You will never understand those who buy with no intent to sell. The sunk cost is just the price of admission to a string of income. So sale? No problem!
I've posted this here before, but it's like our house. We paid $245K for it and it went to $800K. Did we sell? Heck, no! It is our house, our home, and what it is worth on the market means nothing in comparison to what it means to live here. That's like the stream of income from the sunk cost.
Then it went down to maybe $275. Should we sell? Heck no, it's our home! Now it is worth maybe $450. What does that mean? Something to our heirs, I suppose, but nothing to us.
PHK is not that different. If you bought it cheap, what need to sell? What reason? It gives off a stream of income, which will hit 120 unchanged dividends in a few months. That's what the holders look at.
The market price means zip, zero, nada.
You can rail all you want about a cut, and I will not disagree all that much. Except that I will believe it when I see it, because if that was the intent, it would have happened far sooner than now...............Dave
You know Dave, only a moronic fool could fail to see the logic behind holding on to a cash cow.
Of course there are those who refuse to admit the truths you state.
It does not fit the agenda of leading sheep to blindly sell, in order to create a profitable trade for them self.
The more things change, the more they stay the same.
Mean while my vig on pgp, is exceeding the hefty distribution. (Idiots shorted just prior to the announcement, stupid does stay stupid. Interestingly enough little dannyboy is touting the superiority of that dim witted play)
PHK vig is small, because anyone with a functional brain, has bailed out of short positions.