I was stunned by teh simple clarity in a quote attributed to Mark Cuban over the weekend who, on being asked to comment on today's investment environment stated that if he had time, he would simply compile as list of companies dependent on large amounts of debt and short them.

Large amounts of debt exactly describes REITs, BDCs and probably a bunch of other businesses that have historically been high dividend payers.  Already we have seen CSE grab a bank for funds and change from REIT status and nearly zero out its dividend.  GKK, dependent on CDOs has plunged to a shadow of its previous valuation.

Given that additional debt is going to be hard to come by and rolling over short term debt associated with long term obligations is a formula for disaster, I'm wondering if certain categories of dividend/yield investments are now "broken categories" and should be purged from a yield/dividend portfolio.

Where are the black-holes in the coming quarters? 

May I have your thoughts?

Robert