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Brad Kenagy  

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  • ETF To Avoid: Tuttle Tactical Management U.S. Core ETF [View article]
    Thank you for the comment David, but I would like to point out that the majority of the TUTT portfolio holdings and highly correlated to each other. In the event of a major correction investors are completely dependent on the speed that the portfolio manager can switch from having for instance triple leveraged equity exposure to say cash or short-term bonds to prevent capital losses is a fine need to thread.
    Mar 27, 2015. 11:12 AM | Likes Like |Link to Comment
  • ETF To Avoid: Guggenheim S&P Global Dividend Opportunities ETF [View article]
    Thank you for the comment. The reason to own an international income fund is for diversification. For example SDIV has 30% of its assets in US stocks, so you still get a large chunk of US exposure, and yes there is currency risk because the fund owns stocks denominated in other currencies, but this can easily be fixed by paring SDIV with a strong dollar hedge like UUP or USDU.
    Mar 27, 2015. 11:04 AM | 1 Like Like |Link to Comment
  • ETF To Avoid: Tuttle Tactical Management U.S. Core ETF [View article]
    Thank you for the comment, to me there is only an extremely small difference between SPY and IVV for instance, and that extremely small difference to me does not warrant buying both funds. Better off just picking IVV for both strategies because it is slightly cheaper than SPY, and by owning just one fund that cuts down on transactions costs.
    Mar 27, 2015. 10:54 AM | 1 Like Like |Link to Comment
  • ETF To Avoid: Tuttle Tactical Management U.S. Core ETF [View article]
    Matthew,

    Thank you for taking the time to review my article, and thank you for providing information on some of the issues I brought up. I like your idea of putting somewhere on the fund overview page that says the fund "may own leveraged ETFs" because a large number investors never read a prospectus.

    I believe that your true competitors are not GTAA, MATH, and DWAT and in fact are the funds I listed in my article which include GMOM, and EFFE which are not static, as well as all the static multi-asset allocation ETFs as well as iShares allocation suite.

    The table below shows that the competitors you listed all have not gained hardly any assets, where as GMOM and EFFE have more assets than all three and were just launched at the end of 2014. MATH and GTAA were launched years ago, and don't have the assets and In my opinion are at risk of being shutdown.

    Start Date AUM
    GMOM 11/4/2014 $39.90
    EFFE 10/23/2014 $17.22
    DWAT 10/1/2014 $7.49
    MATH 6/22/2011 $16.46
    GTAA 1/25/2010 $12.69

    Again, thank you for posting, and I really appreciate the time you took to review my article and write a response. I look forward to your future ETF launches and will see if any of those tactical strategies fit my investment objectives.
    Mar 27, 2015. 10:51 AM | Likes Like |Link to Comment
  • ETF To Avoid: Guggenheim S&P Global Dividend Opportunities ETF [View article]
    Thank you for the comment, I'm glad my article was useful for you.
    Mar 27, 2015. 10:18 AM | Likes Like |Link to Comment
  • ETF To Avoid: Guggenheim S&P Global Dividend Opportunities ETF [View article]
    Thank you for the comment, and I completely agree with everything you said.
    Mar 27, 2015. 10:18 AM | 1 Like Like |Link to Comment
  • ETF To Avoid: Guggenheim S&P Global Dividend Opportunities ETF [View article]
    Thank you for the comment. If you are OK with consistent capital losses in exchange for yield go ahead and own LVL. However, you could get close to the same yield with SDIV at half the cost, and not suffer the capital losses.
    Mar 26, 2015. 02:15 PM | 3 Likes Like |Link to Comment
  • ETF To Avoid: Tuttle Tactical Management U.S. Core ETF [View article]
    Thank you for the comment, I agree with you completely, and as I stated in my article why would the fund own two plain vanilla S&P 500 funds [SPY, IVV], or two Triple Leveraged S&P 500 funds [UPRO, SPXL]. The fund could save on expenses by owning the lowest cost of each, and save on transaction fees.
    Mar 26, 2015. 02:11 PM | Likes Like |Link to Comment
  • Joy Global: Headwinds Point To Another 5 Years Of Underperformance [View article]
    Thank you for the comment, and posting your DCF analysis. My DCF analysis I came up with a fair value of $34.86 which is close to your estimate as well.
    Mar 25, 2015. 12:24 AM | 1 Like Like |Link to Comment
  • ETF To Avoid: Tuttle Tactical Management U.S. Core ETF [View article]
    Thank you for the comment, I am a big supporter of ETFs, for the most part ETFs are great when used properly, however there are some funds that investors should be skeptical of. There are some good fund of fund ETFs but they are very few of them.
    Mar 24, 2015. 10:11 PM | Likes Like |Link to Comment
  • ETF To Avoid: Tuttle Tactical Management U.S. Core ETF [View article]
    Thank you for the comment. I think a fund that holds TWO plain vanilla S&P 500 funds, and 6 other variants of the S&P 500 including triple leveraged ETFs is not worth considering.
    Mar 24, 2015. 10:10 PM | Likes Like |Link to Comment
  • T-Mobile: The Preferred Way To Own Shares Long-Term [View article]
    Thank you for the comment, your math is correct if you were to convert now. However, the fact is you can not convert now because the mandatory conversion date is in December 2017, therefore you have to add in all the future dividend payments you would receive, which is what I did to calculate the total return.

    http://bit.ly/1HwyJJv
    Mar 24, 2015. 10:41 AM | Likes Like |Link to Comment
  • Whiting Petroleum to launch offerings for 35M shares, $1B in senior notes [View news story]
    I like that ancient proverb lol, that is a good one.
    Mar 23, 2015. 11:57 PM | Likes Like |Link to Comment
  • Whiting Petroleum to launch offerings for 35M shares, $1B in senior notes [View news story]
    I think you misunderstood me, Just because a company is influenced by a commodity price, that does not mean that company has a high GOVERNANCE risk. The score takes into account: Board Structure, Shareholder Rights, Compensation, and Risk Oversight.

    For example, Chevron and Schlumberger have a score of 1 [Low Governance Risk], and Exxon who is a rumored acquirer of WLL has a score of 4.

    http://bit.ly/1xYCvpP
    Mar 23, 2015. 11:45 PM | 2 Likes Like |Link to Comment
  • Whiting Petroleum to launch offerings for 35M shares, $1B in senior notes [View news story]
    One tool I use, and have used when writing articles is to look at the free Corporate governance score from the ISS [Institutional shareholder services]. Looking at WLL they have score of 10, which corresponds to a high governance risk.

    http://bit.ly/1OtJr91
    Mar 23, 2015. 10:26 PM | 1 Like Like |Link to Comment
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