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Cornerstone Strategic Value Fun Message Board

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  • t4two45 t4two45 Jul 31, 2007 4:02 PM Flag

    CLM at $4.39 NAV?

    At the rate of decline in NAV in your example, the NAV should reach zero in about 12 more distributions. We'll check back in 12 months to see how everyone is doing. Good luck all!

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    • I actually think that CRF will crash first. It trades at a higher premium and it has less assets under management. Unfortunately, i can't borrow the shares.... CRF will go down first, and CLM will follow shortly after people realize that CRF is not coming back.

      Stacy, you're saying imagine what would happen if S&P500 stayed flat... I say imagine if there was a real prolonged correction! We just saw S&P lose 6% of its value in a matter of days, imagine if we had 10-20% correction over an extended period of time (like a year or two). These things happen once or twice every decade. We haven't had one since 2003, and we might be due.

      Having this bad boy short ensures I don't lose much sleep at night. I'm not as worried about the rest of my overall portfolio, even though this housing scare sure is worrisome.

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