Annaly Capital Management
NLY
position
long
Jim Grant
Thesis
Annaly Capital Management is a mortgage real estate investment trust that trades at 83% of book value and yields 11.4%, making it a reasonable risk for income-seeking investors.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time horizon for the thesis, it's difficult to assess whether the investment thesis has played out. The thesis suggests a favorable valuation and yield, but without knowing how the stock has performed or any developments in the company's fundamentals, we cannot draw a conclusion.
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