Hi All,

In case you’re not following the financial headlines, Market Watch is reporting that lending giant Fannie Mae, is cutting their dividend and issuing preferred shares.

Now, it doesn’t take a rocket scientist to figure out that this is bad news. When companies cut their dividend payout, it means they don’t have enough cash to meet their current obligations. It also signals the fact that management has – at least for the short term – a negative outlook on the prospects of their business.

While we don’t own shares in Fannie Mae, if you do have a position with them I would strongly consider reviewing your holdings with a mind to selling. In the past I’ve held companies who’ve cut their dividend payout. Its usually meant that the businesse’s value is in decline.

Best,

James

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