Seeking Alpha
  • Expect The Unexpected
    ANF, COH, CREE Yesterday, 11:05 PM George Acs 24 Comments

    Summary

    • Even the crowd gets it right sometimes.
    • Mini-corrections may be the new normal as the market trades at much higher levels.
    • Market catalysts aren't appearing on the near-term horizon, but the trend continues higher following dips.
  • Weekly Intelligence For MLP Investors
    BWP, CMLP, GSJK Yesterday, 7:56 PM MLPData 3 Comments

    Summary

    • EIA reports record new Gulf inventories as Cushing is bypassed by new pipelines, creating opportunity for Gulf refiners.
    • Kinder reports one-third of all natural gas consumed in the US is transported over its network, with estimates of a 50% increase in US demand by 2019.
    • 18 units hit a new 52 week high with no new lows; AMZ index 5.63% YTD total return.
  • Kinder Morgan Energy Partners: Why Not Consider This Outstanding Wealth Building Machine?
    KMP Fri, Apr. 18, 12:06 AM Achilles Research 44 Comments

    Summary

    • Income investors should not look at MLP earnings, but rather cash flow.
    • Kinder Morgan Energy Partners presented respectable y-o-y distributable cash flow growth.
    • KMP remains a top long-term wealth building vehicle benefiting from both organic growth and acquisitions.
  • Income Is Always A Good Idea
    PFF, PGX, AMLP Thu, Apr. 17, 3:12 PM Invesco US 2 Comments

    Summary

    • Investors may want to consider diversifying their income stream through a variety of income-producing investments.
    • Dividend-paying stocks are one of the cornerstones of a portfolio that can provide potential growth of capital as well as increasing income.
    • After municipal bonds experienced outflows in 2013, investors may now be realizing the value of their high-quality, tax-exempt income.
    • Master limited partnerships generally distribute nearly all of their income to investors in the form of quarterly distributions.
    • Preferred securities can serve as a strong diversifier as well as a source of potentially consistent income for a portfolio.
  • When To Buy Dividend-Paying Stocks?
    IBM Thu, Apr. 17, 2:46 PM Dividend Growth Investor 15 Comments

    Summary

    • Dividend investors should view each stock purchased as a share in a business.
    • Once an investor has a list of quality businesses, he needs to be able to decide at what prices to purchase them.
    • The intelligent dividend investor should know that even the best company in the world is not worth purchasing at any price.
  • A Real Dividend Growth Machine: Q1 2014 Review
    AMGN, CVX, INTC Thu, Apr. 17, 2:34 PM Dividend Growth Machine 45 Comments

    Summary

    • First-quarter review of actual results from a real dividend growth stock portfolio.
    • Insights regarding how a young dividend growth investor manages his portfolio.
    • Commentary on total return and dividend growth investing.
  • Rolling The Dice With Earnings
    AMZN, CLF, CREE Wed, Apr. 16, 5:29 PM George Acs 35 Comments

    Summary

    • Earnings season offers opportunities that doesn't need to include high risk.
    • Deep "out of the money" put sales may be an effective way to exploit volatility.
    • Put sales don't necessarily have to be restricted to stocks that you would be comfortable owning.
  • How To Identify Your Dividend Investment Goals
    KMI, PM, UL Wed, Apr. 16, 4:22 PM Dividend Growth Investor 24 Comments

    Summary

    • For most investors who want a strategy that would help them in accumulating a certain level of target monthly income, dividend investing might be the best solution.
    • For many investors, the goal is to generate a sustainable level of dividend income, which maintains its purchasing power over time, at the minimum.
    • Your goals should take into account things like amount invested every month, the time until you retire, plus make assumptions about yield, dividend and earnings growth.
  • 401(k) Reconstructed: Q1 2014 Review
    CHD, DPS, EOG Wed, Apr. 16, 3:05 PM Eric Landis 42 Comments

