PV, I seem to remember you noted SOR when you suggested some income producing stocks a while back. I picked up the clue and have been looking at it. I once owned ALD, which looks like sort of the same thing. (SOR is organized as a closed-end fund?) Anyway, SOR has just pd a Q div. of a buck, and it looks like it usually goes down a bit when that happens. Any insights into the stock or suggestions about when to buy (it's for an IRA acct.)?? thanks in advance, nicho
Hello Nicho, I have held SOR for at least eight years. Most of our investment was acquired in the $42 to $50 price range and I have no plans on board to sell SOR as it continues to produce nicly for us. In answer to your inquiry, Nicho, Id wait for a serious downturn in the market to Buy. The price often drops after they pay their dividends, but it takes a severe market downturn to depress this equity, say 20 percent or so. However, it will happen and that is when I would pick-up it up. I know that this long term wait and watch approach does not fit for many. For us, though, collecting a dividend while watching our capital decline is not acceptable. Some of us have been on that highway.
SOR is more like a capital management company than a Fund, imo. The CEO, Mr. Eric Ende and their fixed income investment officer S. Giest have both accomplished a superior investment track record and SOR tends to retain their investment selections for a long period if they produce as expected.
Thanks, PV for the insight into SOR. I think I will wait to buy on a significant drop as you suggest. Your input on this board, along with others, is always worth listening to. I can tell you speak from experience. Thanks, nicho