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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend
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To: Paxb2u who wrote (2392)2/28/2003 1:43:50 PM
From: bob wallace  Read Replies (1) of 2561
 
Peter

know that you wrote James, but I am having good luck with the junk bond closed-end funds. eg DHF PHF CYE.

Also have some foreign bond closed-end such as SGL (euro bonds) and EDF (Brady Bonds) - FAX (Asian and Australian bonds) is flat. the foreign bond funds are of course plays on the falling dollar.

FAX is the low payer at 8%, the rest range from 10% to 16%

I did buy some AXM because that particular mortgage REIT is already beaten down - however, NLY, ANH and others are not on my buy list until at least one of them reports earnings and dividend for 1st Qtr -my thought here is that the continued decline in mortgage rates will hurt the mortgage REITS through continuing refinancing.

I do not buy property REITS or preferreds

Bob
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