I put on a long call position in NLY two months ago, and have been watching the position ever since. I discussed the position in a COO post a little more than 2 weeks ago, …
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I bought a call position in NLY on Oct. 1st with a twofold thesis: 1) NLY was trading near its all-time low Price / Book ratio, indicating a good fundamental value, particularly since long-term rates …
Continue readingTreasuries have found their footing again over the past week, rallying back to near the highs of the year. Long-term Treasuries remain in an uptrend: While Treasuries have moved higher, we don’t have a strong …
Continue readingIt’s no secret that utilities and REITs have been two of the best-performing sectors in the market this year. They’ve been highly correlated to rates, generally rallying when rates moved lower as investors added high-yielding …
Continue readingHere is a quick recap of all of the trades that we initiated, closed, managed or expired in the week that was Feb 18th – Feb 21st:
Continue readingThis past Friday I detailed my thoughts on NLY in a Deep Dive post (below), following news that the company’s COO and Co-Chief Investment Officer were resigning. In that post, I analyzed the details of the …
Continue readingAnnaly caught my attention this morning when I saw the headline that the COO and the Co-Chief Investment officer were both resigning from the firm. That would be major news for any company, but more …
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