As hurricanes threaten many of our friends and neighbors, it seems silly, or perhaps even heartless, to write about anything else.
But as several of you asked why BOREF dropped from $5 to $2 yesterday, I thought I should respond. The drop was on a volume of 1600 shares. Presumably, some trusting soul — or perhaps the executor of an estate that held the shares — placed an order to sell those shares “at the market” and his broker, or some other dealer, paid $2. Scandalous. Had the seller placed a limit of $5, that’s the price he or she would have received. And that remains the price at which shares are currently offered. Nothing has changed.
Have a great weekend . . . as we all hope for the best for those in peril.
Quote of the Day
It turns out that advancing equal opportunity and economic empowerment is both morally right and good economics, because discrimination, poverty and ignorance restrict growth, while investments in education, infrastructure and scientific and technological research increase it, creating more good jobs and new wealth for all of us.~Bill Clinton
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