North American Financial 15 Split Corp T.FFN

NAV continues down

[mouserman]

Blows me away how some naive investors are buying FFN and LFE  in particular at big premiums, hoping for the big yield come the end of the month. Again nearly every stock in both of these split funds is down to start the day, and the USD losing groundvs CAD, means an even bigger drop in NAV.
Its  2 weeks until the mid month update that determines payments to commons, and LFE is unlikely to regain the 15$ threshhold needed. WIll drop like a rock in the days coming up the 15 th... but JMHO

[KnaveofDiamonds]

I second that motion.  Going to be a rude awakening for some.  JPM and GS getting obliterated.

[canoehead]

WFC, BAC, TD and MFC as well. Might be tough to hold $5 NAV for FFN if this continues much longer. :-((

[alkhor]

Once the divvy is cancelled it is the time to look to buying again. I bought FFN at $3.75 last time it was cancelled and collected the divvy for a few months before selling for a double. Sold a few months too early but these can move fast

[mdoldon]

Depends on your long term goals I suppose.  Nobody can accurately guess the market direction in such a rapidly changing environment.  So hanging on might make sense for the long term growth/income segment.  I have to admit that BUYING at this point seems risky.