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Ian Bezek  

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  • How Much Kinder Morgan Is Too Much For A Dividend Growth Investor? [View article]
    Thanks Mike. The PRO paywall thing does block good conversation sometimes.
    Jul 28, 2015. 07:53 PM | 1 Like Like |Link to Comment
  • How Much Kinder Morgan Is Too Much For A Dividend Growth Investor? [View article]
    I personally wouldn't buy it at nearly any price, as I much prefer other gas/MLP plays and already have sufficient sector weighting in my own accounts.

    If I were looking to buy KMI -- high 20s probably. I don't think it deserves all that much premium to something like ETP which already yields in the 8% range.

    Yields on commodity plays should be high -- to justify the exceedingly high risk -- if the shale boom goes and stays bust, the sector will get crushed. Bankrupted E&P players won't be driving traffic through the system and marginal wells won't be drilled while old wells' production drops sharply. Being a "toll road" business does little to protect you if traffic on your road nosedives.
    Jul 28, 2015. 12:15 PM | 1 Like Like |Link to Comment
  • Is There A Dividend Bubble: Kinder Morgan Edition [View article]
    Agreed, buffalo.
    Jul 28, 2015. 12:06 PM | Likes Like |Link to Comment
  • Is There A Dividend Bubble: Kinder Morgan Edition [View article]
    "Can these people, who do this for a living, all be wrong?"

    Yes, they could be
    Jul 28, 2015. 12:05 PM | 1 Like Like |Link to Comment
  • How Much Kinder Morgan Is Too Much For A Dividend Growth Investor? [View article]
    Good article. I wouldn't sell here if you weren't willing to sell over $40 months ago though. Nothing has changed fundamentally; market is just now finally pricing in that KMI is not immune to the oil/gas bust. The $40+ pricing was kinda crazy given the industry storm, this is a much more reasonable price. I'd still say it's a "sell" here, but I wouldn't be pounding the table to sell it like I was when it was trading much higher.
    Jul 28, 2015. 11:51 AM | 4 Likes Like |Link to Comment
  • The Oracle Of Bogota: Why I'm Bullish On Grupo Aval [View article]
    Colombian Peso one of the world's weakest currencies last couple months with oil in the dumps. ADR will struggle until the Peso stabilizes.
    Jul 24, 2015. 05:43 PM | Likes Like |Link to Comment
  • Dividend Growth Investing Is Crucial For Your Children [View article]
    "if you will take the challenge to share the importance of dividend growth investing with someone you love."

    Indeed -- this sounds like something I saw in one of those documentaries about how they train missionaries.
    Jul 8, 2015. 05:02 PM | 4 Likes Like |Link to Comment
  • The Case Against Preferred Shares - Wealth [View article]
    I agree 6% total return isn't great. But many DGI folks claim to not care about total return. 6% YOC that grows to 10% YOC within 10 years is pretty impressive... for those that like the YOC metric.

    If it's "all about the income" as some authors around here say, preferred stocks offer a pretty compelling choice.

    If that verbiage is rather a stated reason for in fact not buying growth stocks, then that would be a significantly different thing now, wouldn't it?
    Jul 7, 2015. 06:38 PM | 1 Like Like |Link to Comment
  • The Case Against Preferred Shares - Wealth [View article]
    If you reinvest the dividend into more preferred shares, as Eli did in his article, you end up with a 6% yield growing at 6% a year. Compared to a say, T, or ED, that puts up a solid fight on the growing income front...
    Jul 7, 2015. 06:05 PM | Likes Like |Link to Comment
  • The Case Against Preferred Shares - Wealth [View article]
    DG investors don't believe in total return. Only income counts. ;)

    Interesting that if this commonly cited belief were actually carried out to its logical end, DGIers would heavily own pref shares instead of the normal CCC equities.

    I'd be curious to hear more why DGI folks, particularly ones who don't care about total return, aren't big on owning preferred shares. Logically, it should be an asset class that DGIers like.
    Jul 7, 2015. 04:29 PM | 3 Likes Like |Link to Comment
  • Why Chevron Is At Least 25% Overvalued [View article]
    Thomas, it's Yahoo's data, which is trailing. TRI will be in for a big suprise when earnings get cut in half this year.
    Jul 7, 2015. 12:09 PM | 2 Likes Like |Link to Comment
  • Cheetah Mobile: An Undervalued Mobile Company With Great Opportunities [View article]
    I like CMCM, but I'd never defend it on valuation grounds. Was exceptionally expensive trading in the mid-30s. Here at 20, you can make a case for it again.
    Jul 7, 2015. 10:58 AM | Likes Like |Link to Comment
  • Why Chevron Is At Least 25% Overvalued [View article]
    Because book value is an inerrant measure of value when the price of the commodity you sell drops 40%?

    You might review how investing in gold miners at "book value" over the past 3 years has gone. Cliff notes summary: Badly.
    Jul 6, 2015. 11:09 PM | 9 Likes Like |Link to Comment
  • Why Chevron Is At Least 25% Overvalued [View article]
    Your dividend doesn't continue into the indefinite future if they don't spend on Capex. Free Cash Flow is a useful metric, particularly in this industry.
    Jul 6, 2015. 11:07 PM | 3 Likes Like |Link to Comment
  • Why Chevron Is At Least 25% Overvalued [View article]
    Of all the names you pick, Linn is your example? Stock is down, what, 70% since the bears laid out the short case, and everything regarding aggressive accounting and doubts about management were right on point.
    Jul 6, 2015. 11:06 PM | 12 Likes Like |Link to Comment
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