WMC fell by amount of dividend it will pay with an equal fall in book value.
Why many or most do not think that 2.35 dividend was such a great deal- especially since WMC is forcing shareholders to (most likely) take all but 80 cents as new shares which also creates about 10% dilution.
I told people that dividend would NOT be cut until I bought. So I bought the day before the 2.35 dividend was announced. All I wanted was the regular 90 cents. And then we got the cut of the regular dividend from 90 to 80 cents and all the rest of this great news. Did I jinx this or what?