    Summary

    • My 401k's transition into Dividend Growth Investing has now reached its one-year anniversary.
    • While there have been several adjustments made to the portfolio during the year, the growth in income it produces has been on an upward trajectory.
    • In addition to increasing income, the portfolio has also had a sizable increase in capital gains.
  • Retirement Income Portfolio: A Stronger Focus On Dividend Champions
    WGL, PEP, PG Wed, Apr. 16, 5:45 AM Dividend Sleuth 28 Comments

    Summary

    • Revisions to the portfolio reflect a greater priority on dividend growth.
    • Four Dividend Champions have been added to the portfolio since 12/31/13.
    • WGL Holdings was discovered by gleaning David Fish's list of Dividend Champions.
  • A Case For Passive Income From Stock Dividends
    KO, CL, AAPL Tue, Apr. 15, 9:28 AM Financially Free Investor 24 Comments

    Summary

    • What is passive income? Strategies on how to capture it.
    • A real-life example of dividend growth: $2,000 invested from 1994 to 2014.
    • Growth stocks versus dividend stocks (Hare versus Turtle?).
  • What Is Total Return?
    NOBL, SDY, VIG Tue, Apr. 15, 7:45 AM Dale Roberts 58 Comments

    Summary

    • In the accumulation phase, the most important metric is total return once the risk tolerance level is taken into consideration.
    • Total return is widely misunderstood as an investment style. Of course, total return is a measurement of portfolio total value.
    • Focusing on total return vs. total income may provide greater income in the spending phase, when that income is actually required.
  • BDC Rankings: April 2014
    ACAS, AINV, ARCC Tue, Apr. 15, 7:33 AM BDC Buzz 28 Comments

    Summary

    • BDCs have fallen 8% over the last 7 weeks and I believe this is a buying opportunity.
    • FS Investment (FSIC) is a new BDC IPO coming out tomorrow that investors should be aware of.
    • This article has updates for my suggested BDC portfolios and "Buy" recommendations.
  • My KISS Dividend Portfolio: 1st Quarter 2014 Update
    AFL, AHGP, APD Tue, Apr. 15, 6:23 AM The Part-time Investor 320 Comments

    Summary

    • By using simple, easy to follow criteria you can create a successful DGI portfolio.
    • I have begun to trim positions which become overvalued.
    • During difficult market conditions my portfolio has been able to outperform both the S&P and SDY.
  • Warren Buffett, Berkshire Hathaway, And Dividend Growth Investing
    BRK.A, BRK.B Mon, Apr. 14, 5:32 PM Eddie Herring 222 Comments

    Summary

    • There are certain investors nationally recognized as highly skilled investors. Warren Buffett is one of these.
    • The Berkshire Hathaway common stock portfolio contains many dividend paying companies.
    • Many similarities exist between the Berkshire Hathaway portfolio and dividend growth investors' portfolios.
    • We can learn certain sound investment lessons by studying Buffett's investments contained in the Berkshire Hathaway portfolio.
  • The Tortoise Series: Part 19 - Potash Corp. Fertilizer Or Just A Load Of Manure?
    POT Mon, Apr. 14, 4:34 PM Richard Berger 37 Comments

    Summary

    • This is part 19 in a continuing series on building a dividend income equity portfolio with lower market risk and boosted yield using covered option writing.
    • Potash Corporation of Saskatchewan is evaluated for value and yield boost using covered option writing.
    • Potash cannot be considered a suitable candidate for a dividend income portfolio. Investors with that focus should avoid the shares at this time.
    • Existing shareholders may want to use the 5/17/2014 $36.00 Covered Call for an annualized yield boost of 219% on top of the existing dividend.
  • Cast A Wider Net For Asian Income Stocks
    VPL, AIA, ADRA Mon, Apr. 14, 1:33 PM AllianceBernstein 1 Comment
  • The Kinder Morgan Conundrums--Part I
    KMP Mon, Apr. 14, 12:48 PM Arthur Paullin 104 Comments

