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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (146092)9/12/2008 4:43:31 PM
From: benwoodRead Replies (1) of 306849
 
The AU dollar... well, I noticed the return being scalped from paid in capital last spring, when the AU dollar was still going up. I viewed it at that time as a warning sign that there were losses coming down the road and so they were propping up the dividend.

At $5 and a few cents, thats a fair bit cheaper than were I sold, which was between 6.20 and 6.50.

I think they are worth considering at this level, but I would assume the self-consuming payouts would end, meaning the ongoing dividend from actual earnings is around 3/5th of 8%, or about 5%, of share price, perhaps not enough yet to assume the currency and loan loss risk.

I remember MB (knighty-tin) making a comment about their lousy management at the time (I think he means they were non-transparent). Plus, there was the time when I owned them with the share price dropped 18% one day when they had a 'shareholder rights' plan that basically helped them and screwed current shareholders.
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