From the category archives:


Fortress Investment Group Fails To Knuckle Newcastle Preferreds

March 29, 2010

Newcastle Investment Corp., (NCT) a Mortgage REIT managed by Fortress Investment Group, will continue to contribute management fees to FIG’s income statement for at least another year. But whether NCT makes it out of 2010 is an another question. Newcastle is suffering from a host of balance sheet issues, including a portfolio full of CDOs […]

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REIT Preferreds: NCT Says Location, Location, Location

December 19, 2008

Boy did I make a mistake, and it was with real money. When Wes Edens stopped bothering to show up for Newcastle’s earnings calls, I should have realized what was going on. Sure he had purchased a bunch of NCT stock earlier in 2007, but with whose money? He had taken Fortress public just a […]

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Newcastle’s High Yield Going Higher?

August 27, 2008

The gap between the perception of the risks in mortgage debt and the actual risks is now the exact opposite of where it was just before the credit crunch began. Let’s see, there are a few positive things happening out there and I think I need to write about them before my prescription runs out… […]

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