A Deeper Look Into Annaly And Chimera

By Neal Razi: At then end of March, I wrote an article detailing an opportunity in Annaly Capital Management (NLY), the well respected

By Parsimony Investment Research:As if the second consecutive delayed filing wasn't enough to make Chimera Investment Corporation (CIM) investors a little squeamish, the company also recently announced that it has fired its auditor.

By Cris Frangold: We all know that investing in mortgage real estate investment trusts (mREITs) is not for the faint of heart. Well, there's one mREIT that seems to be riskier and perhaps more unstable than most.

By ValueMax:Annaly Capital Management (NLY), a familiar name to income investors, invests in agency MBSs issued by Freddie Mac and Fannie Mae. Annaly consists of 5 subsidiaries and maintains close business ties with Chimera (CIM) and Crexus (CXS). Chimera trades around $3 and Crexus is trading near $10.

By Parsimony Investment Research:In general, we are still bullish on mortgage real estate investment trusts (“mREITs”), particularly agency-focused mREITs. We think the current economic and interest rate picture is positive for mREITs. A weak economy is actually a good environment for mREITs, which benefit from low interest rates and a steep yield curve.

By Parsimony Investment Research:Founded in 2007, Chimera Investment Corporation (CIM) acquires and manages residential mortgage-backed securities, residential mortgage loans, and real estate securities. Chimera is a real estate investment trust that is externally managed by FIDAC (Fixed Income Discount Advisory Company). FIDAC is a wholly-owned subsidiary of Annaly Capital Management, Inc.

By Zvi Bar:On Thursday, November 10, 2011, Chimera Investment Corporation (CIM) filed with the SEC that it would not be able to file its 10-K quarterly report for the third quarter within the prescribed time period.