The Insanity Of The Chase For Special Dividends

Teligent figures to gain ground after it posted a smaller-than-expected loss in its fourth quarter Monday, losing $156.6 million, or $2.89 a share, on sales of $15.5 million...For the year, Teligent lost $531.8 million, or $9.95 a share, on sales of $31.3 million...Thirteen of the 15 analysts tracking the stock maintain either a "buy" or "strong buy" recommendation. First Call consensus expects it to lose $11.30 per share in fiscal 2000. -- "Stocks To Watch," CNet.com, March 7, 2000 I saw the insanity of the dot-com bubble first-hand; the broker who sat across for me, in fact, pitched Teligent stock for months, excitedly watching it climb to over $100 per share, giving the company a market capitalization of $6 billion. Of course, the bubble would burst; 15 months later, Teligent was bankrupt. Twelve years later, with the Fed's ZIRP firmly in place and bond yields at... Read more