Have _you_ ever wanted to end up like Hans Gruber from the first Die Hard film, except not a scummy murderer and also not dropped 64 floors from a high-rise?
Me, too!! :D
Fortunately, the no-fee mutual fund CLM, during its usual monthly dividend yesterday, accidentally triggered mass computer panic, signalling a stampede straight down from $16 last week to a bounce off the high $14.40s this morning (if I recall correctly).
This means everyone in CLM got their value wiped out, but I was giggling pretty hard because CLM has been paying a rock-steady dividend every month (and even went up a little this past quarter). Back last summer it was around 10% per year (though more than that if you reinvested each month's dividend), but right now it's somewhere over nineteen percent annually (even without monthly reinvestment). And might drop to 20% pretty easily before sanity recovers! -- my guess is we've got another day or two before the dead cats start to bounce.
This isn't one of those stocks you don't buy to sell off later at a profit. This is one of those stocks you buy to get monthly retirement checks on someday.
So I thought I'd share the opportunity while the getting is good!
where on the insider trading spectrum does this information fall?
JP Windbag is shilling??????
what is this world coming too? :hug:
Eh, the stock has done very well for me, so I thought I'd share. It isn't a boiler room situation -- I have no connection to CLM in any way (other than owning their stock).
Thus also not insider trading. ;)
The stock jumped back up to $15 by the end of day yesterday, a little unexpectedly, so _someone_ realized it was underpriced and jumped on locking in that dividend. (Or rather a bunch of someones; the stock has a lot of volume activity every day, and more than usual this week for obvious reasons.) It's still a well-performing stock with a profitable technical glitch that market pressures will normalize sooner or later. Just a little less profitable than yesterday -- but still worth jumping on. (Almost 19% instead of over 19%.)
When I was 18 and money market rates were around 20% I used to think to myself all I had to do was save around $100,000 and I'd live off the interest. LOL :DD I always seem to be in the wrong boat since then, just hope I get my close to $100,000 out of the boat I've got it in now. That "boat" has been providing pretty decent paying jobs for three guys other than me, and if I can get my dinero back yet I'll consider it a success.