When the pricing is announced I will wait a couple of days and IF this 'winner' goes down in price I WILL ADD SHARES TO MY POSITION. Going forward this is great news in that CIM is buying distressed property at GREAT prices. "Down the road" this strategy will pay off with huge dividends. OBAMA and his cronies will be voted out of office and AMERICA will (once again) be on a POSITIVE, constructive path to prosperity.
I have a FULL position now but will take the opportunity to buy more shares at a distressed price due to 'people with a very short-term"
"OBAMA and his cronies will be voted out of office and AMERICA will (once again) be on a POSITIVE, constructive path to prosperity."
Hint to you bozo - take a look at unemployment tables between bush's last years and Obama's time in office. Then look at the performance of the stock market during that span. We have been on a "POSITIVE, constructive path to prosperity." ever since we kicked Bush and his toxic waste cronies out of office. You are further proof that tea partiers have the intellect of a toad.
Bush inherited a $200 Billion surplus and ended up with a $1.3 Trillion deficit and a near economic depression. ALL of that done by Bush and a republican congress. Where is the outrage about that? It seems that there is selective reasoning going on here. Ignore the source of the problems and blame it on the guy sent in to clean up the mess.
Under Bush's first term and a half the republicans held the executive, legislative and judicial branches of government. The republicans had everything their way and the mess that we are in is ALL their doing. If you care to dispute that show me some actual facts and not assumptions or opinions. But the absolute truth is that for 6 years the republicans had complete and total control of the US government and what we are going through now is their legacy.
Bush inherited a 4.2% unemployment rate, left a 7.6% unemployment rate which due to the recession/ near depression he left for Obama was expected to rise to as much as 10.5 to 11.5%. It peaked at 10% under Obama for one month and dropped to 9.7%
Bush inherited a $200 billion surplus and left a $1.3 Trillion deficit
Bush inherited healthcare as 14% of GDP and left with healthcare as 17.3% of GDP (according to a study done by CMS and reported by TIME magazine)
Let's not go into detail about the waste that was / is the Iraq war and the estimated $2-3 Trillion long term costs of it (all of which will end up on in our deficit),
How about the @#$%&! up that was the Federal Gov't response to Katrina ( and the fact that 3 years earlier the US army corps of engineers sent in a report and request for funds stating that the levees in NOLA were seriously in need of repair, Bush called the project "Pork" and refused the request. Guess what happened to those levees?)
I have to give the Obama and his Cronies post a 0 star. Only someone very shortsighted would think that the current present is responsible for the current situation. It takes years for policies enacted to have a impact, usually that time is 1-2 presidential terms later. Bush inherited a nice setup, from you got it, Clinton. Same thing with the former Bush. I hate democrats, and republicans equally, but in the past 20 years, it seems to be Democrats cleaning up Republican messes. Short sighted individuals blaming the current president for the mess, and next term around a nother republican being voted in to FUBAR the situation up again. I really hate the two party system.
"Constructive path to prosperity" You mean like the last few months of Bush's preidency when his laissez fair handling of the banks (sec} got us into this mess. What short memories some of us have. Brooks.
And just one more comment. This country is more DIVIDED that ever in its history. OBAMA in his election campaign said he would "unite" the parties. What a complete joke! In short (real short) let's just see how the FALL 2010 elections will come out. I predict you "wide-eyed" liberals will LOSE both your majority in the House and the Senate.
Both of you, save your dumb@ss political discussions for another board. You will never sway anyone on politics or religion. You're both just spewing the garbage each side has convinced you is correct. Statistics can be manipulated and interpreted to prove anyone's point. Keep on topic.
First, after seeing how CIM opened this morning (above its' pre-market action) I BOUGHT shares at $3.78 and looks good at the moment. Second,
I want to tell you bumbass liberals I am an conservative independent. I'm not a BUSHY but a REAGANITE. I voted for Bush for appointment of conservative judges (which he did) AND decent
President as Commander-in-Chief (not the best but decent). But REAGAN was my example as a GREAT PRESIDENT. You DUMBASS liberals could only select CLINTON (the "intern chaser" - all in their teens getting blow jobs in the Oval Office), OBAMA (the 'anointed one" who is decimating this once great country), and JIMMY CARTER (the peanut farmer who was just that - a peanut)....Of course, I could, also, name LBJ
but I think you DUMBASS LIBERALS get my point.
Have a great day, you idiots! And, in the meantime, I am enjoying another prosperous day no thanks to your liberal leaders....
