One position that has been prominent in many portfolios this year is (NLY) or Annaly Capital. The investment has worked out quite nicely but recently we decided to lock in profits on this high yielding mortgage REIT. The reason that we exited was because of the expectation that more borrowers will refinance at lower rates, which will pressure the dividend yield, and eventually rates will go higher putting NLY at risk for a loss of principal. Here is an article that came out today http://seekingalpha.com/article/315480-avoiding-annaly-capital that I feel adequately describes the thought process in a little more detail. Thank you very much and please let me know if you have any questions whatsoever!
INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.