Although I like this sector and would consider putting substantial money into NFI, I caution the ebuliant posters that 3 hours makes not a trend. There is just as great a likelihood that this morning's trading is part of a classic "head and shoulders formations" as the starting point for the next great rally in NFI. Let's try to avoid irrational exuberance. It only feeds the shorts' view of longs at lemings.
To put things in perspective I have been long 2,400 shares of NFI, which I have sold. As I mentioned in a recent post, I am ready, willing and able (unlike many posters on this board) to buy another 3,000 to 5,000 shares. I do not believe that this stock has found its bottom. Rest assured that I would never buy or sell a security to prove a point to anyone else. Not even confrontational posters like you. If you need to excise your frustrations, go beat something. Unlike many posters on this board, I have no interest in putting anyone down. It certainly wouldn't make me feel any more savvy. I would like to believe that productive boards are places where investors can share useful information and insights. Believe it or not, there is actually enough money out there for us all to make some. BTW, it is not a zero sum game.
If you are looking for ROE (return on ego) and you think that it will derived from harassing posters with opinions that differ from yours, you have bigger issues than any of us on this board are likely to be able to address. I try to keep it pretty simple, at the end of the month or year, do the statements say that I have more than at the beginning, and did I achieve this honestly.
Is there any evidence for those who are buying this for income that this is not a good buy???? I wish I had bought at 31 but 33.60 still gives me almost a 17% annual return. Managemnt stated that $5.60 was secure next year with the possiblity of specials.
The price may be volaile, but it is hard to imagine it going down much more and staying there as long as mangment can maintain a dividend in this range.
Since I am dripping I am not even that upset if the price does stay down in this range--just more shares next time around. In two years when I retire I will end the drip and hope to see a steady income stream.
Is ther some risk--yes--but the reward ration si very high and NFI being less than 8% of my portfolio I am very comfortble with this level of risk, counterbalanced by some boring tax free bonds in the 4 to 5% range.