Is This A Good Time to Buy NLY (Not For Typical Reasons)?

By thelongshorttrader What did NOT got me interested (i.e. the usual bulls’ spew):

• It’s cheap on a __ and __ basis.
• Dividend yield is ___.

What got me interested:

• Yesterday’s announced dividend cut  appears to have been less worse than the street expected (or was it?).
• NLY shares are down ~30% in 2013 (counterpoint: down does not mean cheap, nor does down mean it can’t go down further)
• Many of the NLY promoters from earlier this year (both the smart and not-so-smart) have been thoroughly humbled and humiliated. I love these kinds of situations (which doesn’t mean shares cannot decline further).
• A cursory examination of the NLY historical stock price seems to show that very negative down years tend to be followed by positive years. The...
  

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