little Timmy , Frank, Dodd and Bennie and the jets say so since 'they" don't know what they are going to say no one else does. I still say green today and never trades a a discount anymore .. we shall see
I am amazed by the level of rationalizing you folks are doing to convince yourselves to stay invested in a fund that is trading at a 50% premium and which is being forced to deleverage in order to protect the precious dividend (i.e. they are destroying capital to keep paying an unsustainable dividend)
I have been short since $8 and will continue to stay short (assuming I can keep my borrow) until the longs realize there is no such thing as a free lunch.
Why dont you buy a CEF HY fund trading at a 10-20% discount right now...there are plenyt of them. Have you not lost respect for PIMCO yet!!!!!!
I'm with you Patty..this latest delay is just a blip and if it doesn't correct itself..AIG..then selling a 1000 preferreds will do it..the dividend money is there..it is just restricted by those stupid fund requirements...good luck...