(cache)The High Yield Desert

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Summary

I frequently discuss high-yield sectors like mortgage REITs, BDCs, and preferred shares, emphasizing the importance of knowing when not to buy.
Preferred shares have rallied above targets, reducing buying opportunities, while common shares offer higher risks. Some offer upside, but others mostly offer downside.
I'll kick off the weekend by highlighting one with a high valuation, as investors pay top dollar for earnings that are about to melt away.

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I've frequently written to investors in the high-yield sectors about mortgage REITs, BDCs, or preferred shares.

To be fair, I'm also known for posting quite a few bearish ratings. Some people don't like that, but I think it's just

Symbol	Last Price	% Chg
AGNC	10.49	-0.66%
AGNC Investment Corp.	Post. 10.55	0.57%
RC	7.97	-4.55%
Ready Capital Corporation	Post. 8.06	1.13%
PMT	14.26	-0.83%
PennyMac Mortgage Investment Trust	Post. 14.42	1.12%
BXMT	19.83	-1.98%
Blackstone Mortgage Trust, Inc.	Post. 20.03	1.01%
MAIN	50.00	-0.20%
Main Street Capital	Post. 49.96	-0.08%