Cramer Initiates A Positions In Annaly Capital (NLY) Today
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Although, Jim Cramer is on vacation, he initiated a new position in Annaly Capital Management (NLY:NYSE). Cramer has long been a fan of Annaly and, specifically, his neighbor CEO Mike Farrell. Cramer notified his ActionsAlertsPlus.com subscribers that he was going to buy 2,500 shares of Annaly today.
Cramer says CEO Mike Farrell is known in some circles as the "King of Mortgages."
Annaly focuses on the highest quality agency-guaranteed mortgages. Cramer believes Annaly will benefit from further short-term interest-rate cuts. He thinks NLY could trade through $20 in 2008.
Annaly currently has an attractive 7.5% dividend yield.
Cramer says CEO Mike Farrell is known in some circles as the "King of Mortgages."
Annaly focuses on the highest quality agency-guaranteed mortgages. Cramer believes Annaly will benefit from further short-term interest-rate cuts. He thinks NLY could trade through $20 in 2008.
Annaly currently has an attractive 7.5% dividend yield.
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