Seeking Alpha
View as an RSS Feed

David Fish  

View David Fish's Comments BY TICKER:
Latest  |  Highest rated
  • The No. 1 Stock In The World - Part 3 [View article]
    COST also sells caskets and diapers...so it's a true cradle-to-grave retailer.
    Jun 6, 2015. 02:55 PM | 5 Likes Like |Link to Comment
  • The No. 1 Stock In The World - Part 3 [View article]
    "I was just thinking about WFM as an investment yesterday."

    Saw a blurb about the largest seller of organic food. It's not WFM; it's COST!
    Jun 5, 2015. 04:15 PM | 5 Likes Like |Link to Comment
  • 10 Reasons Why Growth Stocks Can Be Appropriate For Retired Investors [View article]
    "Only place I've heard that term"

    How about Gladys Knight and the Pips?
    Jun 5, 2015. 04:09 PM | 2 Likes Like |Link to Comment
  • The No. 1 Stock In The World - Part 3 [View article]
    "What happens to your investment when governments make smoking illegal?"

    Did you forget about the big tobacco settlement of the late 1990s? The fact is that taxes on cigarettes is probably the biggest cash cow to the federal and state governments, so making it illegal would be the equivalent of the government "shooting itself in the head." Repeatedly...like every moment of every day of every year.
    Jun 4, 2015. 05:55 AM | 40 Likes Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    KK,
    Thanks for that recap. Looking forward to the next declarations...:)
    Jun 3, 2015. 02:35 AM | 1 Like Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    "I thought it was Larry Swedroe or his Swed-heads that coined the magic pants phrase."

    I think it was Larry himself...and the dismissive "magic pants" comment suggested that DG investors were fooling themselves that dividends actually matter, saying something like "receiving a dividend is like taking a dollar from one pocket and putting it in another pocket," followed by the derogatory "Those must be magic pants!"
    It was all part of his ongoing mantra that "dividends don't matter" and "dividends are irrelevant" while insisting that Modern Portfolio Theory and the four- or five-factor model explains 90-something-percent of returns.
    He never seemed to answer the simpler two-factor model that Total Return = Price Change + Dividends accounted for 100% of returns.

    The whole "Magic Pants" dismissal seemed like his way of sticking his fingers in his ears and chanting "la-la-la-la-la..." in order to avoid hearing anything positive or logical about dividends.
    Jun 3, 2015. 02:32 AM | 9 Likes Like |Link to Comment
  • Happy Birthday! My Dividend Growth Portfolio's 7th Birthday Report [View article]
    "Form 8949. This form is used to support of information entered on Schedule D."

    Since my shares are in an IRA, I don't think I'll need to worry about this issue.
    But good luck with that!

    Looking now at my Fidelity account, it appears that the original basis of my BBL has been restored (not netted down) and the SOUHY basis is also as of 5/29/15 (a tad higher than first shown)...so it does appear that they are now treating it as a "taxable distribution," but fortunately, it's a moot point within the IRA.
    Jun 2, 2015. 06:35 PM | 2 Likes Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    It's possible that the BBL dividend could get "adjusted" for the spin-off. Fidelity assigned about 6.6% of my BBL basis to SOUHY, so if the $1.24 semi-annual rate were adjusted at the same ratio, it would be $1.158, or $2.316 annually...but that would still be a yield of 5.43% at today's BBL close of $42.66.
    Jun 2, 2015. 06:15 PM | 1 Like Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    "If one constructs a balanced portfolio, then sleeping at night becomes very, very easy. All of you folks investing with 1999 and 2008 on the forefront of your minds are going to make some very bad mistakes going forward and are going to leave LOADS of value on the table. THAT is the kind of thinking that can be dangerous, not the other way around."

