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Alpine Global Premier Propertie Message Board

  • booseisloose booseisloose Dec 26, 2007 12:58 PM Flag

    Great opportunity

    The question on this CEF is whether or not management bought too early in subprime mess back in late July and early August. Recent management buying would indicate that management does not think so. Listening to the conference calls it is obvious that the subprime issues did not catch these guys completely off balance and they had some idea of the scope of the situation back in the summer. The fund has no debt, management has not missed a dividend, ever, the exposure to residential is minimal and there is no direct subprime exposure. The recent declines must be attributed to tax loss harvesting. With the fed cutting rates an 11.7% yeild is very attractive in an asset based fund selling $2 below NAV. I bought at 18 and although I need a tax loss I will be looking elsewhere and doubling down on this fund.

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    • If you are going to double down, at what price would you go in. This here is just off the 52 week low of $12.70.

      I will going in a little before 4pm today as I think it is real close to a bottom though not quite yet. I am not going all in but rather in pieces and today will be one piece.

      If you are in at 18, a double down here will get you to around 15.50 real quick overall.

      Just a thought as I am still very leary of the RE market overall but like the yield here.

      • 1 Reply to lastcavalier_2000
      • Opened a position just before closing at $13.28. Will be adding based on what I read from here on and this Board's input.

        This IPO'd at $20.00 on 04/26/07 and has been going down since but still paying the $.1267 dividend monthly. At this PPS the yield is about 11.4%.

        I think it is a good enough yield to start to accumulate in hopes of possible mid year 2008 RE firming. Therefore I'm playing for Divi with a side bet on some capital appreciation.

        Input welcome.
        Also looking at AOD RTU EOD EDD. Already have AGD and ADVDX in the Alpine family. No positions in others , yet.

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