I know how those flies feel now. You know, the ones that smell the honey scent from Venus flytrap plants.
I’m not just full on amREITs, I’m stuffed.
Having already gone overweight, imagine my distress (or maybe you just have to check your own emotional state) as the group took a pounding,, with the cheapest ones getting pounded the most.
To make matters worse, the hedges continued to head south today, with the SRS double inverse REIT ETF and the double inverse financials ETF (SKF) heading down, too.
I know the amREITs aren’t the main part of either index, but if there were any justice in the world, the forces that are slamming the valuations of the mortgage REITs (including private label and commercial, too) must be affecting the real estate itself and the financial companies.
These are financials. They are REITs. They pay a higher dividend and trade closer to or below asset value than most of the other financials or “equity” REITS.
I suppose I could just figure out how to move some more money into the brokerage accounts and take advantage of the bargains.
The problem is, I know that it’s possible to go broke buying these bargains, and I don’t want to find out how that feels this time.
Instead, I’ll just hold what I have and look on with envy at the new money that gets into these babies at prices quite a bit better than my recent cost.