Background
During the first quarter of 2016, I went on a shopping spree. Following a collapse in valuations of regulated investment corporations (RICs) I bought many beaten-up names, especially within these sub-segments:
- Business Development Corporations ("BDCs"; BIZD, BDCS)
- Mortgage REITs ("mREITs"; REM, MORT)
- Equity REITs ("eREIts"; VNQ, IYR)
Things turned around very quickly, and prices of the purchased stocks went up sharply. Despite temporary pauses here and there along the way, the following year was nothing short of spectacular.
The A-Team was officially formed on March 31, 2016 -