My 17 year old son buys from Finish Line not Foot Locker. I have loaded up on FINL about 3 or 4 times now after each major sell off and then sold when it rebounded well past the drop for a great return. I just bought back in this week and expect to make another solid return once again.
I trust my son buying habits more then Mr Market.
We have something in common, I did not sell this week either.
it will be interesting to see what VNR does in 2016 with its common share dividend, you are right that if there suspend all dividend we could see a big drop here.
I know, I maybe a bit obsessed, but I just do not see how VNR does not come out of this even if that is a few year out.
What happens to the common shares dividend is irrelevant to me (although I own quite a bit of that also), I am betting that the preferred dividends are safe. And to get that sort of monthly return is too good to pass up.
I agree that the sell off was strange since the 3rd quarter earnings report was not a disaster, in fact the actual report was solid and positive.
So I doubled up on my holding on 10/27 and thought we would see a quick pop back up to the 40's.
Well it has not been quick but the last few days look good.
You may be right but the way I see it the outstanding shares are as follows: A with 2.6 million, B with 2.6 million and C with 4.3 million for a total of 9.5 million shares or roughly $18.57 million per year or $1.5 million a month. Not all the authorized shares have been sold to the public. Again, I could be wrong but even the most recent 10-Q shows preferred dividends closer to a $20 million dollar figure for the year.
I think it just has to do with the bid -ask spread. As you see these shares are not traded with great volume.
Since Preferreds have different symbols across Etrade, Fidelity, and Interactive Brokers, here are the cusips in order of A B C, 92205F205, 92205F304, 92205F403
By January the returns on these stocks will be easily over 25%, I am buying anytime they drop.
CIM, MTGE, NYMT, and ARI (ARI is the only winner here). I sold out of CMO after they reported #$%$ numbers and I was thinking about going short on them but didn't. I will sell out of MTGE and NYMT at the ex-date for sure and still up in the air on CIM, that will depend on the ex-date pop. I own a lot of preferreds and VNR as well as ARR are nice since it pays monthly and is selling a huge discount.