re: vrlpa - am i right?-wrongway
Wronway - Congratulations on making a profit. Nothing wrong with that. I doubt that ed will ever $3.00 for the prefs - at least not in my lifetime especially given that the BOD of Village hold very few prefs and those that they own are probably covered by a buyback plan so that no matter what price they paid ($4.00, $3.00..) they will not lose money on them.
I HOPE that the dividend will get paid and I can sell out of the prefs for a profit too, but given my cost basis that will be a long time.
As a trader being caught on the wrong side when a company such as Village surprises with an announcement to cut dividends has taught me many a good lesson and reinforced other trading rules that I have.
First, is to pick companies that have decent managements with neutral or non negative reputations. It is hard enough trying to make a buck without having the management working against you.
Second, when buying US shares, never ever buy into a company that has what they call a "shareholder rights plan". (I call them a "Keep me in my job no matter how bad I do plan").
Third, is that I am a trader not an investor. I have heard the comment that an investor is a trader that screwed up.
VRL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
