The masses are flocking to AGNC...18 million share volume
I know some folks like the old days of BATESAT and the whole channel dwelling days of wine and roses, but I'm afraid I'm to blame. I drafted letters off to all the major holders on this page(Institutions and Mutual funds):
CC'd to their CEO's, CFO's and Board of Directors, explaining the great benefits of AGNC and MTGE over NLY. I did this last March(early) and explained that it would be a blood bath after the March EX in NLY and for them to switch over to much more lucrative mReits. I listed all of the reasons for this, I have been mentioning, on the NLY message board.
Please note the volume of NLY, prior to my letters(Month of March), compared to the last two months. I think they were waiting for validation of my claims.
I think we will see great growth, as we wake up more folks to the incredible growth in capital appreciation plus superior yield and, most importantly, great management at hedging and proper MBS selection, to secure our position in a new HARP environment that the administration will, no doubt, employ, as the November elections draw closer.
I will not be surprised at new legislation and/or new Fed policies going forward to prop up this woeful, economic House of Cards as November approaches. I mentioned the same in my communications.
I am now seeking a broader base to continue my proselytizing. I think I missed my calling. I wonder if I can get a kick back from Gary Kain...wait I'm Long AGNC/MTGE...I already have...;-)
As always I wish us all much happiness and success...