Hi mbc23,I echo your bafflement! From what I can see the bottom...

Hi mbc23,
I echo your bafflement! From what I can see the bottom when covid hit was $1.37. So covid Armaggedon was only 6c lower. (I appreciate we have just gone ex-div.)

I appreciate that interest costs will rise and rising cap rates will also see NTA fall. But how far depends upon where rates go. Until recently there was a strong body of thought that hikes were almost done and we would actually see falls in 2023. However, in recent days the picture seems to have become "higher for longer" with an increased chance of central banks causing a grinding halt in the economy.

I obviously have no way of knowing which view is true. However, I would have thought that COF had a fair bit of buffer in terms of both profitability and NTA falls. I would obviously like to think that this is a good entry point. However, I have been painfully wrong before. Catching a falling knife can be really painful and an Alf opportunistic top up seems to be a signal for further falls :-( !