The fund with the non payment of dividends from BP due to the oil spill was looking for a high income stock and came across Chimera last week, together with 9 other US REIT companies that all yielded over 10%. We signed up with the company to receive news from the company and were most impressed by the response this arriving yesterday - Company Release - 08/02/2010 16:05
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Q2 - NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (NYSE: CIM) today reported Core Earnings for the quarter ended June 30, 2010, of $142.8 million or $0.19 per average share as compared to Core Earnings for the quarter ended June 30, 2009, of $48.9 million or $0.10 per average share and Core Earnings for the quarter ended March 31, 2010, of $127.9 million or $0.19 per average share.................
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The fund had thought of setting a limit of $3.82 but noting the strength the day before decided not to set a limit. You really can never purchase at the bottom and the plan should the share price move lower would be to average out over the next year. Yahoo´s 1 year Target Est: $4.38
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The fund had made the mistake in 2008 of investing in Pink Sheet shares on which is is now showing losses on all except Superclick Inc (SPCK.OB). This one it had picked itself the remainder on the suggestion of an analyst who produced a very convincing argument for example to purchase NCTW.PK / PBOF.OB / UITA.PK / VSPC.OB. The fund thought medical stocks would be a good bet in 2008 and went for ADOV.PK & AIDA.PK but they have not performed as hoped. By going for income shares now in the US we may try and "average out" at a later date in these Pink Sheet stocks with the dividends so that we are not involved in currency exchange.
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Q2 - NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (NYSE: CIM) today reported Core Earnings for the quarter ended June 30, 2010, of $142.8 million or $0.19 per average share as compared to Core Earnings for the quarter ended June 30, 2009, of $48.9 million or $0.10 per average share and Core Earnings for the quarter ended March 31, 2010, of $127.9 million or $0.19 per average share.................
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The fund had thought of setting a limit of $3.82 but noting the strength the day before decided not to set a limit. You really can never purchase at the bottom and the plan should the share price move lower would be to average out over the next year. Yahoo´s 1 year Target Est: $4.38
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The fund had made the mistake in 2008 of investing in Pink Sheet shares on which is is now showing losses on all except Superclick Inc (SPCK.OB). This one it had picked itself the remainder on the suggestion of an analyst who produced a very convincing argument for example to purchase NCTW.PK / PBOF.OB / UITA.PK / VSPC.OB. The fund thought medical stocks would be a good bet in 2008 and went for ADOV.PK & AIDA.PK but they have not performed as hoped. By going for income shares now in the US we may try and "average out" at a later date in these Pink Sheet stocks with the dividends so that we are not involved in currency exchange.
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Chimera has the body of a mortgage real estate investment trust (REIT), but its head is that of its external manager, FIDAC (Fixed Income Discount Advisory Company), a fixed-income investment management firm wholly-owned by Annaly Capital Management. Formed in 2007, Chimera invests in residential mortgage loans; residential mortgage-backed securities (RMBS), such as those guaranteed by government agencies Fannie Mae and Freddie Mac; real estate-related securities; and other assets, including collateralized debt obligations, or CDOs. The REIT went public in 2007, shortly after it was formed.
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http://finance.yahoo.com/q?s=CIM
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