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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (30393)3/20/2008 10:19:00 AM
From: Spekulatius  Read Replies (1) | Respond to of 78659
 
CIT -
there is a preferred i am watching. CIT-PA (yields 6.35% on 25$0 trading at 9.35$, yielding 16.8% currently.

If CIT recapitalizes (by issuing new shares) the shareholders are diluted but the preferred should rise.

There is also a mandatory convertible preferred trading with a higher coupon. this one was issued recently when CIT's troubles began.

quantumonline.com

(No position currently)



To: Madharry who wrote (30393)3/20/2008 10:38:32 AM
From: Paul Senior  Read Replies (1) | Respond to of 78659
 
CIT. Volatile stock.

Not sure what I'll do here. If I catch it (the common) at $6 level with no further adverse news, I may add to my small position.

I'm not worried about being diluted in a possible stock offering by CIT to raise capital. Stock already is so far under stated book value I figure a little reduction in stated b.v./sh. from a stock offering is not going to make things any worse.


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