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Western Asset Mortgage Capital Corporation Message Board

  • nickspinner Mar 7, 2014 12:44 PM Flag

    Brutal day.


    Double ouch.

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    • It just shows that if you buy "good companies" at "bad prices" it doesn't work out all that well. After they announce a .55 div and a low/mid 15's BV you will get a chance to buy a good company at a good price--which will work out.

      • 3 Replies to gracieblackbelt.2012
      • Well lowered leverage and went to more non agency so negative duration wont hurt as much especially with mbs on the slide - only up about 1 pt since last quarter now with the recent hit down.

        and they talked about upping it and lowering it as rates range up and down so that can help alleviate it

        but gotta suspect and i said it before all of these are slowly morphing to non agency - even nly is 14% commercial now so they are a hybrid in a sense too.

        plus they committed 50% to non agency and so that will help them morph more quickly just as you are seeing in amtg and mitt.

        should see rates be better then mitt and amtg as they delay dropping it if they are smart to allow it to roll over slowly in case they dont earn as much.

        do they have any undistributed money like mitt to help keep the divi intact? and what about like mitt - are they able to earn any fee money - mitt had a big exit fee last quarter that helped their core??

        i added 2 to 3k on the dip and flipped it around

        hopefully a divi that is close and that will facilitate a divi pop and get the longs some profits

        then its time to go short i think.

      • Gracie, I am not sure if you were the CIO of WMC, but none of your predictions have come true: your prediction of no-tapering, prediction of WMC price falling to low 14 or even 13, prediction of SPO, prediction of low book value of low 14, prediction of the better value of AGNC than WMC...
        While I respect you as a knowledgable person, your trading tactics is no better than others

      • nickspinner Mar 7, 2014 7:58 PM Flag

        Balderdash! Poppycock!

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