I was not aware of TNH until you mentioned it, so my comments won't be worth much. The recent strong run-up in price appears to reflect the huge increases in nitrogen fertilizers by corn growers, responding to the high corn prices generated by ethanol production demands. I don't know how much more acreage can be converted to corn, so don't know if that price increase has topped out, but I would be reluctant to treat this as an entry point. From my personal standpoint, I don't like the inconsistent pattern of dividend payments. The current yield is certainly impressive, but it would require a younger and stronger stomach than mine to take or hold a position. Wish I had seen this two years ago. Good luck with it. Given the new energy bill, it could be that we will convert the entire us agricultural effort to corn to keep the SUVs running, and TNH will be the biggest thing of all time.
All financial stocks have been crushed, some have lost 70% or more. Though these companies continue to pay a dividend. Check out RAS AFN RSO, etc. Anything that loans money has been crused and will be till next year. Right now there is a lot of tax loss sales going on. Many people have made a lot of money in 2007 and need the loss to lower their taxes. In 2008 the buying will return. With all the help coming from the fed and all governments the economy will turn up in 2008.
There is a pool of stocks with low PE's high yields and moderate payout ratios. The high yield is based on Wall Streets expectation that the dividend will decrease. Some of these stocks consistently outperform the expectations of the "smart money managers" ACAS is one of them. At this point there are also a number of good growth/dividend plays among the dry bulk shippers.
Dry bulk shipping is difficult. Dry Ships stock cratered when it said it was getting into moving oil.
Diane shipping cratered from mid-$40s. If economy slows down the dry bulk shippers' rates will immediately feel it to extent that they maintain short term contracts.
"How many were fooled?"
Nobody was fooled. Some, like you, may have been foolish enough to buy an income stock hoping it would be a growth stock without any risk of a price pullback. There is no dividend hype about ACAS - it has paid and will continue to pay a handsome dividend to those who hold it. If you are not in a position to invest for income, you should probably be elsewhere.
"people including me have seen the principal crushed !!!! "
If you go back to Hawaii you can see pineapple crushed and we can be spared your whining.
My apologies to the good people of Hawaii in anticipation.