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I say Friday's action shows a measure of uncertainty among the major funds. The big bugaboo now is when interest rates go up putting a damper on hedging. The end of free money is coming.
Yeah, a whole lot of uncertainty for those institutions that snapped up those 16 million shares knowing they were paying a premium to NAV.
You know nothing, short term interest rates will remain low for the rest of this year and into 2012. Investors agree with this as they continue to pile into all offerings made by MREITS. Big fund money continues to gobble up each and every offering.