Seeking Alpha

Brad Kenagy

 
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  • Potential Targets For Activist Investors [View article]
    Thank you for posting. The only comment I have is that an activist investor is most likely the only one who would be able to break through the defenses that are in place. For instance Carl Icahn alot of times goes in and wants to change part of the board of a company.
    Jul 22 04:19 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    Ok that is it! I have pride in my work! You can question my work all your work, but when you start attacking personally, now you have crossed a line. All you are is a comment troll, move on to someone else to troll on. The only comment from you I will respond to is if you here anything back from ISS, other than that you get my "ignore" button. Good luck investing and trolling on someone else.
    Jul 21 09:08 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    Thank you for contacting ISS. In the future, you would be well advised to read more carefully, as my disclaimer at the end of my article states:

    "The commentary does not constitute individualized investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities.

    The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. The information provided is not intended to be a complete analysis of every material fact respecting any strategy. The examples presented do not take into consideration commissions, tax implications or other transactions costs, which may significantly affect the economic consequences of a given strategy.

    This material represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any security in particular."

    http://seekingalpha.co..."
    Jul 21 07:53 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    No I did not look individually past what the ISS said, and the ISS scored the four companies as having poor takeover defenses. I trust the ISS because they use publicly available data to compile there score. That is the investors job for doing their Due Diligence, any further than that.

    This is my last message on this subject:

    Red Flag=Poor Defenses against a takeover.
    Green Flag= Strong Defenses against a takeover.

    End of story, moving on to other projects, and If you have a problem I suggest you write your own article or instablog on the subject.

    Good luck in your investing.
    Jul 21 05:53 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    All you provided was a link to the ISS homepage, was there something there I am supposed to see?

    Here is the link to the DISCA page

    http://bit.ly/1yQMKhu
    Jul 21 04:54 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    Im sorry, you are wrong!! red flag means poor takeover defenses, I dont know why you cant see that. I looked through all your comments on previous articles, and they are overwhelmingly negative, so please move on because Red flag=weak defenses, green=strong defenses... end of story.
    Jul 21 03:22 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    Im sorry, but I disagree that my conclusions are flawed, the ISS clearly states that if a company has a red flag next to a category it means it had a poor score. Not much clearer than that. I'm sorry if you can not see that.

    One of the main points of an activist investor is to be able to change a companies corporate governance culture to make the company more shareholder friendly.
    Jul 21 01:35 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    I did not proclaim it, I said "each of my final four companies has poor governance as measured by ISS" I did not say I personally believe that, I did say that based on the ISS data they have weak takeover defenses, and that you should dig deeper for yourself. Also, would you please disclose if you are long or short DISCA, KSU, SJM, SWK.
    Jul 21 01:09 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    I have to disagree with you on the red flag, right on the ISS Page Describing what a red flag means: "The total number of points in this subcategory is at the bottom of the possible range."

    http://bit.ly/1yQMKhu

    The ISS is not warning of Strength, it is warning of Weakness. That is why for instance under the shareholder right section DISCA has a score of 10, which means that is the lowest possible score.

    I'm sorry, but the ISS lays it out pretty clearly, and they are an independent source, therefore I believe you are mistaken.
    Jul 21 12:46 PM | Likes Like |Link to Comment
  • Potential Targets For Activist Investors [View article]
    Thank you for the comment. I went by what the Institutional Shareholder Services website says because they have the expertise in governance. Also as I stated at the end of my article "I believe these four companies are worth a deeper look" What you described to me was a deeper look. So good job for doing your Homework :)
    Jul 21 11:05 AM | Likes Like |Link to Comment
  • Projecting Bond Total Returns For Rising Rates [View article]
    Thank you for your comment. As I showed above, in the last part of my article when rates spiked in 2013, the two TIPS funds had negative returns because inflation was relatively low. The average rate of inflation for May 2013-Dec 2013 was 1.45%. If you go the the website for example for (NYSEARCA:STIP) you see that the "real yield" is negative -0.82%, Therefore based on that, inflation rates would have to be rising significantly, where as the last time rates spiked inflation was relatively flat.
    Jul 20 10:32 AM | 1 Like Like |Link to Comment
  • Projecting Bond Total Returns For Rising Rates [View article]
    There are a couple funds that are Similar to HYLS as well, and I have listed them below. Using my formula and scenerio HYLS gets a projected total return of +0.42%. You can see using my calculator I created here:

    http://bit.ly/1qfHcwD

    (BATS:HYHG) High Yield-Interest Rate Hedged ETF
    (AGND U.S. Aggregate Bond Negative Duration ETF
    (NASDAQ:AGZD) U.S. Aggregate Bond Zero Duration ETF
    (BATS:IGHG) Investment Grade-Interest Rate Hedged ETF
    (NASDAQ:HYND) High Yield Bond Negative Duration ETF
    (NASDAQ:HYZD) High Yield Bond Zero Duration ETF
    Jul 19 09:26 PM | 1 Like Like |Link to Comment
  • Projecting Bond Total Returns For Rising Rates [View article]
    No it assumed a stable price for simplicity.
    Jul 18 07:20 PM | Likes Like |Link to Comment
  • How Much Money Are You Planning To Lose In Your Bond Portfolio? [View article]
    Thank you for your comments. Much appreciated. 130 basis point higher in one year is not a stretch the least bit, rates went from 1.63% in May 2013, to 3.03% in December 2013, so in 7 months rates went up 1.40% so a scenario where rates would rise 1.35% in one whole year is completely possible.
    Jul 18 05:02 PM | Likes Like |Link to Comment
  • Projecting Bond Total Returns For Rising Rates [View article]
    Thank you for your comment. The $10000 is hypothetical investment. I dont understand what you are saying about not using the drip calculation once a month, because I never said anything about the DRIP Factor being calculated monthly. I clearly showed that I calculated it using the total of the last 12 months. Nothing is exact and I would not expect the performance to match exactly, just get close which I have done by adding the DRIP Factor, instead of just using duration.
    Jul 18 02:57 PM | Likes Like |Link to Comment
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