Sam Houston had Santa Anna and kept him prisoner for 6 months to insure that any deal he made for his life would be honored. So, the Mexican Army went home. They had no leader. Of course, the Mexican government dishonored Santa Anna as he had done the nation by losing the way he did.
Just watched the Alamo yesterday and read in Wiki about it.
In other words, once an engagement, which really did pit all the forces of each side against each other, happened, the win was final and the gig was up for the loser.
Don't know much about these short attacks, but I can see how NRF is suitable now for such given the daily volume, etc. But, one day, when the turn comes, it would seem to me that the move then is going to be an amazing thing. Have you ever seen a situation where so many shorts have to exit in a hurry. What will happen to the share price?
"Organic" is a word commonly used in the industry. Every profession, industry and trade has it's own terminology. There is nothing wrong with this. In fact, it is necessary to create a "language" such as this for the purpose of communicating industry specific activities. I don't understand how this activity can be considered obfuscating or invoke such intense emotion. It's just common business practice.
It is a matter of timing. BDCL is a bond. A subordinate bond of UBS. It's yield is 2X of a particular BDC index. The Wells Fargo Index, I believe. I have owned it for a couple of years at prices much lower than present price. My yield on basis of around 17% and has been higher. As long as the economy and BDCs are doing relatively well, it will hold up. As another poster mentioned, in a recession it will decline significantly. But, we are not in a recession. There are other risks associated with BDCL. Like anything, it's a matter of getting it right.
I want to see a $1.00 dividend. For many of us, the yield on cost with that dividend is going to be quite significant. The share will have to rise quite a bit to tempt me to sell with a dividend like that.
Indeed, the issue is a repricing of the yield based on the fact that Crosstex is now a very different company and deserves the kind of yield associated with the very stable, growth company that the new company will be. We got our benefit today, instantly. But, in time, the distribution will increase.
I have said before, the temptation with SFI may be to sell too soon. If you look out 5 years, they have a wide range of value possibilities. But, more than that, in my opinion, they have a wealth or range of contacts and skills developed during the crisis which can lead to all manner of new projects in the future.
Do you know, off hand, the value of SFI's land portfolio as it's carried. I am thinking it is around 1 billion. I was just thinking about just how much the land portfolio might end up being worth, above and beyond, present book value. What if it is a billion over present book. Roughly speaking, I think that would be around $11/share. But, if it's half of that, it could be around $5. I just wonder it the long term value of the land is going to end up being a very large surprise???!!