    Unfortunately, this type of venue can lead to lots of mistaken impressions, which you seem to have fallen into. The "you folks" here are largely of the "fully invested" crowd, so we are NOT going to leave "loads" of value on the table or make "bad mistakes." But our collective experience has been that people who proclaim that they have 100% (or 98.5%) of risk taken care of have ended up with lots of (negative) surprises to deal with.
    Just sayin'
    Jun 2, 2015. 06:02 PM | 3 Likes Like |Link to Comment
  • Happy Birthday! My Dividend Growth Portfolio's 7th Birthday Report [View article]
    My Fidelity Rollover IRA showed an adjustment to the BBL cost basis and a corresponding cost basis for the South32 shares backdated to when I bought BBL in Dec. 2014.
    Jun 2, 2015. 05:43 PM | 1 Like Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    >>One can effectively eliminate ALL RISKS associated with equities thru: 1) diversification; and 2) maximizing time spent invested.<<

    I agree with Rich...this kind of thinking can be dangerous. What if your idea of diversification turns out to be buying a LOT of bad stocks??? What if you stay in those bad stocks indefinitely (hoping to get back above water)???

    Logically, the only way to eliminate ALL RISKS associated with equities is to never buy them. Of course, doing that means never profiting from them either...and potentially losing ground to inflation.
    Jun 2, 2015. 09:42 AM | 10 Likes Like |Link to Comment
  • Happy Birthday! My Dividend Growth Portfolio's 7th Birthday Report [View article]
    WSD,
    Lynch's book was a far-reaching lesson for individual investors and it's no surprise that he liked dividends. But it's interesting that he rose to fame during the '80s bull run and his fund owned literally thousands of companies, seemingly far more focused on Growth than Value (or Dividends). In fact, I think his success was widely cited by those who wanted to shift the industry focus away from dividends and individual stocks and toward funds and Growth investing. The '80s, of course, was such a strong Bull that "everyone was a genius" and continued into the '90s era of high tech and the NASDAQ bubble...along with obscene P/Es both for Dot-Coms and stocks like KO.
    Jun 1, 2015. 11:30 PM | 4 Likes Like |Link to Comment
  • Happy Birthday! My Dividend Growth Portfolio's 7th Birthday Report [View article]
    "Since the longest dividend increase streaks are about 60 years, I figured that it was in the 1950's that managed dividend policies -- which lead to increase streaks rather than dividends that bounce around with earnings -- began to be adopted by US companies."

    DVK,
    I think you have to go back further, as the NYSE ads of 1958/59 (with 10 straight years or more) indicate. For those 300+ companies to have qualified at the time, they would have had to start their streaks no later than 1948 and I doubt that they all started precisely then.

    I think those earlier dividend raisers were probably short-circuited by the 1970s bear market and recession. But the fact remains that investors focused on dividends for decades before the 1970s experience helped to launch the "growth stock" and mutual fund push of the 1980s, when discount brokerages began to flourish. Remember that a lot of the academic studies touting "factors" came around in the 1980s and early 1990s, when asset gatherers started to discourage dividend investing in favor of the expanding mutual fund industry and computerized trading morphed into day-trading. We all know how that ended!

    So the current interest in dividend growth is nothing more than a return to the traditional focus of individual investors, who have been bombarded for 20-30 years by the "academic/advisory" industry pushing mutual funds and ETFs and brokerages pushing profitable (for them) short-term trading over long-term investing.
    Jun 1, 2015. 05:49 PM | 7 Likes Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    "The dividend yield determines the amount a company pays out in dividends per year in relation to its share price. Conversely, the dividend payout ratio determines the amount a company pays out in dividends in relation to its net income."

    I think the wording is a little backward. In each case, I would replace "determines" with "is determined by" since the dividend that is declared/paid is the numerator that results in the yield and payout ratio calculation.
    Jun 1, 2015. 05:33 PM | 3 Likes Like |Link to Comment
  • Dividend, Yield, And Price: Inseparably Linked [View article]
    "Laredo Nuevo is a place where you can find some real action, though."

    Yeah, I stopped short of mentioning the other side of the border (which I visited while stationed at Ft. Hood). Interesting place, to say the least.
    Jun 1, 2015. 05:27 PM | 3 Likes Like |Link to Comment
COMMENTS STATS
8,619 Comments
31,073 Likes