    Summary

    • Most investors believe KMP's IDR with KMI are responsible for KMP not keeping pace with the market. If true what can be done about it?
    • Many investors, confused by the differences between Limited Partnerships and Limited Liability Companies, arrive at solutions to KM problems that are unattainable and make poor investment decisions.
    • KMR was organized for a very specific purpose but another valuable benefit came out of it.
  • RAIT Financial - At 7.625% Their Debt Is Attractive
    RAS Mon, Apr. 14, 7:44 AM Rubicon Associates 15 Comments

    Summary

    • RAIT financial has worked its way back from the precipice during the financial crisis and is in decent shape going forward..
    • New debt issued by RAIT helps the company diversify their funding sources and trades at a lower yield than their preferred and those of its peers..
    • Given the market's faith in the company, and their turnaround, the debt is an attractive alternative for an income investor..
  • 12 Stocks Held In Common By S&P 500 Low Volatility, High Quality And High Yield Indexes
    BAX, CVX, JNJ Sun, Apr. 13, 7:31 PM Richard Shaw 14 Comments

    Summary

    • 12 stocks common to S&P 500 low volatility, high quality and high dividends outperformed S&P 500 over the long-term with less risk and more yield.
    • As recent markets turned nervous, they are outperforming again.
    • Baxter International, Chevron and Lockheed Martin stand out as most attractive of the 12.
  • BDCs And The Russell Indices: Part 3, BDC Fees
    ACAS, AINV, ARCC Sun, Apr. 13, 10:20 AM BDC Buzz 46 Comments

    Summary

    • More efficient BDCs will likely have less institutional ownership turnover and be the first to rebound.
    • BDCs with lower fees have the ability to pay more to shareholders.
    • Since February 24, 2014, BDCs have dropped 8.4% due to concerns related to being excluded from certain indices.
  • Escape From The Matrix: Alternative Finance And Investment Advisors
    GOOG Sun, Apr. 13, 9:36 AM James Levy 5 Comments

    Summary

    • Something is very wrong at the heart of the investment advisory industry.
    • Alternative Finance, especially Direct Lending (Peer-to-Peer Lending, Peer-to-Business Lending) can provide excellent returns, but is largely ignored by investment advisors.
    • When and why Alternative Finance will be accepted as an important new emerging asset class.
  • Weekly Intelligence For MLP Investors
    CQP, ENBL, HCLP Sun, Apr. 13, 12:10 AM MLPData 7 Comments

    Summary

    • Strong week of performance - AMZ +.61% vs SPX - 2.64%.
    • 17 MLP's rise to new 52 week highs with no new lows.
    • Enable Midstream trades up +10.1% from $20 IPO pricing Friday.
    • IRS discloses that new Private Letter Ruling's will be on pause until further review.
  • The Tortoise Strategy: Part 18 - Why Blackstone Group L.P. Is A Buy Now
    BX Fri, Apr. 11, 10:00 AM Richard Berger 28 Comments

    Summary

    • This is part 18 in a continuing series on building a dividend income equity portfolio with lower market risk and boosted yield using covered option writing.
    • Blackstone Group L.P. is evaluated for value and yield boost using covered option writing.
    • Most investors should buy the shares at $31.30 market, and sell the 9/20/14 $36 covered Calls with $0.85 premium to generate income, boost yields, and hedge downside risk by $0.85.
    • Pure income investors may sell the 4/17/2014 $36 Strike Cash-Covered Put with a $1.50 premium, hedged reduced basis of $29.50 if shares presented, and 50.16% annualized yield rate.
  • A Quantitative Look At IDRs And Their Impact On MLP Growth
    Editors' pick ACMP, BPL, EPD Fri, Apr. 11, 9:28 AM MLPData 25 Comments

    Summary

    • 87% of midstream MLPs pay Incentive Distribution Rights to a General Partner, which can warrant up to 50% of the incremental distributable cash flow.
    • Five midstream MLPs do not have IDR structures or make any extra payments to a General Partner.
    • MLPs with Incentive Distribution Rights are able to grow distributions at similar rates as those without IDRs for a period of time, but scale matters.
  • Main Street Capital Makes A Move
    MAIN Fri, Apr. 11, 8:30 AM BDC Buzz 42 Comments

