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  • SA Contributor Community: End Of Summer Update [View article]
    Hi Colin,

    Very interesting and informative article regarding Seeking Alpha's desire and ability to attract prominent financial commentators.

    Congratulations on attracting some very influential people.

    I have learned more from the so called regular "joe's" here at SA than all the pros on CNBC. Of course I have learned from the highly educated here at SA also.
    I do like the fact SA is attracting the brightest young and older financial minds to share their experience.

    I would like to see Jeremy Siegel contribute his thoughts on the current market and his latest ideas concerning dividend stocks.
    Sep 22 12:13 AM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi bobmags,

    I am not familiar with AI. Personally I could not invest in a company that dropped 98%. I do not care what they have done recently.


    When I look at AGNC's entire history and know the team running AGNC are the best and the brightest in my opinion I am very comfortable with them. I have skin in this game. I have a very large position. Not sure what else I can say.

    Good luck to you.
    Sep 21 11:07 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi Scott,

    Thanks Scott. I enjoyed writing this article. You have taught me the majority of what I know regarding AGNC. I have learned a little more here and there, however you have been my best teacher.

    I look forward to your next article on AGNC. I am glad you enjoyed this article.
    Sep 21 11:02 PM | Likes Like |Link to Comment
  • Analyzing Prospect Capital Corp.'s Recently Restructured Control Investments And Its Impact On NII [View article]
    Hi High Yield Drip,

    In my opinion, Scott does not mind his work pertaining to this article being questioned/audited as he is a partner for a global accounting firm.

    In my opinion he does not appreciate being insulted. Since he was asked for help to explain his calculations I feel that he should be appreciated for the time and effort he spent doing so.
    Sep 21 06:32 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Packer,

    They are going lower from the past 30 years from an unusually high level in history. You are cherry picking a point in time. Lets look at a longer time frame. From 1870 -1970 for 100 years the 10 year never went above 6%. Look at he historical
    Mean: 4.63%

    I am sure you can come up with a reason why the next 10-20-30 years are going to be a higher rate environment, however I will disagree, what I see looking at a 144 year chart of the 10 year note is a 10 year anomaly from 1978-1988 approximately where rates were insanely high. Take out those 10 years and look at the chart.
    http://bit.ly/u1OK2z
    Remember Michael Farrell the CEO of NLY passed away and the company has never been as well managed. He was a genius. The new team are not as capable as he was.
    That is why I own AGNC. Kain and his team are very sharp in my opinion.
    Sep 21 05:51 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi keelac,

    See my comment above to ppars.

    MTGE is a good investment, however I am more comfortable with AGNC since they have more Agency MBS.
    Sep 21 05:21 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi ppars,
    Thanks for reading and leaving a positive comment.
    I think Kain is referring to interest rates NOT spiking almost 90% in a couple of months ( spike in rates, fast and high, speed and magnitude) like they did in 2013. The odds of that happening are remote. Please look at the 10 year rates in 5/2013 and note they peaked a little above 3%.
    http://on.mktw.net/1sf...

    I quoted myself from this article below to show that rates can spike, however I do not think it is very likely to happen as fast (time frame) and as high a % move up (90% increase).
    Think about it, rates would have to move up to almost 5% from current levels in 2 months time to repeat 2013. That is not going to happen in my humble opinion.
    " The interest rates will eventually rise. I believe management is well-prepared for the eventual rise in interest rates. No one knows exactly when it will happen and it might take longer than most expect. I suspect it will stay lower longer than most think. This is my contrarian point of view.

    There is a very low probability of rates rising as fast and as high (percentage wise) as in 2013, in my opinion. Additionally, if rates do rise quickly and the percentage increase is anywhere near 2013, AGNC will be better prepared for this possibility since they are in a much more defensive mode.

    AGNC has no credit risk, however, they have interest rate risk."
    Sep 21 05:18 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi rmr01,

    Thanks for reading my article. If you are scared you should not have too much or very little invested in a stock or sector. See my first article on AGNC http://bit.ly/WUIIqP

    I have a large % of my portfolio in AGNC and KMR which is tied to the performance of the MLP KMP. KMR will be converted to KMI (not an MLP by the end of this year). See my article on KMR/KMI. http://bit.ly/1wVy1DA

    I would suggest you read Scott Kennedy's articles on AGNC. He also covers several other mREITs including NLY lately.

    He explains how interest rates rising or falling will affect the sector. Good luck to you.
    Sep 21 09:02 AM | Likes Like |Link to Comment
  • Mortgage REITs higher as American Capital and Annaly maintain dividends; rates slip [View news story]
    Hi William,

    I am really tired and about to go to sleep. I have been answering questions on my article.

    Drop (net dollar roll income) is not taxable because it is off balance sheet (TBA MBS). When dollar roll income was on balance sheet it was taxable income. I think I am correct, you can check this out and let me know.

    You stated:

    "that means that... only 43% the Q2 dividend was "taxable" ?? 0.28 divided by 0.65. ??"

    In Q2 AGNC used ERTI and UTI to pay the dividend, therefore 100% was taxable. They did NOT use drop to pay the dividend.

    I believe that AGNC will make a decision of how the ROC in Q3 2014 will be applied to shareholders taxes, Q3 or a portion spread out over all 4 quarters in 2014.

    Scott will explain more.
    Sep 21 12:26 AM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi Adam,

    I have calculated the current book value of AGNC. Obviously it is an estimate.
    I agree with you assessment.
    Sep 21 12:04 AM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi keelac,

    Yes AGNC is a major portion of my portfolio, you are correct and it keeps getting bigger.

    I do not like ETF's . REM has a terrible total return performance. Please do some due dillidence on REM.

    "Do you hedge the interest rate risk?"

    No Gary Kain and Peter Federico does that for me. They are much better than I or anyone else that I know.
    Sep 20 11:56 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi Pablomike,

    See my answer to you above. Although I am not sure what HTS discount to BV is currently, however I doubt it is anywhere near the level it was in 2013.
    Sep 20 11:47 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi bobmags,

    AI traded at $145 in 1997 and dropped to $3.08 in 2009, that is a 98% drop. That is why I would not touch that company with a 10 foot pole. Compare that to NLY and let me know what you find. I will give you a clue NLY was up over 300% from 1997 to 2009.
    Sep 20 11:41 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi Garypt1,

    Let me ask you a question. How high did rates go from 1997 to 2000. NLY had its IPO in 1997. NLY has been a good dividend income payer.

    If you are referring to rates going much higher than 6.5% -7%, I think that will be unlikely for a long time.
    Take a look at this graph. http://bit.ly/u1OK2z
    Sep 20 11:21 PM | Likes Like |Link to Comment
  • American Capital Agency Yields 11.75%; It Is An Excellent Income Investing Strategy [View article]
    Hi The Protected Trader,

    Thanks for reading and leaving a comment. Congratulations on owning AGNC since 2009 and having a zero cost basis. That is outstanding and I hope to be able to say that one day.
    Sep 20 09:30 PM | Likes Like |Link to Comment
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