... that I finished selling the last of my MTGE yesterday. I think we are looking at a big market drop as we go over the cliff. Fortunately, I have about $3/4 million in cash now to see if something interesting goes on sale. Be careful, guys, it's dangerous out there.
I wasn't ready for that bombshell.
For a seemingly loyalistic but smart investor such as yourself to have sold MTGE must mean you're quite serious as to your belief in its significant drop.
I'll bet many of those shares were purchased way back when, and probably under 18.
While I didn't trade MTGE this quarter, I do have a slew of MTGE shares in my ira for the divvy.
Truthfully, I was thinking of selling MTGE yesterday myself, but declined, figuring everything would eventually come out in the wash(up a few, down a few), happily collecting dividends every quarter in the mean time.
My thinking is that with no spo in the immediate future, MTGE may make a pps runup similar to AGNC's of last year.
I may have to re-think my strategy.
Do you see a general fall(over the cliff?!), or with MTGE/REITs specifically?
I didn't get MTGE that cheap; my lowest price was $21.50 and that was just in April or May, I believe, but I had 63,500 shares. Some of what I sold is now PSEC, RSO, NRF and BKCC. Those have all done well, and pay nice divies too.
I think we have the potential for a bad general market correction. Throw in ex-divy, and we might see $21.50 again. Debt ceiling is not far off either. I usually have trouble staying in cash 'cause I tend to want to buy something for the divies, but I'm not having trouble this time. At some point I'll be back in MTGE/AGNC.
You remain one of the only posters who like to flash your wallet. Angrad was another, boasting of his 5 million portfolio. There have been a few others. Its Ok, but its like sitting across the dinner table from somebody you care for, and making them aware, as discreetly as possible, that they have a booger hanging from their nose. I am trying to get your attention...;-)
I am trying to encourage others to take advantage of the opportunity that is the stock market. I also what them to realize that you don't have to play the options to do it ... as many on this board would suggest. I know it aggravates you, Doc, but it is a small price to pay.