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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (76942)	3/3/2000 1:50:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Mike, MU may figure that the Goldman clients won't fall for the two year interest deferment option buried in the fine print so they had better chose another firm. -g- Mike

To: Knighty Tin who wrote (76942)	3/3/2000 2:37:00 PM
From: Thomas M.	Read Replies (2) \| Respond to of 132070

This is from Grant's Dispatch: "In 1999, the year of one of the worst bond markets on record, Annaly Mortgage Management generated a total return greater than that produced by the S&P 500 (22.7%, mostly through dividend income; in contrast, the S&P achieved 21%, mostly not through dividend income). In recognition of this feat of asset-liability management, Annaly (NLY on the Big Board) is currently valued at little more than book value. It yields 17 1/2%. Obviously, the stock market doesn't care about yield. Also, it is not inclined to overestimate the ability of Michael A.J. Farrell, 48, Annaly's chairman and CEO, to duplicate the 1999 result in 2000. Never mind that Annaly, organized as a real-estate investment trust and launched in 1997, has managed to dodge every interest-rate, yield-curve and credit bullet shot in its direction to date. Farrell, who gave the fund the name of the Farrell family's ancestral castle, calls it a yield factory." Any thoughts on NLY? Tom