Based upon investor relations at company, all good news fundamentally. Book value well up, estimating over 13.50 at this time. Same as last year, see charts, nice shake out scaring people to selling essentially dollar bills for 75 cents. All asset of CMO government insured mortgaged, can be sold in a second to realize book value. Great buy at ten, just like last year, when this occurred without any negative news.
Company is just a portfolio of 1 year adjustable rate federally guarenteed securities. There is no default risk and basically no interest rate risk, like a TIP treasury. Only risk to stock is irrational selling waves. Dividend is just essentially government bond payments that vary with short term interest rate, so totally secure with some up and down variation. Book value is just liquidation value of the government bonds, so totally secure. Sell away !!! Buy CAT !!