BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Chasing Value: Annaly Capital Mgmt -- from watch list to buy]]>http://www.bloggingstocks.com/2008/12/17/chasing-value-annaly-capital-mgmt-from-watch-list-to-buy/http://www.bloggingstocks.com/2008/12/17/chasing-value-annaly-capital-mgmt-from-watch-list-to-buy/http://www.bloggingstocks.com/2008/12/17/chasing-value-annaly-capital-mgmt-from-watch-list-to-buy/#commentsFiled under: , , , , , , ,

It was only a couple of days ago I posted Serious Money: What's on your watch list? suggesting you had to be ready because you never know when an opportunity might arise to acquire a value proposition.

Then yesterday the market was up but sluggish in anticipation of Federal Reserve chairman Ben Bernanke possibly announcing a cut in the overnight rate, so I pulled the trigger on the one stock I could get at the right right price that was the most interest rate sensitive.

  • Annaly Capital Management (NYSE: NLY) is one of the stocks mentioned in Fortune Magazines "Ten Promising Stocks for 2009" and is currently paying almost a 15% yield at Friday's closing price of $14.92. The company borrows money at short term rates and only invests in long-term Federally backed mortgages. They have avoided subprime loans and derivatives entirely.
I bought NLY for $14.80 per share locking in at an actual yield of 15.01%. Sure enough, Bernanke slashed rates to the bone letting the rate float from 0% to .5% and the DJIA jumped finishing the day up several hundred points, while Annally closed at $15.84, one of my big gainers for the day.

Continue reading Chasing Value: Annaly Capital Mgmt -- from watch list to buy

Chasing Value: Annaly Capital Mgmt -- from watch list to buy originally appeared on BloggingStocks on Wed, 17 Dec 2008 14:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AnnalyannalycapitalmanagementBenankeChasing ValueChasingValuefeaturedFederal ReserveFederalReservehigh yieldsHighYieldsNLYREITSSheldon LiberSheldonLibervalue stocksValueStocksWed, 17 Dec 2008 14:58:00 EST