There are buys out there. M-Reit's who cut dividend and are building or stabilizing book value. One of my favorites at 11 cents a share, last December 13, 2012, when no one was buying and there were no buy bids. Bimini Capital Management (BMNM). If you bought this at .11-.12, it traded at that for weeks, you could have gotten out at the top at $.44/sh for a 300% or now for 109% gain, currently trading at .23/sh. You have to look at valuation and their mortgage convexity, these people realize how big you can loose betting on 0% to infinity. They learned their lesson the hard way, but now this is how you want to trade these, look for prices so low that they can only go one way, UP.
Dr Klumps, I thought you were trash before - but wow - I didn't think you were that stupid. You really are going for the pump and dump now! How many shares do you own of BMNM? your entire account worth 100 shares?
BMNM used to trade in 2004 $152 per share, 2006 $ 80 and in 2007 1.80 per share. Just like CIM going down in value only at CIM they returned all capital as dividends rather than any true income, mostley. BMNM just took all the money in management fees. BMNM is a big waste of effort now slowly evaporating from management fees and will soon be gone. That is why BMNM started ORC Orchid Island Capital, Inc so I think they can do it all over again it appears to be a pattern where management gets paid but investors do not? I would not touch either stock BMNM OR ORC OR CIM if they gave it to me free with a cup of starbucks. CIM is the reason I do not own NLY. NLY charges CIM or rather their group does for external management 33m a quarter. They are well paid by CIM to loose money for investors as CIM started at $20 a share 2007 and is at $3.03 after you subtract all dividend from CIM for that $20.00 IPO you do not have any profit. CIM looks like it got an interest free loan from investors. BMNM DID NOT EVEN PAY BACK THE LOAN! When any stock has a history of ripping off investors. The new investors say that was then we will make money now? Good luck with that.