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Disclaimer:

The Longfellow Letter is not a recommendation to buy or sell stocks. Risks inherent within trading include flash crash, algorithms, front running, slippage and human error. The stocks presented may be of interest to students of the market, or active traders assuming their own risk. The author may have positions, or active interest in any of the stocks mentioned. Theoretical P/L is not calculated, and is dependent upon exit timing, commissions & charges.

Prologue:

A quote by Walter Benjamin, German critic and philosopher, from his 1940 essay “Theses on the Philosophy of History"

A Klee painting named Angelus Novus shows an angel looking as though he is about to move away from something he is fixedly contemplating. His eyes are staring, his mouth is open, his wings are spread. This is how one pictures the angel of history. His face is turned toward the past. Where we perceive a chain of events, he sees one single catastrophe which keeps piling wreckage upon wreckage and hurls it in front of his feet. The angel would like to stay, awaken the dead, and make whole what has been smashed. But a storm is blowing from Paradise; it has got caught in his wings with such violence that the angel can no longer close them. The storm irresistibly propels him into the future to which his back is turned, while the pile of debris before him grows skyward. This storm is what we call progress.

Issue #13, Semptember 13, 2017

Interesting Stock of the Week:

Manhattan Bridge Capital, Inc. (LOAN)

Price: 5.90

Own a little piece of Manhattan, or at least help fix it up. The "images from the field" tell it all, in urban reno fashion. Our watch of the week is a small lender for the New York area, (location, location, location.) Excellent 5 year growth; dividend yield of 7.07%; volume by price shows good support.

All loans secured by first mortgage lien on real estate.

The average apartment price in Manhattan hit a record $1.95 million in January of this year.

Quote: "Since commencing this business in 2007, we have never foreclosed on a property and none of our loans have gone into default, although some have been renewed or extended to avoid premature sale or refinancing of property."