Bought shares of Hatteras Financial Corp. [[HTS]] , @$24.21—-for the egregious 17% dividend, of course.
This makes no sense, unless you believe in the tooth fairy and the U.S. governments ability to bailout everybody who gets their teeth knocked out.
HTS, being a mortgage REIT is at the center of all of what’s wrong with this country. It invests in single family ARMs and numerous toxic assets. Hence, it’s “Costanza qualified”.
Also bought a large block of Aqua America, Inc. [[WTR]] , @ $21. This is the largest publicly traded water utility in the U.S. with profit margins that are double that of its competitors. Geographically diverse and pays a decent dividend. Stop loss at $17.90.
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