Without economic news and without any new major announcements from the new administration it is starting off as a quiet day in all markets.
Jobless claims came in at the area of the forecast so nothing new there. Everyone is waiting for the ‘official’ government employment numbers tomorrow.
Today, I am looking to buy something. I think my best bet is to review current positions and add a bit to one or two of them. Already having positions gives me a bit more comfort, although I don’t want to get too overweight anywhere—Ican’t just hang out tweedling my thumbs.
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Tim–What happened to the notification button when you post something new…
Tim, I would be curious to know what your max position size has evolved to for any one issue over your years of experience.
RITM released what i thought were impressive earnings in the current environment…….long RITM/PRB (Floating at high coupon but callable) …long RITM/PRD……Added to both moments ago
It’s difficult to predict the future, but I think RITM-C does better than RITM-B if they are called in less than 4 years. It’s not technically floating yet, but it’s past the last fixed ex-div. RITM-C is $24.76 with a .59 div, while RITM-B is $25.08 with a .63 div., each with about .04 accumulated. Being lower, it’s also slightly less likely to be called as soon. Of course, they haven’t called either yet, so maybe you’re right and the better bet is to assume they never will.
Oops, that should have been 2 years instead of 4. 8 quarters at 4 cents difference per quarter to close the 32 cent gap in price.
Eyeman-
Thanks! I added To RITM-B on Tuesday. Also own -C and -D.
I am hanging out and feel no need to do much, despite having piled up some cash. Studying/watching and a bit of de-risking is my plan for the present.