Well I, for one, would like to get some ideas of where this stock will be headed over the next year. Forget the bashing and get past the oldies who are gone. Start from here and now.
BillKBillK last year
"Because I am a large shareholder."
Whose large number of shares are now worth much, much, much less.
Baby bonds crashing today.RFTA at $20, RFT at $17.60. Makes RFTA a better deal, as you get (assuming no bankruptcy) $2.50 a year back in capital appreciation up to time of payoff, where with RFT you get only $1 a year back in capital appreciation (and have to wait longer for it).So what does this say for the market, market evaluation of RAS's prospects?I would say someone is just dumping the baby bonds. Tired of RAS. Ready to move on.What is the market evaluating as RAS's risk of BK? No BK in next two years, and today's RFTA investor makes $3.75 of interest and $5 of capital gain, or $8.75 on investment of $20. If there is BK, and we assume the worst, today's RFTA investors get one year of interest, and nothing more, and so loses $18 on investment of $20. So the market could be indicating that there is a one-third chance of RAS going BK before RFTA can be paid off. Interesting.Maybe that is too pessimistic, but let us remember that RAS has a sterling record of crummy underwriting, nasty surprises and lousy lying management. My read is that a buy of RFTA today is a decent very very speculative buy. But who knows. What a #$%$ shoot.
BillKlast yearReplied to a reaction $RAS conversation "I hope the idiot bashers on this board did not drive him away.
While some of his predictions were certainly way too optimistic,
I very much valued his breakdown of earnings, and, by the way I also miss SME who went from positive to negative to pragmatic.
GUYS PLEASE COME BACK !!!"
Horrible outcome in contrast to outright fraudulent advice and the INDEFENSIBLE facts of the advice is what drove your hero away, you clown's fool!
Nobody Why do find it necessary to demean someone who asks a legitimate question. This board is for intelligent discussion about a security that they hold or are thing about buying, not name calling.
Next set of RAS Lemmings please line up!
How Davidson & Schaeffer pulled off swindle.The only requirement to maintain REIT status is pay out 90% of net inc. as defined by IRS. The schemers never brought that up. Instead FOCUSED on Cash Available for Distribution CAD is brought up by other reits but only as a minor statistic.The problem is it bypasses liabilities. Ex. Co sells prop at profit, pays off associated loans & diff. goes into CAD. But CAD does not take into account co. debt. Co.used CAD to pay [unaffordable] distrib [much of which was ROC Return of Capital]. Worked like this. Required div was .10c but they paid .60c. The ONLY reason this was done was to prop up stk price so they could issue new shares. Even worse money raise cash used for pfd div That extra payout came from shhldr equity which money should have been used to pay debt.Scheme worked for awhile but ultimately failed
I keep saying same things over 2 years This fraud exists because cover-ups 1. Book Value a head fake. Co has no equity. Pfd stk has $280m preference on liquidation leaving 0 for common 2. Co. so overleveraged its pathetic. Need MINIMUM $200M NEW EQUITY 3.Schemers paid out indiscriminately unaffordable unnecessary $200m distrib INCL PFD IN EXCESS OF REIT REQUIREMENTS mainly to support stock price. That cash should have been used to pay down debt 4.They losing money in lending ops because can't compete due to int rate spread & a/o 6 wks ago are blocked from new borrowings THIS IS NONINVESTMENT - PERIOD. Maybe get white night but what would anybody want with this toxic fungus? Better off with JCP
It took less than two years to go from paper Lincolns to metal Lincolns. I got out at a loss halfway down in what has been my worst stock mistake, and greatest learning process. IF the transformation completes by year end, does hope exist for a leaner, focused, profitable company in 2018? NSB
BillKBillKlast year $RAS conversation "Do not be so NEGATIVE. It seems that SO FAR the market thinks the earnings were not so bad."
It got a lot "not so badder" too, huh?
going kapuyskyl! BOD,Schaeffer & Davidson should be in Leavenworth
White collar crime at its worst. Great story for American Greed.
We need a "hostile takeover" to get rid of current mgmt.
Really???? Nobody, -Why in the world would you believe that someone who: "never owned common but did have ton of pfd which are now long gone" has any validity on this board. Why is he here? Why does he feel it is necessary to comment on a security that he has not held? And, by the way, do you own any common or Pfd? I own a considerable amount of all three Pfd's.
I wonder if . . .
Management is doing the only honorable and business smart thing now, which is to look for a takeover. Should have done it 2 years ago, and should have done it one year ago, and especially should do it now.
But two years ago management was not honorable or business smart, and one year ago management was not honorable or business smart, and today . . . well, you know.
It seems management will just ride this thing into bankruptcy court, earning their salary all the way until then. And then they will ask the bankruptcy judge to give them retention bonuses to ensure they stay there to contribute their business savvy while bankruptcy is processed. I hope at that point the judge tosses them out on their bottoms.
Don't put 2 much hope with highland as when Paulson tried 2 bail out Ras a few year back.once he got 2 look @ the books he ran away in less in 6 months. & that is a fact jack.
RAS Trustee T Wren bought 45K shares on 6/5 at $2.29, in two months he has lost $50K, so much for insider trading!
Nobody, I miss the old crew 2.
Anyone holding/buying the RAS preferreds? Long history of solid dividends for all 3.
X div tomorrow
psycho stock , I can't seem to face up to the facts I'm tense and nervous and I Can't relax I can't sleep 'cause my bed's on fire Don't touch me I'm a real live wire. Qu'est-ce que c'est fa fa fa fa fa fa fa fa fa far better Run run run run run run run away Psycho Killer Qu'est-ce que c'est fa fa fa fa fa fa fa fa fa far better Run run run run run run run away
You start a conversation you can't even finish it You're talkin' a lot, but you're not sayin' anything When I have nothing to say, my lips are sealed Say something once, why say it again?