Annaly Salvos
Well I have been busy and have not had the time I wish to put in some new blog post but I wanted to let everyone know about a new link on the website. It is titled “Annaly Salvos”. This Blog is sponsored by a company known as Annaly Capital (NLY). In my personal opinion these are some of the sharpest guys on Wall Street and some of the most ethical. Believe it or not they are a mortgage REIT (Real Estate Investemetn Trust). Most of these have gone bust in the mortgage meltdown but Annaly Capital was the exception to the rule and in their quarterly reporting they pointed out the problems developing in the mortgage industry. They stayed away from the toxic assets and their REIT has paid excellent dividends even in through very trying market conditions. As a matter of fact now they are doing great with a portolio of excellent mortgages and a very cheap cost of capital to buy those mortgages. Now I am not here to promote the company but those of you wanting more insite into the future and the capital markets you will find this blog very interesting.
As some of you know I am of the opinion that until the consumer works off their mound of debt things will stay real soggy in the overall economy. In particular such things as residential housing will not expereince any meaningful appreciation until that debt is worked off. This blog deals not only with that subject but how all of that interplays with corporate and government debt. If you want to understand the background and context of our national economy this is one of the best blogs you can read.