I'm having a hard time understanding why AGNC is so far below book value. Does the market think the BV will fall? Or that a fiscal cliff crisis will disrupt short-term funding? Is it just fear of a dividend cut?
Why would anyone fear a dividend cut? It would still be a huge return. Cramer just said buy AGNC today and he has never pumped this stock; was always pumping NLY. Should have hit the bottom on Wed. Up from here.