    Summary

    • MAIN is offering 4 million shares today and this article will discuss some of the impact to shareholders.
    • Since February 24, 2014 BDCs have dropped 8% due to concerns related to being excluded from certain indices.
    • MAIN is still trading at a healthy premium to NAV giving it a competitive advantage over other BDCs.
    • Most likely shares of MAIN will be trading down today and I believe this is an opportunity for investors.
  • What If My Stocks Crash And Burn? Part 2
    AFL, BCE, BLK Thu, Apr. 10, 11:06 AM Inzkeeper 78 Comments

    Summary

    • Sorting my portfolio into "keep", "add more" and "ditch".
    • How my current holdings did during 2008-2009 recession.
    • Look at your holdings now, while the skies are blue.
  • Buy Annaly, Not High Risk Debt
    NLY Thu, Apr. 10, 5:17 AM Seeking Profits 15 Comments

    Summary

    • Greece is coming to the market at less than 5.25% despite major risk.
    • The hunt for yield has pushed high risk debt to very low rates across the board.
    • In this environment, investors are better off in NLY, which pays 10.5%, trades below book value, and invests in relatively safe debt.
  • Emerging Market Debt Options To Hedge Fed Taper And Stock Volatility
    TEI, EMD Wed, Apr. 9, 11:12 PM Daniel R Moore 5 Comments

    Summary

    • Emerging Market Debt Funds (TEI) (EMD) are relatively undervalued at this time and are likely to provide above average risk reward returns over the next several years.
    • The major market correction in Emerging Market Debt in 2013 while U.S. stocks made a major run upward is very similar to conditions experienced in the late 1990s.
    • The article analyzes what happened to TEI and EMD during the late 1990s, and compares the pricing action to current market conditions in the two time periods.
  • Dividend Growth Investing: Is Total Return A Useful Metric?
    CAT, CTSH, DE Wed, Apr. 9, 6:03 PM David Crosetti 239 Comments

    Summary

    • When measuring performance total return presents an interesting and valuable metric. While no single metric can serve as a complete analytical tool, total return can be very useful in helping.
    • As some would suggest, "beating the market" can be a fool's errand, but there is no excuse ignoring the management of your actively managed portfolio.
    • Regardless of your investing strategy, perhaps the total return metric can help make you become investor.
  • Kinder Morgan Energy Partners: I Will Not Stop Buying
    KMP Wed, Apr. 9, 2:49 PM Achilles Research 60 Comments

    Summary

    • Kinder Morgan Energy Partners is a first-class income vehicle.
    • The recent consolidation offers an attractive entry point for long-term investors.
    • Entry- and peer group leading yield of over 7% makes this MLP a Strong BUY.
  • How To Tame A Bear Market Like A Champion
    ADM, ADP, AIG Wed, Apr. 9, 1:31 PM Eric Parnell 16 Comments

    Summary

    • Stock investors have endured two major bear markets since the turn of the millennium.
    • Some investors worry that a third major downturn may be soon ahead.
    • A select group of stocks have demonstrated the ability to not only perform well but in some cases thrive during past bear markets.
    • But if a bear market enters a liquidation phase like we saw in late 2008 to early 2009, all bets are off.
  • Stock Market Versus Net Corporate Dividends
    AAPL, CME, DIA Wed, Apr. 9, 10:27 AM Pat Stout 6 Comments

    Summary

    • Dividend and stock price charts compared with different base index date. The same data reveals a different look.
    • Apple and CME made capital allocation changes during 2012.
    • Dividends do matter and share repurchase programs may not increase the value of the firm.
  • How One Retiree Is Muddling Through Dividend Investing: Part IX - My Dividend Investment Business Plan
    APU, AVA, AZN Wed, Apr. 9, 3:56 AM Martin Rice 140 Comments

