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

To: Area51 who wrote (36953)	3/12/2010 9:32:01 AM
From: E_K_S	Read Replies (1) \| Respond to of 78748

Hi Area51- I continue to hold RAS but just a stub position. The preferred shares was a good call since they stooped paying their dividend on the common over a year ago. I originally bought it because the BV was claimed to be much higher than the stock price (over 100%) but apparently the market thinks differently. The lesson I learned is its a difficult business to understand and with all the paper assets they own its hard to value their worth. The credit crunch made these assets worthless with no active bids in the secondary markets and definitely no liquidity in them for the company. It does appear that some of this paper is coming back to life and the company actually reported positive earnings last quarter. The stock has responded too up over 50% in the last 30days. I have not added to my position and in fact harvested some losses. What are the preferred shares yielding, which ones do you own and how have they performed over the last 18 months? I guess I would favor nibbling at some of the preferreds at this time rather than trying to hit a home run with the common stock. EKS