AIC News and Press, Arlington Asset Investment Corp 6.750% Notes due 2025 From 03/12/23

2023-03-12 06:35:19 ET Summary We take a look at the action in preferreds and baby bonds through the first week of March and highlight some of the key themes we are watching. Preferreds have remained resilient even as upside inflation surprises weighted on other fixed-income secto...

Summary Slash to 11% or 12% incoming. Shares already dipped some, though many investors don’t know about the cut yet. Looking at the financials, it was clear the dividend would get whacked this year. Some peers are also poised to cut for 2023. Disagree with my techniq...

Summary The income market has rallied strongly over the past couple of months. We highlight securities that have lagged the rally and offer an opportunity in the current environment. Many of these securities can also remain resilient in case markets hit a bump in the road this year....

Summary Big unsustainable yield at a premium valuation. This share isn’t for investors, it’s for suckers. The valuation is at historically high levels. People who keep holding onto shares are not investing. Losing money isn’t the criteria for being an investor. ...

Summary Similar shares at different valuations are the basis for alpha. The research is so hard, it requires adding dividends or looking at a chart. Who cares about the difference between 3.7% and 14.26% to 17.6%? We do! Get ready for charts, images, and tables because t...

Summary We take a look at the action in preferreds and baby bonds through the first week of January and highlight some of the key themes we are watching. Preferreds had a terrific start to the year, supported by lower Treasury yields and higher stocks. Many beaten-down stocks fell o...

Summary We own shares in all three picks. Up to 33% upside to book value. Some peers trade above book value. Dividends were steady. The only dividend reduction in the batch was less than 5%. Get ready for charts, images, and tables because they are better than words. The...

Summary These three REITs got much too cheap in October 2022, but they rallied too hard. Take the money and run! Shares are up 33% to 52%. They deserved a rally, but not that much. We're not always bearish. We recommended one of these shares within days of the 52-week low. G...

Summary We're contrasting two sets of investments where one is demonstrably better than the other. Market prices are not efficient. Sometimes investors leave a nice chunk of change on the table. We look for those opportunities to optimize investments so we can be positioned for some...

Summary 2022 was a tough year for income investors, with large drawdowns and few places to hide. We discuss some of the key lessons and takeaways of the year. These include how to think about bond-stock diversification, using countercyclical allocation, the concept of opportunity co...