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Joe Eqcome

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  • CEF Weekly Review: Equity On Top [View article]
    WKirk,

    I have scrolled the new current weekly and the week of 10/28/12 (where I haven't been participating on SeekingAlpha.)

    The returns are for 11 Weekly reports. There has been 7 weeks where the returns are predictive. The weeks were negative for -0.2% and predictive for +0.9%--a net benefit of 1.1%.

    Returns were somewhat predictive of potential positive return--with a twist.

    I'll be reporting it in the upcoming reports.

    Joe Eqcome
    Jan 29 01:28 PM | Likes Like |Link to Comment
  • CEF Weekly Review: Equity On Top [View article]
    Wkirk,

    The negative spreads (PrcNAVSprd) is a calculation between the current “PremDisc” against the historical one (the week I'm using is one week) in comparing the positive or negative spreads between the two.

    The positive PrcNAVSprd is an indication that the share price has gone up with the NAV in comparison with the two week average. This may be a negative surprise.

    The negative PrcNAVSprd has gone down as share prices to NAV. This may be a positive surprise. Stocks prices have gone-up as negative sentiment as oppose to positive sentiment from the top 10 percent.

    The difference is that stocks price momentum may be improving and the stock price is anticipating that the NAV may move-up. Or dividend can increase shareholders attention. Also, unreasonable NAV can cloud the picture.

    We feel we have a reasonable hand on the coming and going of the CEFs—but mistaken are made.
    Jan 28 12:52 PM | Likes Like |Link to Comment
  • CEF Weekly Review: Templeton Emerging Markets [View article]
    Larry3993,

    EMF has a yield of 2.2% and it has gotten beaten up by EMB over the year. The stock gain for EMF has beaten the EMB for nearly 3 months. EMB has USD emerging market bonds and EMF has equity.

    You might want to get a share of EMB into EMF. The shares are 87% equity.
    Jan 22 05:50 PM | Likes Like |Link to Comment
  • CEF Weekly Review: Templeton Emerging Markets [View article]
    whmitch,

    The PCEF was a reasonable investment when I make it a couple of times. While its a nice yield, I'm going to scale out of it now as rates are going up and reducing my position to a sub-nominal rate.

    Please be careful because interest rates are rising when the fed cap comes off.
    Jan 22 05:34 PM | Likes Like |Link to Comment
  • CEF Weekly Review: Templeton Emerging Markets [View article]
    JJSky123

    I didn't buy it because of 14.2% and It seemed to be that REITs have had there share of success.
    Jan 22 05:24 PM | Likes Like |Link to Comment
  • CEF Weekly Review: ING Emerging Markets High Dividend [View article]
    Jannari11,

    The reports for the weekly comments are usually a 2,500 to 3,500 users apiece.

    The reports comments on recent weekly CEFs transaction regarding position, premium and PrcNAVSprd. The high and low regarding the CEFs are weekly offered.

    If you don't like the report, please don't use it.

    We have others who find it of value.

    Joe Eqcome
    Dec 10 04:13 PM | Likes Like |Link to Comment
  • CEF Weekly Review: New Germany Fund [View article]
    thaiseadog,

    The new website is coming in December/January.
    Let me know if your going to be a Beta site?

    Joe Eqcome
    Nov 28 11:05 AM | Likes Like |Link to Comment
  • CEF Weekly Review: Cohen & Steers Quality Income Realty [View article]
    Chamois16,

    The Kayne Anderson price was NAV $26.44 for November 16, on XKYNX (http://yhoo.it/S60UYR).

    The pricing fell from -1.4% and the NAV fell to -7.2% for a 5.8% updated.

    I was using the text that was generated. Your prices may have seen higher as a % changes.

    Joe
    Nov 19 10:42 AM | Likes Like |Link to Comment
  • CEF Weekly Review: Cornerstone Funds Stung By Articles In WSJ, Barron's [View article]
    Unknow,

    Your last dividends payments cause the stock to goes down 4.5% YTD. That's 7.0% for the industry on average.

    Good luck!

    Joe
    Nov 19 10:04 AM | Likes Like |Link to Comment
  • CEF Weekly Review: Taiwan Fund [View article]
    Either my fault or the editors fault for not getting in the full text of what I entered.

