I liked your answer that you posted to the nattering nabob of negativism who thinks a drop in the pps for a while signals gloom and doom. However, you did make good mention that SLF was a very well run company.
The one question I do have, however, and aside from all of the global fears of Greece, Italy and Spain going in the tank, the eurozone collapsing, etc., is just what is causing the stock price to fall so fast so quick over the past couple of weeks. I can only hope that it goes back to $22 in the same amount of time. It still pays a good dividend. Thanks.
“and aside from all of the global fears of Greece, Italy and Spain going in the tank, the eurozone collapsing, etc., is just what is causing the stock price to fall so fast so quick over the past couple of weeks”
I think you hit the nail on the head. In general it is fear. Fear that the EU will collapse, that debt cannot be contained, and that the world is standing on the brink of another recession, or possibly worse: a depression.
If you stick your hand up to a dog and he mauls your arm, you will probably be very cautious next time you pet another dog. Similarly, the recession of 2009, and the ‘crash’ of the market is still fresh in many people’s memory. Investors are on edge.
Top that with the fact that 2-3 weeks ago, when all the talk of the “Not-so-super 1.2 Trillion debt reducing committee” was on a path to failure, all stocks began to slide. 14+ trillion in debt and these ignoramuses we put in office can’t put their differences aside for just a few weeks for the betterment of all Americans. I would say investors are losing confidence that politicians are going to do anything positive for our own economy. Similar to what happened with the August fiasco where they waited till the very last minute before raising the debt ceiling. If you recall, stocks paid a hefty price for that (Globally).
Other contributing factors could be: SLF quarterly earnings were terrible this QTR (and likely next QTR too) SLF was downgraded Nov 3 by Barclays