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Mike Nadel  

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  • The Dumbest Argument Against Dividend-Paying Stocks [View article]
    Zugz:

    You say "there is nothing reliable" about the income from Aristocrats/Champions. I would contend that the income from them is likely more reliable than share price growth is from most stocks. And that's what I deal with, likelihood. Is it more likely that JNJ or PEP will be growing their dividends 20 years from now or more likely that FB or TSLA will be growing their share prices? My choice would be the dividends, but it's OK if you disagree.

    I do agree with you completely about those who throw out financials. Unfortunately, we can't throw them out. It's like saying, "The Vikings played great defense against the run if you throw out those three 80-yard touchdown runs by Walter Payton." Unfortunately for the Vikings, those TDs counted.

    Mike
    Aug 1, 2015. 02:04 PM | 3 Likes Like |Link to Comment
  • The Dumbest Argument Against Dividend-Paying Stocks [View article]
    Bob:

    Also, Dave Fish says 80% of Dividend Champions neither cut nor eliminated their dividends during the Great Recession.

    Mike
    Aug 1, 2015. 11:31 AM | 3 Likes Like |Link to Comment
  • Introducing The Tactical Dividend Growth Portfolio And Workshop (Part 1) [View article]
    AA:

    I don't believe in jinxes. I talk about no-hitters as they're going on all the time!!

    Mike
    Aug 1, 2015. 11:25 AM | Likes Like |Link to Comment
  • How Much Kinder Morgan Is Too Much For A Dividend Growth Investor? [View article]
    rhia:

    I just skimmed through his two articles and I'll read them through tomorrow. But you do know that he doesn't write about KMI or invest in KMI, right?

    He writes about the integrated and/or E&P oil companies, and that will be useful, but not especially in the context of what I'm talking about here. Unless I'm missing something.

    Mike
    Jul 31, 2015. 11:44 PM | Likes Like |Link to Comment
  • Introducing The Tactical Dividend Growth Portfolio And Workshop (Part 1) [View article]
    Dave:

    According to Yahoo, HON also had a nice DG stretch from 1991 into 2000, but it was pretty sketchy before '91. That's a long time ago, though. I'd be pretty satisfied with HON's history if I were considering a position -- and I am.

    Do you own it?

    Mike
    Jul 31, 2015. 11:32 PM | 2 Likes Like |Link to Comment
  • Differing Outlooks On The Market [View article]
    Thanks BT.

    I would guess that for TROW to really stay profitable, it would need those who leave a company that had a TROW 401k (and there are plenty) to then move those funds to TROW IRAs. And you're right, Morningstar does seem to indicate that is the case. So maybe I'm short-changing TROW's moat.

    When I think of deep moat, I think of industry leaders. And I see lists with Fidelity, Vanguard, Schwab and several others ranked well ahead of TROW in business. But maybe that definition is too narrow.

    Morningstar is in the moat-declaring business, so I certainly would take their definition over mine!

    Curious, are you long TROW? It seriously is on my list, though I dropped it down a few months ago.

    Mike
    Jul 31, 2015. 11:23 PM | 1 Like Like |Link to Comment
  • Avoiding The Endowment Effect: Should Mike Sell? [View article]
    Damn, Paul, now I'm trying to decide between KMI and some leggings!!!

    Mike
    Jul 31, 2015. 11:19 PM | 3 Likes Like |Link to Comment
  • Avoiding The Endowment Effect: Should Mike Sell? [View article]
    six (re MO):

    Fair point.

    Mike
    Jul 31, 2015. 11:18 PM | 1 Like Like |Link to Comment
  • Avoiding The Endowment Effect: Should Mike Sell? [View article]
    six, Chowdah:

    KMI's fundamentals changed. Maybe not as severely as COP's did, but they changed.

    Also, six, I confessed in my article and in a long comment here that I didn't have much of an "investment thesis" when I bought KMI. I wasn't very savvy yet and I bought KMI (and KMR) because SA people I considered knowledgeable bought it and because it (and KMR) paid a great, growing dividend. I had never heard of Value Line. I didn't know how to find an Standard & Poor's credit rating. I lacked knowledge and, frankly, I probably was too lazy to invest in any company, let alone one as complex as KMI.

