I was fortunate to trip across this little pig at roughly 45% of book value. I doubt it gets there again. But one thing is clear. These guys ain't so good at running a bond portfolio. Lots of excellent names in the sector to choose from. I thought ARR was truly the all time worst. These knuckleheads may be close.
tool. still on mommy's computer? must be tired of surfing kiddie porn
Maybe he's just a little kid on Mommy's computer?
please post your name and address. Phone number would help also. You are a danger to yourself and others. Let me call 911 for you.
Gosh...you must have the ability to see the trades in the after hours. Haha....what a dope.
I am somewhat new to NRZ although I now own a decent chunk. I worked with Mike N for many years and would invest in anything he does. You mentioned EARN which I also own (I own others as well), so I'll mention their sister EFC. I have owned EFC for a long time. The guys at Ellington are extremely smart at what they do. When I was in the business Mike V was one of the stars. Like Mike N. EFC is not legally a REIT and thus a K1 is filled. But they have lattitude to do a lot of very smart investing and hedging that REITs might not be able to do. They do eat a lot of their own cooking. As they do with EARN. I really like the fact that they report a BV monthly. The transperancy is second to none. On one of the presentations you can see that the BV has been pretty stable. My one mistake was not wanting to pay taxes on gains when they were trading well north of BV. Since then, like all mREITs they've gotten crushed. Interestingly NRZ is trading just below BV while EFC is trading right around 80% of BV. Both great companies.
Well if you've collected dividends, it's virtually impossible to have a 20% gain on price. OAKS went public in 2013. It traded up to the mid 15s. For the next couple of years it wandered down to 13s, 12s, 10s. In mid 2015 it traded down 11ish to 5.50ish. It double bottomed a bit below 4 in early 2016 and has since bounced. But as I've pointed out, it is impossible to be up 20% AND have collected dividends. Sorry.
We can expect earnings out today.
I've known Mike for many years. Worked with him for many years. Very few people are as honest or market savvy as Mike. Not to mention charaitable as well. I'd never bet against him.
Tell me how any REIT could possibly perform this badly. Reminds me of the idiots who run ARR. And Bimini before that. Just destroy shareholders quarter after quarter. That said at 42% of last reported BV I have to look. Somebody stop me.
This has clearly become a market where one sells anything they own. Regardless of price. I've been followiung this sector for many years. EFC reported a book value as of 12/31/15 as they report monthly. It's trading at less than 70% of book value now. Many/most REITs are in the same sort of eval.