    "Focus Stock(s) of the Week: Taiwan Fund (http://bit.ly/U2JdG1) is our best pick of the week. The annual dividend will likely be preceded in the month of December and be payable in January. The weekly share price was down 2.2% and the current NAV was up 1.0%. This will take the PrcNAVSprd down about 3.2% (normally good)."

    Alan Young, thank for having be back!

    The annual distribution level does not need a negative -$0.36. All that may be needed is a distribution level that is annual. There is no distribution level for which a -$0.36 level is mandatory.

    By the end of the December month we will see if the annual distribution is available.

    Best,
    Joe Eqcome
    Nov 4 06:03 PM | Likes Like |Link to Comment
  • Why Large Cap CEFs Are Significantly Undervalued: ADX, GDV, TY, And ZF [View article]
    gcmagone,

    I wouldn't disagree with your conclusion if you were focused on owning a package of taxable-debt oriented, leveraged CEFs.

    The proposition outlined in the article is more a play on movement of large cap equities which would respond differently in an environment of rising interest rates.

    The large cap CEF portfolio offered here might be an opportunity to add some diversification to your CEF holdings by augmenting it with an equity component.

    However, if you feel rates may never come down, PCEF is the one stop stock for participation in a leveraged taxable portfolio of CEFs.

    Regards.
    Jul 19 05:07 PM | Likes Like |Link to Comment
  • ADX Vs. GUT: Fundamental Analysis Isn't Ideal For CEF Share Price Valuation [View article]
    mykie,

    Sales loads as you've indicated don't apply to CEF as they are publicly traded stock that are bought and sold on the stock exchange.

    To buy shares of a CEF you would have to have a brokerage account and commission for some of the on-line brokers are $10.00 or less per. So, this would not be a concern.

    They are all subject to management fee that are reasonable. Go to http://bit.ly/o4ngfR and you'll be able to find the expense ratio for each of the CEFs.

    I hope this is helpful.

    Regards
    Jul 18 06:57 PM | Likes Like |Link to Comment
  • ADX Vs. GUT: Fundamental Analysis Isn't Ideal For CEF Share Price Valuation [View article]
    mykie,

    The only dumb question is the one you don't ask.

    My sense of it is that since both are CEFs the likelihood that any of these barriers, to which you make reference, wouldn't likely have a meaningful impact.

    This may be a issue if one was a closed-end fund and the other was an ETF.

    I hope I've interpreted your question correctly. If not, try again

    Regards.
    Jul 12 07:50 PM | Likes Like |Link to Comment
  • Why Large Cap CEFs Are Significantly Undervalued: ADX, GDV, TY, And ZF [View article]
    MickVonMerk,

    CEFs market segment is tiny and as a result is not on most peoples radar screens. So, this may be a investment "backwater" that receives less investors' attention.

    Approximately 2/3's of the $282 billion is considered fixed-income oriented. The balance equity oriented.

    The Eqcome CEF Index is 130 CEFs that have been in operation for an extended period of time and a second series of 58 that have been in continuous operations since the late 70's.

    Regards
    Jul 12 02:41 PM | Likes Like |Link to Comment
  • Why Large Cap CEFs Are Significantly Undervalued: ADX, GDV, TY, And ZF [View article]
    jdbunn,

    Let's take the example of a CEF that is trading at $10 per share and whose NAV is $10 per share (trading at par), it is paying an annualized $0.80 per share dividend and whose expense ratio is 1% on total net assets of $500 million.

    In this situation the metrics for are similar for both the market based valuation as it is relative to it NAV.

    Now, let's assume the stock is trading at a 10% discount. The stock price is now $9 per share vs $10 NAV per share. As you can see all the valuation on the stock market capitalization ratcheted higher than calculation based on NAV.

    The market value yield is 8.9% ($0.80 / 9.00) and the expense ratio is now 1.1%--although the dollar amount remains the same as expense ratios are typically based on NAV.

    I hope this is helpful.

    Regards

    Jul 12 02:27 PM | 1 Like Like |Link to Comment
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