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Great Northern Iron Ore Propert Message Board

  • spacecasebase spacecasebase Mar 2, 2012 6:51 PM Flag

    I have played/owned GNI for years

    Here is the deal guys. The shorts re-run the same basic article every few months, even though it is technically true about the Trust ending in 2015, THREE YEARS FROM NOW. They short the shares, scare the crap out of people that don't know what's going on with their game, drop the price 20-30 bucks, people notice what's happening with the volume and decrease, then the company announces the dividend, the longs pile in for the killer dividend, the shorts cover, we all make money. The problem is that the shorts assume the longs are idiots, and plan on being in this for the next 3 years (I will be out before the dividend because the run-up beats the dividend). But the shorts have unfortunately ruined a very nice company and stock with their scare tactics. They are not doing their civic duty by calling attention to the end of the Trust in 2015, they are frightening shareholders for their own gain, and it is a sad quarterly occurrence. What will you be invested in in 2015? I have no idea, do you think anyone does?

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    • I have worksheet B on 44 shares I have not sold on 2011:
      1/ Interest income: 1.06
      2/ Rental income: 1.66
      3/ Gain from sale: 510.84
      Register record holder: sum l1, 2 &3: 513.56
      4/ Certificate Amortization deduction: (949.17)
      I do not figure out:
      **Form 4797: what date sold on form 4797 col.c because I still keep it and what is amount will I report on col.e & f?
      **Form 8949, I have col. f was (952). What is the code of col. b and col.d date sold, col. e sale price and col. g adjustment to gain or loss.
      Please, help me. Thanks.

    • Regardless how you look at this stock it is only worth dividents plus end payout, and it should depreciate every month for the amount of divy.
      Everything above that is give away.

    • Thanks for that, spacecase. I've also seen this kind of thing happen over at TNH in September.
      If you have NetFlix, watch he documentary about the Crash of 1929. It explains how journalists were paid off in popular daily tabloids, to write positive stories about the companies these groups wanted to foist onto an unwary and financially ignorant public. Similarly, today, anybody can write and publish any stock-oriented article for free in Seeking, in the innocently intended "spirt of helping"... in most cases it seems to do the reverse, in this case, and then get cheaper shares based on recycled old news. Not trying to promote the possibility, just saying the documentary shows what's old is new again. Watch it and judge for yourself any other similarities to today. Anyway,... everybody who ever deals with the stock market should get familiar with the topic at least a little, in my opinion.
      Isn't now the best time to buy here with the March dividend announcement coming up?

      • 1 Reply to coolnesski
      • yes, Cool, I agree, on all fronts. I have watched this happen to TNH, for some reason people think what SeekingAlpha publishes is unbiased journalism (not like CNBC could ever be accused of pumping up the market, but that's for another day...) and the similarities between now and 1929 are frighteningly similar. If anyone were to really look at the crash of '29, much of the losses were regained, and the bulk of the downtrend came in '30-'32 if I remember correctly. We are going to be repeating that IMHO. Nonetheless, yes, I believe now (yesterday, today) was/is the time to buy on GNI. The buying came in the last time 'round about 93 as well, and the distribution should be announced next week I think. Best of luck.

    • I've owned GNI since 10/22/1974, or at least that's the date of the Great Northern Iron Ore Properties Trustees Certificate of Beneficial Interest that I have. I'll be out of it before 2015. Currently I own MSB which as of now at least one of beneficiaries is still alive, or at least he was on 12/28/2011 because he posted on the MSB board at this web site.

      • 1 Reply to winslowm22
      • The problem is 2012 is much closer to 2015 (when the fund liquidates) than 1990 was for example. That is why people are starting to unwind their positions. Noone in their right mind will buy this come 2013 or 2014 for its dividend payout if the price remains at $120, but of course there is ample room for irrational exuburence. The price has to come down dramatically in line with the remaining dividends to be paid plus final payout. Additionally, the company said (perhaps conservatively) that 2012 is not going to be as good at 2011 so there could be pressure on payout ratio as well. I do not hold this -- it just came to my attention as I was reviewing the 52 weeks lows and doing my due diligence. Rationally, I would not put my money on it until it came down another $30 at the least.

    • Amen poster, ive been there long time also. Made lots of good money on the fantastic dividends, 2012 should be another good year.

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