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It's another special dividend announced for December, this one from Franklin Resources...
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Monday, November 19, 2012, 10:54 AM ETIt's another special dividend announced for December, this one from Franklin Resources (BEN +1.2%) for $3/share. Other asset managers/securities industry names maybe looking to help their owners beat the tax man: WDR, CBOE, CME, and GFIG.
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“I love these companies, but I’m so scared that now all of the sudden I’m going to get taxed at such a rate with them that they won’t be worth anything,” Mr. Moorin said. "
If that isn't a texbook example of fear-based investment decision-making, I don't know what is. [They won't be worth ANYTHING?] Aggregate that and you have the irrational market in a nutshell. (So to speak.)