October 4, 2011
I am a 'small' investor, although what we have invested is pretty much 'everything' so it's quite LARGE to us.
We appreciate your consideration in wanting to protect us from evildoers in the REIT space. What the consequence has been, however, is to throw gasoline on the market fires.
Couldn't have been timed better, actually. So: we have Greece, etc., etc., etc., banks overleveraged by selling CDO's they can't cover, 20% market decline since April, BAC just about bust, bear raiders running amok what's left from the '08 meltdown and what's left of my kids' education funds.
Now you come along, and decide that it's too good a deal that we can somewhat protect ourselves from the professional jackals and wolves that run the equities markets by investing in lower-volatility, high-yielding REITs. Already facing the abyss of another market meltdown which you have done little or nothing to mitigate, we watch as our REIT values drop 6 months worth of income -which we are RELYING on- in a day because of your earnest desire to make sure we don't get hurt somehow.
Uh, thank you?