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Five Oaks Investment Corp. Message Board

  • hhires hhires Jun 20, 2013 4:02 PM Flag

    Great Start!

    I'm the first post and it's the day the bottom has really fallen. Bought at 12.96 thinking it was a deal and it closed at 11.97. What a welcome!

    Sentiment: Buy

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    • I just bought yesterday, as well, at 13.17, only to see it drop another 1.20 the following day.
      These M-Reits are really going through an old fashioned panic selloff. Credit Suisse report on OAKS, available to Schwab account holders, suggests that OAKS should be much better protected against rising interest rates that most. The reason being, Oaks is targeting 75% Non Agency paper, with much lower leverage, as compared to the typical hybrid M-Reit with only 10% Non Agency.
      This could be a nice buying opportunity, amidst the chaos, but tread lightly. I plan to buy more after the next earnings report, if it appears to be stable. Also check out PennyMac PMT. It's beginning to look oversold, and I think their management knows what they're doing.

      Sentiment: Strong Buy

      • 2 Replies to whatdoyouthink88
      • what, unfortunately they parked the assets in 30 year agency RMBS and then hedged about half the borrowings used to fund the purchases . . . in other words, so far, they got pretty much everything wrong . . . I suspect they were hoping to wow investors with a those big dividends but instead they destroyed book value, which probably sits at around $12 as I write

        bad luck or greed, you decide . . . most of my MREIT money is in DX which was the laggard for years because of their conservative positioning but now is the belle of the ball

        anyway, nice to have some company in my misery on this board

      • I'm a Schwab account holder also and took their recommendations to heart. Today was more like a knife in the heart. I have to take the blame for this one, though. I bought in pre-market hours...never again!!

5.88+0.04(+0.68%)Jul 28 4:02 PMEDT