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  • lmtrack lmtrack Aug 17, 1999 3:22 PM Flag

    a different kind of investment now?

    PZN is somewhat 'shopped out' by the traders.
    More investors, fewer traders should stablize price,
    and replace some of the 20/20 hindsight with patience
    and calm confidence. Am I living in Disneyland, or is
    this a realistic possibilty?

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    • I think your analysis is right on, especially the
      conjecture concerning how the whole Strategic Investor thing
      might play out. I've expressed similar concerns in
      recents posts.

      One correction though, I've heard
      from several people qualified to know that to remain
      within the REIT requirements, PZN can't lower the
      dividend any lower than ~$1.90-$2.00.

      I think
      there's a good chance that we will in effect be holding a
      junk bond disguised as a stock until more things
      become clear with the SI, success in getting the new biz
      and a couple of quarters of earnings.

      • 2 Replies to RetiredPaperman
      • First, thanks to baltbear and RetiredPaperman for
        your correction of my mis-statement (ok, call it what
        it was, a screwup) on the lowball estimate for
        fy2000 divs. I am hardly ever guilty of being too
        conservative with #s! :-) Maybe I'm just getting gun-shy here.
        As for you, tmacker....Ok, maybe Beta has a more
        specific technical mathematical definition than I was
        aware of. Just call it 'fuzzy downside potential' or
        simply 'risk' or 'uncertainty'. I used it (maybe
        wrongly) to represent the great scary unknowns out there
        that make PZN more speculative then, oh, say laddered
        zero-coupon treasuries. (oh, gee, did I say that: with all
        the interest rate gyrations lately, and half the IC
        trying to out-guess AG, maybe even widows and orphans
        need to bury some platinum bars in the back yard?)
        Nope, I don't claim to know what your 'n' is. Some
        things are not amenable to prior calculation. As far as
        'perceived risk' is concerned, is there any other kind? I
        seem to remember a semi-famous quote from FDR on that.

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