILLION / 8.91 a share isn't realistic.
They will probably continue to sell a bit each quarter.