    So yes, my investment thesis on KMI (and every company) has changed. I have the ability and will to construct an investment thesis now!

    Mike
    Jul 31, 2015. 11:17 PM | 1 Like Like |Link to Comment
  • The Dumbest Argument Against Dividend-Paying Stocks [View article]
    R:

    I steadfastly pursue having more than enough to live a stress-free, financially secure and fun retirement for me and my wife and to leave a financial legacy to my heirs. I am 99.99999% sure I will accomplish that.

    What percentage of the American public do you think can honestly say they will successfully reach that level of financial ALPHA?

    Mike
    Jul 31, 2015. 10:35 PM | 5 Likes Like |Link to Comment
  • Market Timing Is Not Appropriate For Retired Investors [View article]
    rayvt:

    We will have to agree to disagree.

    Have a good weekend. I know I'm going to be spending my weekend making sure my wife didn't sneak behind my back, locking in my losses!

    Mike
    Jul 31, 2015. 04:58 PM | 3 Likes Like |Link to Comment
  • Differing Outlooks On The Market [View article]
    ga:

    TROW was a finalist of mine a few months back when I was trying to decide what to buy after I sold WMT. It is a better value now.

    Besides wishing it had a better yield (though it's better now because its price has declined), my main problem with TROW is that I don't see the moat as being as wide as M* says it is. I don't see TROW as being particularly special at what it does. Is it bigger or better than Vanguard, Fidelity or several others in that space? I don't dislike TROW, I just am not convinced.

    Wouldn't mind being proven wrong -- I do like where its valuation is getting to be.

    Mike
    Jul 31, 2015. 04:49 PM | 1 Like Like |Link to Comment
  • Introducing The Tactical Dividend Growth Portfolio And Workshop (Part 1) [View article]
    Great stuff, Adam.

    I know STON isn't for me, and I'm going to have to check out AIR, but this reminded me that I wanted to look more closely at HON to see if I wanted to move it up on my watch list now that I have a little cash available from my recent sales of BAX and BXLT.

    In my research, I uncovered this little gem:

    Did you know that HON has either beaten or met earnings expectations for 40 consecutive quarters dating back to Oct 2005? It might be more than that; that was as far back as Fidelity's chart went. Pretty impressive. That includes 7 straight beats and 16 of 17 (with the other being met expectations). Wow. That's what I call rare reliability.

    Pretty darn good company. I can see why you picked it No. 1, my friend!

    Mike
    Jul 31, 2015. 04:36 PM | 2 Likes Like |Link to Comment
  • The Dumbest Argument Against Dividend-Paying Stocks [View article]
    ronrph:

    Great point.

    About 60% of the portfolio my wife and I own is in DGI-type companies. About 10% is in Vanguard Wellington, a venerable stock/bond balanced fund. About 10% of our assets (in a 401k) are in a "stable-value" fund that is guaranteed to grow at least 3% per year; just found out that it will be 4% for the next six months. About 15% is in cash (including our emergency fund). About 5% is in bonds and "other."

    That is quite a bit different from, say, Chowder, who has every penny except his emergency cash invested in dividend-growing companies.

    And yet we both consider ourselves DGI practitioners.

    Investor X is perfectly comfortable loading up on BDCs, mREITs and MLPs. I have very little exposure there. Yet we both consider ourselves DGI practitioners.

    There's a lot of wiggle room under the DGI umbrella. I agree with Zugz that it is basically a form of value investing, and there is even more wiggle room under that umbrella.

    Mike
    Jul 31, 2015. 03:45 PM | 2 Likes Like |Link to Comment
  • My Second Quarter 2015 Portfolio Review - Building Quality, Income And Dividend Growth [View article]
    Boom:

    I love that!!!

    Mike
    Jul 31, 2015. 03:35 PM | 1 Like Like |Link to Comment
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