    Summary

    • In spite of knowing better and saying I would, I never made an investment business plan.
    • Drawing upon advice from Bob Wells, Chowder, David Van Knapp, and other S.A. contributors, I have constructed a plan specific to our goals and needs.
    • The plan is spelled out in this article and our current portfolio is presented.
  • What If My Stocks Crash And Burn? Part 1
    MCD, IPPLF, CVX Tue, Apr. 8, 2:07 PM Inzkeeper 77 Comments

    Summary

    • Why I have been moving to a more protectionist strategy.
    • What will happen to my portfolio if my largest holding goes bankrupt.
    • What we can learn from a more realistic scenario.
  • Actually It Is All About Total Return...Totally!
    BNS, CVY, HYG Tue, Apr. 8, 7:34 AM Dale Roberts 158 Comments

    Summary

    • It's a simple mathematical fact, $2 million buys more income than $1 million, the goal should then be accumulating the highest portfolio value within your risk tolerance level.
    • Why are many dividend growth investors essentially adopting a spending strategy in the accumulation phase?
    • It's time to separate the accumulation phase and the spending phase.
    • Making the transition from accumulation to spending is a very simple process for a knowledgeable investor.
  • BDCs And The Russell Indices: Part 2
    ACAS, AINV, ARCC Tue, Apr. 8, 7:28 AM BDC Buzz 38 Comments

    Summary

    • Since February 24, 2014 BDCs have dropped 7% due to concerns related to being excluded from certain indices.
    • If BDCs are removed from the Russell indices it could lead to declines in institutional ownership.
    • Some BDCs could be experience higher volatility due to changes in ownership.
  • The Tortoise Strategy: Part 16 - CM Dividend Is 4.07%. You Can Get 7.61% If You Buy Now
    CM Tue, Apr. 8, 6:00 AM Richard Berger 9 Comments

    Summary

    • This is part 16 in a continuing series on building a dividend income equity portfolio with lower market risk and boosted yield using covered option writing.
    • Canadian Imperial Bank of Commerce is evaluated for value and yield boost using covered option writing.
    • After completing an inverted head & shoulders pattern on February 27th, shares broke out higher, consolidating now in a channel from $85.00 to $86.80. Long-term support is at $81.75.
    • An attractive dividend income equity with slow growth, the 4.07% dividend can be converted to 7.61% yield today.
  • The Tortoise Strategy: Part 17 - Icahn Enterprises Owners Can Boost Yield 131%
    IEP Tue, Apr. 8, 6:00 AM Richard Berger 30 Comments

    Summary

    • This is part 17 in a continuing series on building a dividend income equity portfolio with lower market risk and boosted yield using covered option writing.
    • Icahn Enterprises L.P. is evaluated for value and yield boost using covered option writing.
    • Historical performance of this activist investor conglomerate has been dazzling, but blinds some investors to some fundamental flaws.
    • IEP is overvalued. Market cap is $11.67 billion and Net Asset Value at 12/31/2013 was $9.13 billion, a 27.82% premium to the NAV, based on Icahn's own calculations.
  • Dividend Growth Portfolio: Spring Checkup And Semi-Annual Review
    DRI, SJR Tue, Apr. 8, 1:22 AM David Van Knapp 101 Comments

    Summary

    • Dividend Growth Portfolio (DGP) is a real portfolio, funded by the author, designed to demonstrate dividend growth investing.
    • The main goal of the portfolio is to generate growing dividends from excellent companies that raise their dividends regularly.
    • The portfolio has a long-term outlook, and it is managed in a way that tries to ignore short-term market noise.
    • Going on 6 years old, the DGP is on track to meet its long-range goals.
  • Q1 2014 Update: My Whistler Income And Growth Portfolio
    BAX, BIDU, F Mon, Apr. 7, 4:16 PM Canadian Dividend Growth Investor 22 Comments

    Summary

    • Managing my own income and growth portfolio requires periodic reviews.
    • Part of my quarterly review is to check sector allocation to determine if too much capital is allocated to 1 specific sector.
    • Another part of the review is to check dividend allocation to ensure I'm not getting too much dividends from 1 specific sector.
  • The 8th Deadly Sin: Chasing Yield
    RSH, GE, WIN Mon, Apr. 7, 10:05 AM Income Surfer 46 Comments
  • BDCs And The Russell Indices
    ACAS, AINV, ARCC Mon, Apr. 7, 7:22 AM BDC Buzz 103 Comments

