Stock版 - 全仓无脑爆乳WLT,AIG,GNW,NCT,APA,DRYS |
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g***c
发帖数: 11523 | | w******7
发帖数: 1079 | | i*********n
发帖数: 5465 | | h***2
发帖数: 2351 | 4 NCT的主营业务是曾经臭名昭著的CDO，CDO怎么又忽然变成香馍馍了呢？有哪位大牛，
能帮助解释一下？ | H**********1
发帖数: 3056 | | i*********n
发帖数: 5465 | 6
1. as long as government bails it out...
2. as long as default rate decrease
【在 h***2 的大作中提到】
: NCT的主营业务是曾经臭名昭著的CDO，CDO怎么又忽然变成香馍馍了呢？有哪位大牛，
: 能帮助解释一下？
| m*****i
发帖数: 4342 | 7 This is very complicated. Basically, NCT was booked CDO at its market value
and booked its underlining liability at face value. So that really depressed
the book value for NCT, over the last several years, NCT's management was
able to buy back these liability at fiction of its face value.
Currently, NCT has three main sources of income.
CDO/Mortgage related investment
Senior Housing
MSR
MSR is very low risk and higher return. They will spin off this business to
share holders. Some of their earlist investment yielded around 20% with much
better persistent rate.
Word of Cautious: NCT is the best performance REIT stocks since 1/1/2012,
today it hits another 52 weeks high(more than doubled if you factor in the
dividend). Stock price is very close to its true book value(around $10).
Investors needs to take extra cautious when they invest in this REIT | i*********n
发帖数: 5465 | 8
value
depressed
to
much
minncai big cow, what do you think of AGNC and NLY?
thank you
【在 m*****i 的大作中提到】
: This is very complicated. Basically, NCT was booked CDO at its market value
: and booked its underlining liability at face value. So that really depressed
: the book value for NCT, over the last several years, NCT's management was
: able to buy back these liability at fiction of its face value.
: Currently, NCT has three main sources of income.
: CDO/Mortgage related investment
: Senior Housing
: MSR
: MSR is very low risk and higher return. They will spin off this business to
: share holders. Some of their earlist investment yielded around 20% with much
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