From the monthly archives:

April 2008

CMBX Shorts Start to Unwind, Yields Dropping

April 5, 2008

Gobs of Fed Grease Moving To Mortgages, Offering Lubricious Relief Hedge funds that had been aggressively shorting the CMBX market on the basis of the superficial similarities with the ABX (subprime housing related index) unwound some of their short positions last week. Spreads on all the CMBX indices continued to come in, and analysts at [...]

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Even Ben Stein Loves REITs

April 5, 2008

TORONTO — The beaten-up REIT sector got a ringing endorsement last Wednesday from Ben Stein, the author, actor and economist best recognized for his role as the humourless high school teacher in Ferris Bueller’s Day Off. “I’m buying all [the REITs] I can get my little paws on. These are God’s gift to retirees,” Mr. [...]

More on this topic (What's this?)
Safe, Stable, Consistent and High-Yielding (Wealth Daily, 4/3/12)
4 High Yield REITs To Consider (Investment Underground » Page n..., 3/7/12)
Armour Residential REIT: Wait For A Pullback (Investment Underground » Page n..., 4/8/12)
Read more on Real Estate Investment Trust (REIT) at Wikinvest
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High Yield Mortgage REITs Still Look Safe, But Stick to “Seasoned” Veterans

April 4, 2008

This may be no country for old men, but it’s definitely no market for little boys. The headlines on February’s mortgage delinquency numbers were either negligible or somewhat alarming, depending on who reported them and the comparisons they were using. The biggest surprise in all the data was the increase in multifamily delinquencies, which is [...]

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Dividend Investing Misconceptions (Dividend Growth Investor, 4/18/12)
4 High Yield REITs To Consider (Investment Underground » Page n..., 3/7/12)
Dividend Investing is not a black or white process (Dividend Growth Investor, 2/15/12)
Read more on Office REITs, Dividend Investing at Wikinvest
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Lack of CMBX Transparency Draws Industry Scrutiny

April 2, 2008

International Trade Association Requests Release of Daily Trade Volume; Calls for Greater Transparency in Trading Data. Last week, in move that may be at least partially responsible for the nearly 150 basis point drop in the AAA CMBX Index, the Commercial Mortgage Securities Association (CMSA), requested that trading data on the CMBX Index, including total [...]

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Anthracite: High Yield REIT Spins Cash; Raises Capital

April 1, 2008

Attempting to mix a fouler sounding alphabet stew than that being served up by Mortgage REITs these days is pretty hard work. They invest in CMBS and MBS, mostly by issuing CDOs, sprinkled generously with swaps, derivatives and repos. Add it all up, and you’ve got the ingredients that helped cook up what the New [...]

More on this topic (What's this?)
Anthracite: The Silent Bailout? (Mortgage REIT Journal, 4/7/08)
Safe, Stable, Consistent and High-Yielding (Wealth Daily, 4/3/12)
4 High Yield REITs To Consider (Investment Underground » Page n..., 3/7/12)
Read more on Anthracite Capital, Real Estate Investment Trust (REIT) at Wikinvest
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Is Commercial Real Estate Really Dead?

April 1, 2008

In September 2007, hedge fund manager Andrew Lahde of eponymous Lahde Capital, which had previously earned huge returns by heavily shorting the ABX, launched a new institutional fund to short commercial real estate via the CMBX. (Click here if you are a retail investor and want to know how to short commercial real estate). At [...]

More on this topic (What's this?)
Private Equity Finding Bargains in Commercial Real Estate (Value Investing, 2/1/12)
3 Commercial REITs That Will Make You Money, 2 That Won’t (Investment Underground » Page n..., 10/12/11)
5 Reasons to Invest in Commercial Real Estate (Guest Post) (Wall Street Sector Selector, 10/1/11)
Read more on Commercial Real Estate at Wikinvest
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