Please tell us how Obama is decimating this "once great country" and be specific...I agree that Reagan was a great president and I agree that Clinton was a big "Dick Head" as far as his personal life and setting a morale example as President of the United States but as far as administering his responsibilities as president he turned over a budget surplus to simpleton Bush who in turn created a huge budget deficit and the then turned over an economy to Obama that was on the brink of collapse. Now the Dow is pushing 11,000 and it was around 8,000 or so when Obama took office. So explain what Obama is doing that is so wrong and what he should be doing instead!!!
So "you DUMBASS liberals could only select CLINTON". I don't disagree but then the counter goes "you DUMBASS conservatives could only select BUSH". Let's get over it and get on with this country's business.
We thrive when liberals and conservatives work together and suffer when they don't. Consider what Thomas Jefferson (a liberal in his time) accomplished when working with John Adams (a conservative in his time); the Declaration of Independence and the US Constitution. Consider what happened a few years later when they fought; the Duer Panic in 1792, the Burr-Hamilton duel, and the war of 1812.
I wonder how Ed really feels? As far as Obama is concerned he has deviated very little from what he said he would do during his campaign. Regan had the same follow through. Remember the Evil Empire? The Libs hated him but he turned out to be correct. (Also a little lucky) Don't worry about the deficit Obama will do exactly what he said he would do and raise taxes. He doesn't second guess himself like many libs. Have a good Holiday!
In the short term, you are right about CIM. As a REIT, it cannot retain earnings. This public offering covers the dividends it paid out over the last 2 qtrs. Non-REITs would issue a smaller dividend and grow using retained earnings. So if you use your dividends to purchase new shares, it will not dilute your position and should not substantially change the stock price. Personally, I think the correct yield for this position is between 10 and 12 percent so CIM should be closer 6/shr than 4.
In the longer term, i.e., when O'bama leaves office, CIM's risk/reward becomes more challenging. CIM's business model is to borrow short and lend long. A decline in the slope of the yield curve will reduce CIM's profitability. The Administration's stimulus efforts are keeping long term interest rates high while the Fed's monetary policy is keeping short term interest rates low. Changes in either the Administration's fiscal policy or the Fed's monetary policy will reduce the slope of the yield curve and CIM's profitability.
Bottom line, I agree with your conclusions but if O'bama is replaced with a fiscally conservative administration sell CIM quick.
That "hopey changy thing" is working out great! My stock portfolio was negative $48K the last day of Bush on 1/20/09. It's now positive $101K as of this minute. Let's see, that's up $149K under Obama; so I'll take Sister Sarah's "hopey changey thing" any time! Obama/Biden 2012!
<The man is clueless and we will pay dearly.>
I say you are clueless....
A. Repealing the Glass Seagull act in 1999 which was a huge mistake (Perhaps Clinton's biggest mistake) and a major factor in the near destruction of our financial system and near collapse of our entire economy. Regulation must be put back in place to separate the banking/lending part of financial institutions from the investing/speculating part of their business or we will just have a repeat of what occurred in 2008/2009.
B. Clinton did have the proper tax structure in place which contributed significantly to turning over a budget surplus to Bush and Bush's tax cuts for the wealthiest went a long way in creating huge budget deficits. All Obama has planned on, is doing away with the Bush tax cuts for the wealthiest which will take us back to the tax structure that was in place when Clinton left office.
C. Obama helping the unions???...are you nuts??...I have not seen anything that Obama has done yet that has helped the unions...the unions have never been weaker than they are right now in over60 years....if anything Obama has fell short by helping out Wall Street by bailing them out with our tax payer money which he had to do to avoid the total collapse of our financial systems which would have plunged us into a 1930s depression but he has yet to reinstate the proper regulations to insure that we do not have a repeat.
>>Clinton did have the proper tax structure in place which contributed significantly to turning over a budget surplus to Bush
You need some econ training.
It was the Clinton surplus that pushed the borrowing onto the private sector. It was that higher leverage in the private sector that then caused the recent credit crisis to be so severe.
Deficits are zero sum. A surplus in one sector is offset by deficits in another. You can see it happening right now. The federal deficits are offset by the surplus in the private sectors.
You likely will not understand but this is the way it works.
It's a good strategy that I've used before. Though I found the correction steepest the day of or after offering. And of course, the most discounted shares avail then.
If you have confidence in the dividend and company prospects, it's the smart thing to do. If you have doubts maybe just wait for recover of the price.