(GuruFocus, June 11, 2009) Investment Gurus at NWQ Managers
have recently initiated a new position in mortgage REIT Arlington Asset Investment Corporation (AI
), formerly Friedman, Billings, Ramsey Group Inc.(FBR
). On May 29, 2009, NWQ bought 5.6 million shares of FBR at the average price of $0.38 per share.
Arlington Asset Investment Corporation (AI
), formerly Friedman, Billings, Ramsey Group, Inc., invests on a leveraged basis in residential mortgage-backed securities (MBS), including collateralized mortgage obligations (CMOs), either issued by a United States Government agency, or guaranteed as to principal and interest by United States Government agencies or United States Government-sponsored entities. Arlington Asset Investment Corporation has a market cap of $70 million; its shares were traded at around $0.44 with and P/S ratio of 0.1. Continue Reading »