to match ari&fmg it should 40 cents. , page-5

hardmano,

ARI is trading at a 13% yield and FMG 6.4%.

If FMG had the same payout ratio as ARI, FMG yield would be 13% as well.

I am not saying AGO will go lower BUT saying that ARI&FMG should be much much higher when compared to AGO.

All three companies are different, hence my different modelling for each. They all sell the same product using teh same benchmark price (62%).

You have a choice of which to buy and they are not all correctly priced today when compared.

Which explains the 11% short interest in AGO today.