The Dividend has been reduced to the ACTUAL earnings generated by the fund, at the price as of 10:30 EST of 4 3/4 that equates to a yield of 11.37%, think you're kidding yourself if you think stock will go down to 4, think it will stabilize here, maybe move up a bit in the next month or two, then move based on actual market (interest rate) conditions. Welcome input on my comments, or comments from others.
Wait until the Olympics come to Australia this year and we see everything Australian in the news for two months. The legitimate inflows of tourism will generate hundreds of millions of legitimate strenth in Australia's economy and put IRON into its dollar! But moreover, the PERCEPTION will be even higher of all things Australian, increasing interest and demand for Australian investments.
The Aussie dollar will reach near-parity with the US dollar by the fourth quarter, and FAX will be a $10 stock.
And we'll be sitting around laughing at the fools that let us buy more at these levels.
i thought fax might drop to 4 1/2 but didn't think it would make it today. drop in aussie dollar today and cut in dividend was a double whammie. should hold here for a while. best of luck to the longs.
As someone stated with interest rates on the rise a 14% return should be the minimum an investor would expect on a foreign currency paying bond fund. Be patient and put in a good till cancelled order with your broker at the price you want to pay.
As interest rates continue to rise change your order to a lower price. At some point, probably on a high volume day somebody will throw in the towel and take whatever price they can get. BINGO you have your rate locked in. All of this presupposes that they don't reduce the yield again. Watch gold prices going forward and figure out the correlation.