When does the panic end? When do rational investors step in and bring the share prices up to at least book value?
Sentiment: Strong Buy
Rationality has little to do with making money in stocks. It is what the tape shows you - i.e. Reality.
The dividends are real. The market is very irrational in the short term. But this very irrationality can be taken advantage of if you buy during panics and sell during the euphoria.
...good question! But what is book value at this point?
book value 6/1/13 $19.25