Jack is correct; rates should remain at near zero; lets hope she is confirmed. This Benghazi incident is a foreign affairs issue and should have nothing to do with business. Ms. Yellen is qualified for this position. BTW, I predict .90.
I have read that the dividend was being maintained @ .90. I can't see the sell off personally but am adding some more to average down. Stock is oversold
Seems the biggest losers today are AGNC which as I understand it is invested in agency REITS. In addition, you have a FED meeting coming up today along with other problems, namely the clowns in Washington that we send up there to "help" us. I went to all cash during the shut down and am waiting this out. There are going to be some nice bargains to be found once the AGNC smoke clears. NYMT is at the top of my list with a target of $6.00 for a entry point. This stock has been kind to me over the years.
I think the board for AGNC is O.K. in it's present form. The real nuts are over at the Ford (F) board, take a look at it, a master piece if one is into mental masterbation.
Is this SPAM??? While I like EFC, I have sold out temporarily to see what our elected clowns do in D.C.
Fellow shareholders, a sad state of affairs. Whatever ones politics I would just like to make a brief commentary as to market reaction to the "crisis" mentality that grips the markets when we send Kiddies to Kongress. One of the nicest profits I picked up was during the last "crisis" back when Gingrich and President Clinton got into a rear kicking kontest. Keep in mind that 17 years ago 50% of the government was funded and "exempt" from the shut down. This "crisis" may be worse and therein dear readers lies opportunity. If EFC were to drop in price I would add some more and average down. I vividly remember picking up Ford stock and making 6% after two weeks.
As to practical matters of business, my used car & body shop is very close to a military base and while our troops are getting paid all the civilians will be laid off. I finance my own cars as most southern car dealers do and today I received a few frantic calls from retired members of the military who will not be able to make their scheduled payments on the first. We are giving everyone a "pass" as my customers are not at fault.
CHUTZPHAH !! - definition: (1) unmitigated affrontery, impudence; gall. I learned this word from some fine Jewish businessmen who taught this goy the joys of Yiddish. This word comes to mind when I think of 535 members of both bodies of Congress; while they deprive so many of their constituents of income and services we have paid taxes for, THEY continue to PAY THEMSELVES!!
Anyway, as a used car dealer on the same corner for 30 years I still suffer all the "jokes" about used car dealers. When I think back upon the Pinto, Vega, Chevette, Renault, AMC, GM diesels and many other automotive "sins" both mortal and venial (it's a Catholic thing) I can at least hold my head high. I WAS NEVER A MEMBER OF CONGRESS!!
Yeah, $24.85 as of August 31st! Still oversold imho. Nice discount to book.
Sentiment: Strong Buy
Here is a stock that I think still has room to grow and still believe it is "oversold" due to Mr. Cramer and fear of tappering which imho is a red herring. I have been adding more shares to my portfolio and am ready to pay my quarterly property tax on a commercial building thanks to the dividend this stock provides. You know, a lot of people go on about risk etc. However, I tend to look at EFC at these prices as a investment instead of a trade. O.K. there is volatile conditions in the mREIT world. Having said that, the world will not end with an uptick in the 10 year T.B. which drives mortgage rates.
Today the book value was announced and I remain optomistic. One thing a lot of skeptics who have lost some hair during the mREIT blood bath is that EFC generally provides a nice EOY "special dividend". Why would anyone buy a POS like NLY (Cramer's favorite "pump") when they can receive a nice discount to book along with a nice return. I am also kicking the tires but have yet to pull the trigger of AI, any thoughts?? Neither are mREITS from a IRS point of view but deal in the same type of securities and are not burdened with a lot of red tape.