Michael Cosgrove Quotations

There is a perception that energy is hot, and that there is big money to be made in the energy sector.

We are deeply grateful to our customers for giving us this recognition. We compete with some excellent companies everyday and to receive these rankings is an honor.

The portfolio decline was mainly a product of our desire to be opportunistic, and the spreads between mortgage-backed securities and agency debt were not conducive for growth. The tightness of spreads gave us fewer opportunities to grow.

A lot of the expansion this time is based on a legitimate need of the players to be in the market.