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Msg  16104 of 16167  at  11/24/2023 12:05:46 PM  by

patterj


 In response to msg 16103 by  passandshoot
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Re: RITM

I've bought and sold RITMpD a few times over the past two years with my usual strategy of buy high, sell low. I should be in the black after the next distribution.
 
I own a little bit, less than 0.3% of net worth, of the common. It is out of character for my usual investing style. RITM is selling well under book value. However, RITM is a company that is becoming more complex and with more moving parts at a dizzying pace. I'm probably in over my head trying to understand it. That is seldom a good move. I consider this pure gambling on my part.
 
The CEO, Michael Nierenberg, appears to be a bright and ambitious individual. He has quite the resume. He was accused of some shady business at Bear during the great financial crisis. I'm guessing that RITM will probably make out well in distressed MSR and commercial real estate markets.
 
 
I was totally out of REIT investing until recently. I bought  some O on the last dip and also bought a gaming REIT, GLPI.  
 
patterj
 


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Replies
Msg # Subject Author Recs Date Posted
16105 Re: RITM rlp2451 2 11/25/2023 6:57:47 AM




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