bailey, my "feel" for CRF is that its history has shown it trades UPWARDS from a 25% premium, and was as high as 50% recently-just before the RO.
More to the point; CRF should be held in "book entry" and enrolled in Cornerstones DRIP. Cornerstones DRIP reinvest your "Distributions" at NAV, unlike most Brokers that reinvest at the Market.
So with all the chat about have your money handed back to you,(GUILTY of this also), if your in the CRF DRIP you'll understand the TRUE meaning of "Total Return".
I might add I "feel" CRF will be BACK to near $20.- way before it gets to $10.- BUT due to the "Distribution Policy" of 21% CRF WILL get to $10.
You know what DD is......so do some more.
Big holding of CRF.
Might be putting some of that RO CASH to work at Apple.
BRK-A down 1.67% @ $197.590.00. Time for CRF to by MORE?
Oh My! So much CASH & so many deals.
CRF has the "DRY POWDER"; the RO CASH will be put to GOOD USE.
GOOG, another big holding of CRF. GOOG near the flat line, down ONLY 0.1%....MORE of that RO CASH being put to work at Google?
CASH from the RO....GREAT for CRF shareholders as many good stocks have been put on sale for CRF's recent CASH inflows from the RO.
Hate to see "Blood in the (Wall) Street....BUT
Agreed houtech, most people don't see ANYTHING past the "Distribution" Yield.
Take for example the comparisons & contrasts chat between CRF & CLM.
CLM holdings LARGELY other Closed-end Funds.
CRF holdings LARGELY Big Cap Blue Chip stocks, such as BRK.A @ $202,500.00 per share.
And let's not forget the contrast between the Brokers DRIP @ market, which includes the premium. And Cornerstones DRIP @ NAV with ALL MONIES reinvested buying whole & FRACTIONAL shares.
I could go on and on but as you might expect; LSMFT.
NAV = 15.81 Times 21% = $3.32 divide by 12 = $0.27
So if the distribution was figured TODAY, the distribution would be 27 cent per share.
Now if you reinvest the distribution TODAY it would cost you $16.09 per share.
But if you're enrolled in Cornerstones DRIP you'd pay $15.81 per share, which is NAV of CRF.
Just the Facts.
LSMFT; Let's Stop My Fingers Tired.
I don't want to sound Snipped, But if you have trust issues with ORC's management "MOVE ON!"
I have not gone over the number more than once but 12.38 seems "Close enough" for me to "TRUST" and BUY.
If you have it in you to DIG DEEP, read the WHOLE REPORT and listen to the CC. And get the "DAYTRADING" mentality OUT your head and watch the stock price over the next few months. So what ever side of trade you're on, luck be with you.
That being said;
LSMFT, Lucky Strikes Mean Fine Tobacco
LSMFT, Let's Stop My Fingers Tired
Economic "GAIN" on common equity .04%; 1.6% adjusted annually.
Share repurchase up to 2 Million shares; Board of director passed on July 29, Today with stock trading OVER 35% below book value.
Overall it was not a good quarter but it was not as bad as the stock price reflects.
Looking for a CHOPPY Uptrend in ORC share price FROM a NEW LOW tomorrow @ $7.70 after which I EXPECT ORC to start Buy Back to near $11/shr.
"...higher divy..." check current NAV times 21% divide by 12 and you'll have an idea of the "NEW" distribution for next year.
Or try this; NAV times 21% divide by stock price of CRF and repeat for CLM then compare return %.
HQL has a "managed distribution"; 8% of NAV.
HQL NAV as of 7/24/15 is 29.56 so if distribution was called Friday it would be $0.5912
CLM needs CEF's like HQL in their holdings, or get back to Large Cap Blue Chips like they used to be.
bdemark02, I'll tell you what I think; "If you own CRF you should get into Cornerstone DRIP. Your distributions will be reinvested at NAV through Cornerstones DRIP.
catloraine, CRF holds Blue Chip Large Cap stocks. CLM holds other Closed-end Funds.
If you compare CEF's against Large Cap stocks...enough said.
Speaking of CEF's and 'fire sales' check HQL(if CLM held other CEF's like HQL I'd have more faith in the holdings)
LSMFT; "Lucky Strikes" Means Fine Tobacco
LSMFT, Let's Stop My Fingers Tired.
I think the bottom was put in Friday.
I think the FINAL RO price will be between 10-15%...closer to 15%.(NAV as of 7-17-15; $16.68).
CRF NAV was up a lot Google effect....I like CRF's holdings, CLM is going to the toilet; NAV off near 15% since last Oct.
I hope with CLM large portfolio turnover they get out of the "Other CEF's" and back into the large Cap as they used to be not too long ago.
See you all later.