    Summary

    • Since February 24, 2014 BDCs have dropped due to concerns over institutional holdings.
    • Investors will ultimately flee to higher quality BDCs over the next two months.
    • Currently BDC prices are impacted most by pricing concerns and trading volumes.
  • Goodbye Fed - 2014 Sees Preferred Stock Investors Shed QE Jitters
    BAC, DLR, GDP Mon, Apr. 7, 7:10 AM Doug K. Le Du 18 Comments

    Summary

    • 98 investment grade preferred stocks now available for less than $25.
    • March price action implies complete QE exit already being "priced in" by preferred stock investors.
    • Average yield for 40 highest quality preferred stocks now at 6.8 percent.
  • Designing An mREIT Stock Portfolio To Lower Price And Dividend Volatility
    AGNC, CMO, NLY Mon, Apr. 7, 4:25 AM Mourad Zarouri 13 Comments

    Summary

    • Last year was brutal for the mREIT sector and although we've seen improvements in 2014, we are still in a rising rate environment and strong headwinds remain.
    • Despite spreading the risk over multiple stocks in the sector mREIT, ETFs like REM did not fare much better and suffered big losses.
    • mREIT companies like NLY tried to reposition their portfolios for the rising rates and market uncertainty but could not react fast enough to avoid a big book value hit.
    • Using a basket of stocks like NLY, CMO, STWD, that strategically balances your mREIT portfolio over sub-sectors of the mREIT market, significantly reduces both stock price and dividend volatility.
  • My Dividend Portfolio: Q1 2014
    FAST, KO, MCD Sun, Apr. 6, 7:50 AM Integrator 29 Comments

    Summary

    • High market valuations provide limited opportunities for new investment for dividend investors.
    • Selective large cap dividend stocks such as KO, MCD and FAST still appear to offer reasonable return.
    • MCD's slower rate of revenue and dividend growth may give some pause for investors.
  • In Like A Lamb And Out Like A Lion
    ABT, AET, APA Sat, Apr. 5, 12:03 PM George Acs 26 Comments

    Summary

    • The stock market responds with optimism to dovish monetary sentiment.
    • The basis of the stock market's climb may be susceptible to predatory selling.
    • Upcoming earnings season may further exploit market fragility.
  • Weekly Intelligence For MLP Investors
    EMES, NGLS, GLP Sat, Apr. 5, 8:52 AM MLPData 10 Comments

    Summary

    • Proppants propel MLPs to a +2.27% weekly gain.
    • 23% of the MLP universe hit a 52-Week High during the week.
    • Fund Flows near $1B this week, the highest tracked to date.
    • Aggregate market cap for MLPData universe is at a record $618B.
    • IRS expands MLP universe with another favorable ruling, 3 new Sponsors register to drop down LPs.
  • ECA Marcellus Trust I - Still An Expensive Natural Gas Pure Play
    Editors' pick ECT Fri, Apr. 4, 4:01 PM Daniel R Moore 10 Comments

    Summary

    • ECT units current trade at a 1.74 multiple of the 12/31/2013 PV-10, comparatively high to industry peers.
    • Supportive natural gas derivative contracts expired in March 2014, a negative for distributions beginning in August 2014.
    • A model of expected future distributable Trust income shows the current unit traded value is unrealistically high relative to market risk.
  • Stress Free Portfolio: Q1 2014 Results
    BA, BRK.B, CAT Fri, Apr. 4, 3:32 PM Nicholas Ward 35 Comments

    Summary

    • The Stress Free Portfolio achieved a 3.56% Alpha, posting a 4.86% quarterly increase.
    • This is me, documenting my journey in portfolio management towards financial independence via a DGI/value based strategy.
    • An overview of quarterly regrets and lessons learned.