Seeking Alpha

Mark Gottlieb

 
View as an RSS Feed
View Mark Gottlieb's Comments BY TICKER:
Latest comments  |  Highest rated
  • AmTrust Financial Services: A House Of Cards? [View article]
    The preferred shares of Maiden were a great deal before today and I suspect a much better deal now. Sounds like this was market manipulation to me.
    http://bloom.bg/1kE8m7O
    Dec 12 06:47 PM | 3 Likes Like |Link to Comment
  • AmTrust Financial Services: A House Of Cards? [View article]
    I wouldn't be surprised if AmTrust and Maiden bounce back a lot tomorrow.
    Dec 12 06:46 PM | 2 Likes Like |Link to Comment
  • Some Preferred Shares That Offer 6% To 9% Dividends [View article]
    Nice articles. It seems the lower coupon preferred stocks are getting clobbered way more than the higher coupon ones (e.g. dlr.pg at 20.09 off from its 25 IPO) with all the fear of rising rates. I was lucky to shield the overall decline this year with higher coupon preferred stocks 7-10% (e.g. VLY_PA, MT_PA, MH_PA, MRH_PA, KFN.P, SAN_PE, AHL_PA). Most are investment grade or in the BB area with their bonds/notes rated investment grade. I picked up some more VLY_PA with what I perceive as little risk at pennies above par including its recent X Div (it had partial calls last year and earlier this year). I was lucky to pick up more MT_PA when it dropped to 24.96 earlier this year (8 1/2% coupon).
    Sep 5 05:52 PM | 2 Likes Like |Link to Comment
  • Bonds: Short-Term Risk, Long-Term Opportunity [View article]
    Good article. The economy still appears weak. The big question is how much fixed income assets will leave fixed income and come into stocks as investor follow past returns which isn't a great idea. The contrarian in me thinks bonds may not be such a bad investment at these levels given the economy. Glad Jeff Gundlach of DoubleLine feels the same way.
    Aug 5 05:49 PM | 2 Likes Like |Link to Comment
  • Ameren Genco Bonds Crushed [View article]
    Now S&P has cut the rating on Ameren Genco to CCC- following the lead from Fitch. See http://tinyurl.com/atd... S&P projects that in the event of a default, bondholders would recover 50 to 70 percent of what they are owed. All eyes will be on the Ameren earnings/announcements on 2/20. GENCO appears to have been a spinoff- see http://tinyurl.com/ap4...
    Feb 8 06:59 PM | 2 Likes Like |Link to Comment
  • Ameren Genco Bonds Crushed [View article]
    GENCO bonds are pretty much priced for default. Edison Mission defaulted and their bonds aren't much lower than GENCO bonds. The last news from Ameren on this situation was on 12/20/12. See http://bit.ly/V1VRdc Everything after this in terms or reports and downgrades from S&P, Moodys, and Fitch has been based on the rating services' interpretation of GENCO's financial situation. It wouldn't surprise me if these bonds move up strongly on 2/20/13 when Ameren earnings are reported and there is no talk of GENCO missing the next interest payment which is months away or defaulting. If Ameren simply walks away from its commitments to its subsidiary Ameren Generating Co., I definitely could see a lawsuit. It would almost remind me of the good bank bad bank theory where the hard hit banks would have loved to have divested all their bad loans into a bad bank while keeping their profitable operations in the good bank. Recent big blocks of the Ameren 7s and 7.95s could be distressed investors buying the bonds cheap.
    Feb 7 04:45 PM | 2 Likes Like |Link to Comment
  • GeoInvesting Responds To Bronte Capital On AmTrust [View article]
    MHNC also is a great buy in my opinion- Maiden Holdings reinsures AFSI and dropped with AFSI.

    Investment grade exchange debt security- 11/18/13 IPO was at 25, currently 20.70 and 9.36%. I haven't seen anything this attractive in fixed income since I was scooping up investment grade European banking and telecom bonds last year in the 9-10% range. http://bit.ly/UPACHN
    Dec 29 09:10 PM | 1 Like Like |Link to Comment
  • Nearly 8% Yield On Maiden Holdings Investment-Grade Exchange-Traded Debt Security [View article]
    I picked up some more Maiden on Friday, 7 3/4s at 20.70 (symbol MHNC) which came out at 25 about 1 month ago. Nice deal, 9.3% for this investment grade security.
    Dec 25 10:34 PM | 1 Like Like |Link to Comment
  • AmTrust Financial Services: A House Of Cards? [View article]
    Another great buying opportunity for MHNA today.
    Dec 18 01:59 PM | 1 Like Like |Link to Comment
  • Bonds: Short-Term Risk, Long-Term Opportunity [View article]
    http://bit.ly/13LefZ1
    Morningstar good to see discounts for Closed End Funds in the and average discounts.
    Aug 6 08:33 PM | 1 Like Like |Link to Comment
  • Bonds: Short-Term Risk, Long-Term Opportunity [View article]
    Interesting article
    http://on.barrons.com/...
    Aug 6 08:10 PM | 1 Like Like |Link to Comment
  • Ameren Genco Bonds Crushed [View article]
    Party at Wireless Tech's house! LOL I'm glad I didn't sell these.
    Mar 14 05:05 PM | 1 Like Like |Link to Comment
  • Ameren Genco Bonds Crushed [View article]
    Genco bonds have been trending up since the Ameren call yesterday. I don't think a default is imminent nor immediate. They were priced for default. The 7.95s were around 52 on the offer pre meeting and are closing in on 56 on the offer. We'll have to see what happens- a Genco sale or restructuring, etc. I suspect they'll be making the next interest payment while they seek the best options.
    Feb 21 02:57 PM | 1 Like Like |Link to Comment
  • Ameren Genco Bonds Crushed [View article]
    A few weeks ago, a financial intelligence site at http://bit.ly/VJXNo4 had this link http://tinyurl.com/a9l... where they felt Ameren Genco is being tipped for a restructuring as parent Ameren looks to exit the merchant business. It goes on to say since Ameren did not specify how it wants to exit and there was speculation there would be a sale of some or all of its generating assets similar to the auctions of facilities under PPL Montana and Dominion. Also see http://tinyurl.com/afb... re the PPL Montana plants and http://tinyurl.com/a4p... re the Dominion plants which reportedly both have potential suitors. It wouldn't surprise me if Ameren expresses interest in a sale of Ameren Genco assets on their 2/20 earnings call.
    Feb 8 07:43 PM | 1 Like Like |Link to Comment
  • Reinvigorated AIG, An Insurance Leader Trading At About 50 Cents On The Dollar [View article]
    You are quite welcome.
    Oct 22 10:57 PM | 1 Like Like |Link to Comment
COMMENTS STATS
47 Comments
23 Likes