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Impac Mortgage Holdings Inc. Message Board

nolaloha 2 posts  |  Last Activity: Jul 25, 2014 12:19 PM Member since: Aug 2, 2008
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  • Reply to

    INVESTMENT OPPORTUNITY

    by nolaloha Jul 25, 2014 11:17 AM
    nolaloha nolaloha Jul 25, 2014 12:19 PM Flag

    As a former political appointee, I try not to apply rational approaches to political decisions. However, this one is against so many people's pocket books, at so many levels, I do not think it will pass - even in California.

  • Read the linked announcement:

    http://finance.yahoo.com/news/pacific-coast-oil-trust-announces-204200768.html

    This initiative and other related legal actions have resulted in a drop of the price of ROYT from an initial offering price of $20 to the current price of $10.47. At this price the income from ROYT is 15.85%.

    The Initiative will fail:
    1. It adversely affects a broad group of people
    2. It adversely affects the county's revenues
    3. It infringes on the ability of the State of California to create energy policy.
    4. It is against the goals of the US government.

    The current real value of ROYT is closer to the original offering price, and will continue to raise, since developments planned will result in increased production.

    I am long and just increased my position.

    Sentiment: Strong Buy

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