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Strategies & Market Trends : STOCKS WITH ATTITUDE TEAM - FA/TA AND EVERYTHING ELSE
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To: Redhead who wrote (1706)3/15/1998 9:28:00 PM
From: Bonnie Bear  Read Replies (1) of 2377
 
redhead: just picked up your post on RWT-and REITs-
there are a few spread lenders that make their money on variable-rate mortgages...RWT and thornburg (TMA?) are seriously oversold. They will suffer if interest rates continue to drop to 5.5% or lower, but can double to 40 if the feds raise rates. So RWT is best as an interest-rate hedge bought with other investments. I just bought a utility income CEF so I'm buying RWT as a hedge (after staring stupidly at it since 19)
If you want a nice REIT for your portfolio look at FSN, below book and great dividend, but watch the bid-ask spread on the puppy. Also look at Pan-Pacific. There's another- a south american REIT heavily owned by George Soros, can look up the name if you're interested. Don't buy Cohen and Steers mutual funds because they are overinvested in hotel REITs and they're likely to suffer. Their funds are so huge they have no choice.
REITs are at a 40-60% discount to the market- an excellent time to buy.
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