We wrote about this yesterday–we figured the hammering in the shares AmTrust Financial (AFSI) preferreds might let up today–they didn’t . In fact they continued at the same pace as earlier in the week. We are happy to NOT be speculators as there is no predicting which direction or how far share prices might move.
We understand that there likely will be a writer on Seeking Alpha advocating for buying the shares since there doesn’t appear to be fundamental issues with AFSI. In fact I just looked and crazy Norm Roberts advocated for a potential position on the 11th of January.
It is my understanding that Norm has now been banned from Seeking Alpha so don’t look for any updates to his articles.
Our advice to investors is simple–know what your goals are for your investments and you target returns and FORGET about crap like this.
Here is a chart of the AFSI-B shares after trading today.