NRZ is being helped today by the fact Jeff Gundlach is talking up mREITs again saying they are his #1 pick right now for where to be invested. an mREIT index I track (REM) is up a nice 1.13% on a down day. NRZ does tend to rise and fall with this group even though it is a non standard mREIT.
Also, the earnings were not that bad at all. Not a homerun but certainly not a strikeout. Steady as she goes it seems. :-)
wow, tough board! I for one am interested in how the mortgage servicers are doing since NRZ generates a lot of business with them, be it OCN, NSM, perhaps not so much WAC. Don't folks want to know if Ocwen is having an up 25% day or down 25% day? Don't shoot the messenger, just trying to post some helpful info.
I hold OHI and VTR which were both up along with other medical related REITs like HCN and HCP. If treasury rates start heading down again the stronger REITs may outperform other equities.
Also, goes without saying most any bond fund did well today. Hold TLT, IEF, VGIT, BND, LQD. Higher quality US bonds (including munis) should continue to do well as long as overall market sentiment is fading.
Wrong. Rebar is up because China gamblers have gone coocoo for coco puffs in bidding up a whole #$%$ ton of different commodities over the past month, and using leverage to do so. Not to mention China inflated its balance sheet by over a trillion the first few months of the year in order to stimulate its economy some more which all went into development.
Now that China is cracking down on commodities investment amongst the populace, commodities like rebar are falling again.
I'm trying to figure out why VRX is rallying. Is their market strategy even still viable in continuously levering up to do more M&A? It is like a shark that must keep swimming or else perish.
Getting ugly out there for the mortgage servicers. They exist only to get the life sucked out of them by the endless government agencies + the lawyers.
All well and good, but how could US treasury pay the interest on the continuously growing debt if yields were to ever go back to normal times? (5-8%)
This is a global game of thrones being played out in real time the past few years and will continue for the next few. Some players will be falling by the wayside.
Back down to $91 on so called earnings miss, revenue miss, blah blah blah. Still pretty good all things considered, but today's market is not so forgiving unless you sell electric cars or host cloud services.
He also said how worried he was about the global state of the markets (and oh yeah, he also happens to be quite short equities!). Like you said, totally talking his book.
I'm not feeling any pain. The topic of the post was concerning short interest on MLPs. It is my opinion that commodities are not done being sold off yet. Right now though is the eye of the hurricane where things seem very calm and placid. Once the eye passes, one gets the 2nd half of the hurricane before things truly improve again. Oil is on a tear, but let's check back in 4-6 months and see where it is at. I think oil will be back towards low $30s.
Also, why S&P, Dow, Nasdaq are all back close to all time highs, the average stock is still down quite a bit from ATH. Again, just looking at MLPs (which the post is about), most all are still WAY off their highs, even after the sector has bounced higher by quite a bit. I do not think somebody holding a big slug of KMI or ETE is shouting hallelujah from the rooftops!