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hang ten one of the reason they can't

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look1   Sunday, 06/14/09 07:12:35 AM
Re: hang ten post# 2
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hang ten one of the reason they can't have dividens is the 1940 law on leverage you have to have a 2 to 1 leverage coverage if not you can't pay dividens. Also when they do unleverage their preferrds when ther holdings are so low . You have to sell more because of the lower price to get out of leverage. You can check out market price and NAV price on http://us.csam.com/cef/products/products.asp? Also you probly saw their holding in the news or SEC under NQ With my retirement money I try to not get into anything that has leverage had some trouble with NRO but got out in time when they said they were buying out their preferreds now I guess they are done leveraging.

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