Kicking myself for being too slow to get 18.17. RATS!!!! Bid-ask was 18-19 when I was ready to press enter and there were only 300 shares on the 19 ask. I don't chase a rising price. That policy cost me today.
Right after open with price getting away from them, it looks like shorts attacked nrf in unison. We'll see if buying momo is too much for short capital. I think we end up decently green.
I tried to buy a flip lot at 18.17 (giving me 9% ex div if wrong) but was too slow at the keyboard. So, I lowered my limit buy just in case the shorts have enough ammo to do it again.
No surprise to me nsam did not announce dividend last night, same as nrf. Gotta make nsam look like its not a clone/puppet of nrf. Will nsam announce dividend tonight? If they want 11/6 ex and 11/14 pay, they probably will.
But a dime is peanuts. No market moving news there. NSAM price is stuck in the mud. It's gunna take big news to move it and that ain't a dime dividend. A stock buyback authorization included in the dividend announcement would be big news because the shorts would never know when nsam would step into the market.
Announce both tonight or put it all in earnings release? If in earnings release, ex date and pay date will be a week to 2 weeks later than nrf. I think that is ok with nsam as it puts separation between them and nrf. Besides, they collect their nrf fee for October around 11/20. Paying dividend at end of month gives them the prior month's fee in cash before paying dividend......helps the cash flow.
Don't know whether it's tonight or in earnings press release. I used all the ira cash I had to buy nsam this morning just in case buyback is announced tonight. Don't really care if pop comes tomorrow or next Thursday as long as it comes. RXR deal ready to launch helps, but run rate unknown. NSAM has to move the needle off 66 cents. If it doesn't come by earnings announcement, imo, it won't come until March.
Was a great earnings report. 4Q per share down due to early issuance of shares for ALL acquisition.
If they are correct about 5% to 8% accretion from ALL portfolio, 2015 will be a great year. I was thinking 3 cent dividend increase in April. Now I'm thinking 5 cents.
With 11/6 as the ex date we are now 12/13 (weeks) into accretion x 40 cents = 36.9 cents as of today. I suggest using 40 cents for easy eyeball adjustment.
1.60 / 9% = 17.78 + .40 = 18.18 or less today to get 9% or more on your purchase price. You can bet your mother's wedding ring that Hamo is grinding his teeth over the low price. Not only is his cost of capital way too high, the number of griffin shares to be issued depends on the price.....the higher the price, the fewer shares issued. With the vote on 11/28 enabling a closing on 12/1, Hamo has one shot to get the price up.....earnings and the cc on 11/6. I expect him to go as far as legally allowed to pump the price.
Just bought another 2,722 nsam in an ira @ 17.4855 ('cause that's all the cash I had there).
IMO, much bigger pop on nsam with earnings than nrf.
Registration of griffin share issuance effective, so no sec hurdle to merger. Amended proxy on merger filed yesterday. Looks like final. You get your notice soon. Meeting 11/28 to vote.
I vote electronically via Fidelity which notifies me on the website that an open proxy can be voted. Real easy as Fidelity links directly to ballot on proxyvote website.
Told ya. And the dead cat did bounce. Let's see 8.67 to 10.00 is a 15.3% bounce from 30% down.
But, ya gotta have the guts to press the button while everybody else is selling like panicked lemmings.
No guts, no glory (or dinner trades).
KMP has blown my tax plan out of the water. I have no chance of avoiding all the socialist pig's surtaxes. It is better to make money and pay the tax than not make the money.
Like the crude saying goes, when rape is inevitable, relax and enjoy it. I just have no way of getting agi below the thresholds, so I'll take what's handed to me and pay the tax.
Just bought another flip lot in nrf at 17.7001.
Forgot to add. Wait until price turns up meaning selling done. You give up some off the bottom, but you don't catch a falling knife.