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TRADE #22 - Buy FB 100s @ $34.74 in Roth IRA

Contributed by mm | January 13, 2003 07:08 PM PST

I bought 100 shares of FB (FBR Asset Investment Corp) @ $34.74 with a commission of $14.95 in Fidelity Roth IRA account I just funded. This is my first established position in my Roth IRA account and I have high expectations for it.

FB is an MBS REIT (Mortgage-Backed Securities Real-Estate Investment Trust). It borrows money with short-term interest and buys ARMs from the MBS market. With high leverage of its equity (~7x), it can deliver high rate of return with relative low risk in a declining-interest market. It current pays a quarterly dividend of $1.25, or a yield of 14.4%.

I also researched other players of MBS REIT including NLY and TMA. However, I found NLY is not hedging its positions so it is prone to massive loss if interest rate suddenly runs higher. TMA has much higher leverage rate but delivers approximately same yield as TMA, which means higher leverage means more inherent risk.

FB is in a merger discussion with FBR (an investment banking company that also manages FB as a REIT fund). It's hard to say if this is positive news for FB or not. However, the current high yield should not be materially impacted by the merger.

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TRADE #21 - Sell MTG 100s @ 43.10 in Datek (Backlog for December 4, 2002) (January 05, 2003)
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Read More ... 44 Posts In The Same Category

01/28/05 | TRADE #44 - Sell TALK 290s @ $6.29 in Roth IRA

05/25/04 | TRADE #43 - Buy WDMH (QQQ Jan 06 $34 Put) 1000s @ $3.50 in Roth IRA

05/24/04 | TRADE #42 - Buy MO 50s @ $45.04 in Roth IRA

04/15/04 | TRADE #41 - Buy WDMG (QQQ Jan 06 $33 Put) 200s @ $3.00 in Roth IRA

04/06/04 | TRADE #40 - Sell OCA 500s @ $8.65 in Roth IRA

03/23/04 | TRADE #39 - Sell RJR 100s @ $58.02 in AmeriTrade

03/09/04 | TRADE #38 - Buy YWZMD (QQQ Jan 06 $37 Put) 600s @ $5.20 in Datek

02/03/04 | TRADE #37 - Buy TALK 290s @ $10.36 in Roth IRA

01/21/04 | TRADE #36 - Buy ZMFME (MSFT Jan 05 $25 Put) 1,000s @ $1.35 in Datek

10/31/03 | TRADE #35 - Sell CI 100s @ $56.291 in Datek

10/09/03 | TRADE #34 - Short Cover AMZN 200s @ $58.089 in Datek

09/22/03 | TRADE #33 - Buy FDP 148s @ $25.94 in Roth IRA

06/13/03 | TRADE #32 - Sell FTHRX 241s @ $11.03 in Roth IRA

05/22/03 | TRADE #31 - Sell S 300s @ $27.91 in Datek

05/19/03 | TRADE #30 - Short AMZN 200s @ $32.87 in Datek

05/08/03 | TRADE #29 - Buy OCA 500s @ $6.68 in Roth IRA | (2)

05/08/03 | TRADE #28 - Sell NTBK 200s @ $11.68 in Datek | (1)

05/06/03 | TRADE #27 - Sell FBR 365s @ $12.20 in Roth IRA

04/22/03 | TRADE #26 - Sell RJR 120s @ $34.06 in Datek

04/16/03 | TRADE #25 - Buy OCA 1,000s @ $4.76 in Datek

03/18/03 | TRADE #24 - Buy RJR 100s @ $33.64 in AmeriTrade

01/14/03 | TRADE #23 - Buy FTHRX 235s @ $10.69 in Roth IRA

01/05/03 | TRADE #21 - Sell MTG 100s @ 43.10 in Datek (Backlog for December 4, 2002)

01/05/03 | TRADE #20 - Buy S 200s @ $20.01 in Datek (Backlog for November 13, 2002)

01/05/03 | TRADE #19 - Buy MTG 100s @ $39.50 in Datek (Backlog for November 13, 2002)

01/05/03 | TRADE #18 - Sell MSFT 30s @ $28.50 in Datek (Backlog for November 4, 2002)

01/05/03 | TRADE #17 - Buy CI 100s @ $35.50 in Datek (Backlog for October 25, 2002)

01/05/03 | TRADE #16 - Buy S 100s @ $25.85 in Datek (Backlog for October 23, 2002)

01/05/03 | TRADE #15 - Buy RJR 60s @ $41.80 in Datek (Backlog for September 27, 2002)

01/05/03 | TRADE #14 - Buy RJR 60s @ $47.80 in Datek (Backlog for September 23, 2002)

01/05/03 | TRADE #13 - Buy PPD 140s @ $18.25 in Datek (Backlog for August 2, 2002)

01/05/03 | TRADE #12 - Buy NTBK 200s @ $10.20 in Datek (Backlog for June 26, 2002)

01/04/03 | TRADE #11 - Buy PPD 140s @ $27.75 in Datek (Backlog for April 1, 2002)

01/04/03 | TRADE #10 - Cover Short QQQ 80s @ $37.82 in Datek (Backlog for November 6, 2001)

01/04/03 | TRADE #9 - Short QQQ 80s @ $34.84 in Datek (Backlog for October 23, 2001)

01/04/03 | TRADE #8 - Sell MSFT 35s @ $70.22 (Backlog for June 14, 2001)

01/04/03 | TRADE #7 - Sell EBAY 20s @ $61.75 in Datek (Backlog for June 12, 2001)

01/04/03 | TRADE #6 - Sell EBAY 50s @ $51.25 in Datek (Backlog for April 30, 2001)

01/04/03 | TRADE #5 - Buy EBAY 70s @ $34.50 in Datek (Backlog for March 13, 2001)

01/03/03 | TRADE #4 - Sell BYND 20s @ $8.44 in Datek (Backlog for February 15, 2001)

01/03/03 | TRADE #3 - Buy BYND 300s @ $2.22 in Datek (Backlog for May 10, 2001)

01/03/03 | TRADE #2 - Buy MSFT 20s @ $65.00 in Datek (Backlog for April 24,2000)

01/03/03 | TRADE #1 - Buy MSFT 25s @ $90.50 in Datek (Backlog for April 3,2000)

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