Stablestock...why don't you check out ras's volitility for yourself. Historical prices and dividends are available on this web-site. Let me know your opinion of ras's volitility since 1999.
Someone has wiped out two of the last three threads....which contained dialogue regarding Bill Gross, his total holdings, his slow sell-off and opinions on how long price will remain somewhat depressed until his holding are totally cashed out.....Didn't think Pimco people paid much attention to this rather lightly used message board.
Eth...well written post and much needed. It's clear many other posters do not understand the basic premise or purpose for the creation of Reits. Nor do some understand the ROC designation is by virtue of losses carried forward, which also give the BOD the luxury of retaining some earnings and satisfying holders with dividends.
Nor do some understand that the selling of properties and the associated profits will be 100% tax free. Based upon losses incurred with other Reits during 07-08, I know their losses carry forward starting this year or next will expire. One of my funds actually makes the amount and dates available for all to see without digging.
How many of this boards readers let their personal tax losses expire while holding taxable gains? Why should RAS.
So, last CC when they gave us the look aheads, they didn't know this 6 cent expense was coming? So, as long as they have an excuse for lower earnings and book value it's OK?
This is my only Pimco...I originally got into PONCX...real safe close to 5% return at time of purchase....end of year divy pushed it up to 6%...the original 100K rose to 110K but I owned the same amount of shares, so I moved the 110K into PCN and now receive the benefit of the extra 10K earning interest...plus PONCX was maybe a little too conservative...
I don't really understand the disappointment with PCN's end of year divy. History show higher, lower and zero.. total return was very close to 10% (not looking at share price only checks cashed by me)
No interest in selling....the Bill G's slow selling effect will eventually neutralize. I chose PCN because of the lower level of unrated bond holdings when compared to than other higher yielding funds. I fully understand a fund can't pay 7-8% without some moderate to high risk bonds in the mix.
I too have about 6500 shares and agree with all of your metrics, but the current rise may be buying the dividend..look at price rise prior to ex-div day since Jan...rises 20-30 cents then drops the same....Never really understood how an .11 cent dividend could raise a price 20 cents...happens a lot with all divy paying issues..
The X-factor is share price...I'm in for the monthly check, my heirs will have to deal with the share price...but the confluence of the year end distribution not being as large as expected combined with Gross needing to unload shares has skewed the selling price...Pimco doesn't put out any fires updating this web-site.
I would buy more due to the current return but don't want to liquidate anything else I have.
Disclosure: Retired, sold my business for cash in 2007, most of my money has been taxed. Stayed in a pension plan...life is good.
I wrote a few months back that while things looked bright, RAS is known for letting out bad news in dribs and drabs and was not convinced Taberna was totally behind us. I commented on what I thought was weak language in the Jan report looking forward...I'm was then deluged with DF posts and others reminding me that my comments are frequently based on history and do not reflect the new & improved RAS.
With a few exceptions, Ethison being one was positive but acknowledged there could be more, less than desirable news on the horizon...Otherwise, I was labeled as being negative and accused by Davis as being 'specious'. Well how do we feel today knowing that without the benefit of selling 'additional' properties Scott most likely will not meet his bonus quotas. Ever play monopoly? Short of cash? Sell something!
It has been said the definition of insanity is doing the same thing over & over again expecting different results. RAS has been doing the same thing since '07 and we keep expecting different results...but the shoes keep dropping...
Not being fresh here jrf, but I see mostly freebies and options that are well below even today's low. There were three buys granted...I'm not impressed...Even Daniel Cohen would buy shares at market sometimes. It was part of the 'dog & pony show' to help keep face for the BOD knowing they would grant more free shares than were just purchased...keeps the actual cost average down nice and low....
K1....my experience is that RAS mgmt has a history of leaks going all the way back to my entry in 2001...now remember there are good leaks and bad leaks but there has always been leaks...Would be great if this time they fooled the shorts...
Davis...I 'm glad to see you finally write something positive about the validity of GAAP earnings/income, as a metric for investors. You and I have always disagreed on this...It was never about your position as to why one needs to look beyond GAAP but that is where it starts for many others....GAAP losses & declining book values...that's enough for most investors to turn the page and look at something else...
Davis, my post was directed at Stone..we know your point of view.
FYI: In Boston...2 is a couple, 3 is a few, 4 is a month and several is any amount beyond that but usually in the 3 months or less time frame.
Any of you who have read this thread and are either pleased or not remotely concerned with RAS's 2015 market performance, please write in and tell us why.
Since Jan my only issue that has lost more than a few pennies is RAS... two are actually higher but not by much.
Come on start hitting the keyboard....
Stone....what has been the catalyst that has lowered the price by a dollar (=10-15%) over the last several weeks?
hope zhivago is wrong but may be onto something... Hidden issues could negatively affect share price while at the same time CAD could rise and bonus is earned! Getting a penny increase in dividends at the expense of 5-15% decline in share price is not really a feel good situation.
We all know that RAS's leadership is very familiar with the handling of hidden issues...there are some posters who will claim they saw it coming, it was to be expected and the current drop in price is just another short attack...
FYI: I've changed my sentiment from Buy to Hold....current slump seems to be sustaining itself in the face of supposedly improving conditions...
Joe....I misinterpreted your thread...I was responding to "who would add to a stock that lost 90% of it's value....I omitted including the title of the thread to the question? Which is looking for winners from '08....
Sorry.....for my most recent reply...
imjoe....I've been in since 2001....added shares upon retirement 7/07 @ $24 ($72 today), added more in '08 at about $7/share ($21 today) the some more at $5 ($15 today). I've seen the bottom 2-3 times....How much do I have to lose to make your list?