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Archive of entries posted on 16th October 2012

Game’s over. QE3 (or is it QE4? or QE5?) killed the mortgage REITs

OK. I screwed up. I should have sold all my mortgage REITs when they started tumbling. The market is obsessive. If it likes something it bids it up irrationally. If it doesn’t, it takes it to the woodshed and beats the living daylights out of it. That’s what happened in the last few days with […]