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Brad Kenagy

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  • Free Cash Flow Champions Part 1: Oracle [View article]
    Thank you for the comment. I should have been a little more clear, the fair value is my target for over the next 5 years.
    Oct 2 10:49 AM | Likes Like |Link to Comment
  • Free Cash Flow Champions Part 1: Oracle [View article]
    Part 2 of my article is now posted:
    Oct 1 03:27 PM | 1 Like Like |Link to Comment
  • Free Cash Flow Champions Part 1: Oracle [View article]
    Thank you for the comment, I will take a look at that.
    Sep 30 10:21 AM | Likes Like |Link to Comment
  • United Rentals: Poised For Long-Term Growth [View article]
    No because URI is in a capital intensive business so of course there debt is going to be high because they have to purchase the equipment upfront, and are paid back over the life of the machine.
    Sep 30 10:20 AM | Likes Like |Link to Comment
  • Can The Alerian MLP ETF And Its 8% Expense Ratio Really Be Trusted Anymore? [View article]
    You are only looking at the performance in good markets, look at the performance of AMLP compared to other ETFs and NOT MLP ETNs because of the structure of ETNs. Because all MLP ETFs that have more than a 25% allocation to MLPs are structured as a C-Corp just like AMLP. I have been a shareholder since right after the inception for AMLP. 5%+ Dividend yield, and because the fund takes out money for taxes it has lower volatility than other MLP funds. Which is what I was looking for out of the investment knowing about the deferred tax liability, something with a high income, and low volatility

    Here is a quote from a Zacks article:

    "Lower volatility results from its ability to reverse some of deferred tax liabilities when the market is down.";_ylt=A0SO8xot8ilUu1EA...

    From the Prospectus :

    "Potential Substantial After-Tax Tracking Error from Underlying Index Performance. As discussed above, the Fund will be subject to taxation on its taxable income. The NAV of Fund Shares will also be reduced by the accrual of any current and deferred tax liabilities. The Underlying Index however is calculated without any deductions for taxes. As a result, the Fund’s after
    tax performance could differ significantly from the Underlying Index even if the pretax performance of the Fund and the performance of the Underlying Index are closely correlated."

    The prospectus clearly spells out that there will be a difference between the return of the fund and the index. KNOW WHAT YOU OWN. If you, or your broker are not willing to do the simple research to find out what you are owning, then I would recommend sticking to plain vanilla stock funds to avoid any confusion.
    Sep 29 08:02 PM | 4 Likes Like |Link to Comment
  • Market At New Highs, Go Bear Hunting: Sears Holdings [View article]
    SHLD Down 37.45% since my article was published.
    Sep 26 06:02 PM | Likes Like |Link to Comment
  • Please Help Us Pick Next Week's Outstanding Performance Award Winners [View article]
    I think Randy Carlson with his multiple pieces on Tesla (TSLA).
    Sep 17 10:19 PM | Likes Like |Link to Comment
  • Protect Your Portfolio And Profit When Equity Markets Are Declining With The New CDS ETF [View article]
    Very good article, WYDE has been on my watchlist for a longtime, and I wrote an article on WYDE after it was launched.

    So far what I have observed is that WYDE is inversely correlated to Credit spreads, as they are designed to be. WYDE has fallen as spreads have tightened since its inception, and TYTE has profited because of the falling spreads.
    Sep 3 11:03 PM | Likes Like |Link to Comment
  • Playing Defense With ETFs [View article]
    Good article, I had similar findings on what asset classes to own during a market pullback. I wrote an article at the end of July that focused on ETFs that performed the best in market pullbacks over the last four years. What I found was that a portfolio of the following had the best chance to outperform the market during a pullback:

    Defensive Stocks: Guggenheim Defensive Equity ETF (DEF)
    Long-term Bonds: Vanguard Long-Term Bond ETF (BLV)
    US Dollar: PowerShares DB USD Bull ETF (UUP)
    Sep 3 10:49 PM | Likes Like |Link to Comment
  • STMicroelectronics: A Play On Mobileye Growth [View article]
    Yes you are correct margins and profits have been disappointing, However! I believe with STM, the trend will be your friend. The last five quarters Net Income:

    Q2 2013: -$152
    Q3 2013: -$142
    Q4 2013: -$36
    Q1 2014: -$24
    Q2 2014: +$95

    So, over the last five quarters STM has gone from negative net income to a positive net income in the last quarter. With 5 consecutive quarters of increasing net income, future growth from Mobileye, 4% dividend yield.

    Disclosure: I am NOT long shares of STM, but may initiate a position after Mobileye earnings tomorrow.
    Sep 3 08:46 PM | Likes Like |Link to Comment
  • United Rentals: Poised For Long-Term Growth [View article]
    Thank you for the comment. Any site I have found has only EPS estimates out 5 years, and as I said above I like to conservatively estimate the fair value of companies.
    Sep 3 08:24 PM | Likes Like |Link to Comment
  • United Rentals: Poised For Long-Term Growth [View article]
    Because I wanted to use a "worst case scenario" I wanted to be conservative on my estimate. If the shares are slightly undervalued with conservative assumptions then if those assumptions are relaxed the shares would be even more undervalued.
    Sep 3 05:46 PM | Likes Like |Link to Comment
  • FlexShares RAVI: Beating PIMCO At Its Own Game [View article]
    Very good point, that is the trade off of MM equivalent ETFs, they can rise and fall, but the yield is higher than MMs. Just depends on someones risk tolerance, and preferences.
    Sep 2 05:41 PM | Likes Like |Link to Comment
  • FlexShares RAVI: Beating PIMCO At Its Own Game [View article]
    Thank you for the comment. I specifically said in my article that I was using price returns. I got contacted by someone from PIMCO about not using Total Return data so I collected the total return data and sent it back:

    Data I found on TOTAL RETURNS for each of the three time periods I looked at.

    -Bottom to Top: RAVI 0.39%, MINT 0.33% -- RAVI outperformed MINT by 18.18%

    -Top to bottom: RAVI 0.80%, MINT 0.51% --RAVI outperformed MINT by 56.86%

    -Overall: RAVI 1.74%, MINT 1.46% -- RAVI outperformed MINT by 19.18%
    Aug 29 09:49 AM | Likes Like |Link to Comment
  • Triangle Capital to pay an extra nickel dividend [View news story]
    You are completely wrong! The offering was announced on August 11th Closing Price: $27.64 current Price $27.10 so stock is down only 1.95% from when the offering was announced.

    From SEC filing for TCAP:

    "We may offer shares of common stock at a discount to net asset value per share in certain circumstances. On May 7, 2014, our common stockholders voted to allow us to sell or otherwise issue common stock at a price below net asset value per share for a period of one year ending on the earlier of May 7, 2015 or the date of our 2015 Annual Meeting of Stockholders."

    BDCs, REITs, and MLPs all have secondary offerings. If you dont understand the risks associated with those assets classes then you should not be investing in them, and I would suggest you stick to plain vanilla stocks like those that make of the Dow.
    Aug 27 11:26 AM | Likes Like |Link to Comment