The stock was making a top when it was $17. My average is well below that. I have a lot of confidence the top will be exceeded this year, all the while getting 74c this year. I think the stock has a good chance to double in 5 years. That's good enough performance for me to be happy. It just takes patience. And, if I am wrong, the downside from here is minimal and 5% is great considering what 5 year notes return.
Stagnant business and earnings, nothing to get excited about. Earnings miss slightly, dividend still safe, tangible book value still solid at $15.15. We wait for another 3 months and hope for something to cheer about,
maybe a generous settlement of the lawsuit?