I for one had come to expect a 2.75 dividend this quarter. The enthusiasm of the most knowlegable posters had me convinced that that was a conservative estimate, and it probably was, but when I saw the payout, my first thought was uh-oh this could precipiate a selloff...little did I know. That wasn't all, but it seemed to be more than a nudge along with the negative reporting of economic macro news...nothing like 25 points though. Fear won.
HHill and others keep posting information on securitizations, building the portfolio, income stream...the high probabilty of growth in earnings years in future quarters. Please interpret the securization number when it arrives soon.The portfolio/securitization growth needs to be understood in explanation of dividend growth which seems to many TGTBT.
Psychology and the fear factor are currently the shorts' long suits. Our long suits are HHIll and Dirty and many others who contibute to understanding how NFI works.
Many traders were hurt here. See TEI board. Compelling, informed people convinced others that everything was rosy as hell and that the sky was the limit. This is a rather complicated business which BD, HHill and Dirty understand...leading to their frustration in trying to teach what they know.
Newbies got sucked in to fear...traders bailed for profit, etc., an avalache. It was a buy at 75.