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  • REITs: Look Out Below? [View article]
    Thanks for your article, Adam. I think you are very much on target. The Bernanke "taper tantrum" was brutal for REITs a couple of years ago, but it provided a great buying opportunity. I reluctantly sold O and NNN during the big runup that followed. They are both now back in the batter's box, waiting for the scenario you describe to unfold. I added shares of WPC this week.

    I think S&P was right to announce that they are preparing to consider REITs as a separate S&P sector. One can take advantage of these sentiment changes via sector rotation, which I believe has extended this overall bull market. Within various sectors, there have been mini-bear markets and mini-super bull markets.

    All the best!
    May 3, 2015. 07:41 AM | 2 Likes Like |Link to Comment
  • Recent Trade: Sold 2 Oil Majors And Bought W.P. Carey [View article]
    Good article, Nicholas. Thanks for sharing your reasons for the trade. I've never held shares of BP but I'm long CVX and WPC. WPC is now the largest holding (5.8%) in my retirement income portfolio after I added some shares this week at the 6% yield point. I haven't followed BP, so I can't comment about that sale. I'm not inclined to sell CVX at these levels. I believe the dividend will be maintained and that they will raise it, if only slightly, sometime in calendar year 2015. However, I am more confident that WPC will continue its long streak of quarterly increases. So, while I share the reluctance of some other commenters about selling CVX, I think you found an excellent entry point for buying a stellar REIT. Live long and prosper!
    May 3, 2015. 07:36 AM | 3 Likes Like |Link to Comment
  • Recent Trade: Sold 2 Oil Majors And Bought W.P. Carey [View article]
    Paul, I've held WPC for many years. It is the best performer by far in my portfolio. REITs and UTEs are cousins but not identical twins. I've been an investor in both for many years and it has been my observation that while there is a partial correlation, the sectors do not trade in lock-step. They are both influenced by the interest rate factor, but that is tempered by REITs unusual tax advantage, their ability to raise rents in an inflationary economy, and the absence of profit regulators.

    WPC has raised the dividend every quarter for many years. IMO, I don't think you will see REITs in general (and WPC in particular) mirror the performance of utilities.

    If Elon Musk succeeds in freeing everyone from dependence on the electric grid, REITs will be beneficiaries. Whether UTEs benefit will depend on how entrepreneurial they are and how fully they embrace alternative energy. :-)

    All the best to you!
    May 3, 2015. 07:30 AM | 4 Likes Like |Link to Comment
  • Chevron Is Taking Advantage Of The Pessimism [View article]
    Thanks for a helpful snapshot of the current situation, and the advantages of being an integrated company during this period.
    May 3, 2015. 07:15 AM | 1 Like Like |Link to Comment
  • Dividend Champions For May 2015 [View article]
    Thanks, David. You make life easier for many of us!
    May 2, 2015. 08:59 PM | 2 Likes Like |Link to Comment
  • My First Quarter 2015 Portfolio Review [View article]
    Good work as usual, Bob. I'm always inspired by your clarity of goals and your discipline of execution. I hope you're enjoying this glorious Spring. All the best!
    May 2, 2015. 08:49 AM | 3 Likes Like |Link to Comment
  • W.P. Carey: My Favorite Pick For A REIT Right Now [View article]
    Nicholas, I'm hesitant to say too much about WPC. It presents a compelling value because it (amazingly) continues to fly "under the radar." It has been my best and most consistent performer. I added some shares this week at the 6% level.
    May 2, 2015. 08:42 AM | Likes Like |Link to Comment
  • Chevron Hasn't Frozen Its Dividend Yet [View article]
    Good points, Robert.

    I'm grateful to have a maestro like David Fish to keep up with these matters. I can divert my limited brain cells to other endeavors. :-)
    May 2, 2015. 08:37 AM | 3 Likes Like |Link to Comment
  • No Need To Freak Out About Chevron's 'Frozen' Dividend [View article]
    I agree, Eric. There are other things ahead of this on my "freak out" list. I'm long CVX and I follow David Fish so that I don't have to keep up with companies dividend streaks on a quarter-by-quarter basis.
    May 1, 2015. 10:34 AM | 2 Likes Like |Link to Comment
  • Chevron Hasn't Frozen Its Dividend Yet [View article]
    Nice chart, Eli. Good background. Successful oil companies must think long term rather than quarter-to-quarter.
    May 1, 2015. 10:30 AM | 6 Likes Like |Link to Comment
  • REITs can't catch a bid as averages slide [View news story]
    Nice name!
    May 1, 2015. 09:57 AM | Likes Like |Link to Comment
  • Don't Buy Procter & Gamble, Buy Microsoft Instead [View article]
    Now that's what I call a long position!
    Apr 21, 2015. 09:52 PM | 7 Likes Like |Link to Comment
  • Why I Said Don't Buy Procter & Gamble, And Why I Changed My Mind [View article]
    The article cites a year-over-year quarterly comparison that is a bit dated. This is from their January 27 news release: "The Procter & Gamble Company (NYSE:PG) reported second quarter fiscal year 2015 core earnings per share of $1.06 versus $1.15 the prior year." PG's next quarterly earnings release will be in two days--Thursday, April 23rd.
    Apr 21, 2015. 09:48 PM | 1 Like Like |Link to Comment
  • Kinder Morgan: 2015 Dividend Growth Target Of 15% Reaffirmed [View article]
    Thanks, Banker. I think they are both great companies.
    Apr 21, 2015. 07:23 AM | Likes Like |Link to Comment
  • Kinder Morgan: 2015 Dividend Growth Target Of 15% Reaffirmed [View article]
    Fern, before making an assessment of your mental state, I would want to know where you have the other 73%. :-)
    Apr 18, 2015. 05:52 PM | 2 Likes Like |Link to Comment