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Paul Wagner  

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  • These Are Future Dividend Champions, My Friends [View article]
    Mike..nice job. A list of great companies. I have a feeling that for most, 2009 was the only years earnings failed to be greater than the prior year.
    Sep 1, 2015. 01:06 PM | Likes Like |Link to Comment
  • Tiffany: The Only Specialty Retailer You Can Hold For Life [View article]
    Tim: "Even though it's only been a quarter, we can see that the Starbucks coffee brand is superior to the Folgers coffee brand because it can raise prices and grow volumes simultaneously."

    Are you comparing two different things to bolster an argument that doesn't need bolstering? Ground coffee sold by the pound in grocery stores and coffee drinks sold in finished form in restaurants. Are those dynamics comparable?
    Aug 29, 2015. 06:22 PM | 2 Likes Like |Link to Comment
  • Get Your Smart Beta Here! Dividend Growth Stocks As 'Strategic Beta' Investments [View article]
    I had a dog we thought had kurtosis, as her tail was heavy at the bottom, but it turned out the lab results had been skewed and she was fine. What a relief.
    Aug 27, 2015. 10:28 AM | 4 Likes Like |Link to Comment
  • Normal Valuations Are The Real Worry, Not China [View article]
    In 2014, investors had a choice of cash with zero return, Treasuries with nominal returns or equities with double digit returns. There was a huge opportunity cost of holding cash or Treasuries.

    Now, the choice is cash with zero return, Treasuries with nominal returns or equities with negative (total) returns. Some of us will maintain our equity exposures and bide our time, collecting dividends while we wait for multiples to shrink, as risk-sensitive investors stay away in view of the opportunity cost of holding equities. I don't believe there are catalysts to drive positive equity total return until the valuation correction has completed its work.
    Aug 26, 2015. 08:58 PM | 6 Likes Like |Link to Comment
  • The Curious Case Of Canada [View article]
    That may have set the record for the longest paragraph in the history of SA. It's permissible to hit "return" every once in awhile.
    Aug 26, 2015. 07:27 PM | 4 Likes Like |Link to Comment
  • The Curious Case Of Canada [View article]
    All the Canadians I've rented from have at least two condos in the Phoenix area..one where they spend winter and one that they rent out during the peak season.
    Aug 26, 2015. 07:20 PM | 1 Like Like |Link to Comment
  • What Value Are Credit Ratings? [View article]
    Heather...I didn't understand "Peritus views credit as either "AAA" or "D" ". Could you explain what that means.

    While I'm not a fan of the agencies' ratings (why so many A-- or B-- ratings for one thing?), I do know that a ratings system helps to communicate in shorthand. When I presented my portfolio of secured exposures to executive credit committee (which included, BTW, a current Fed president and a current CEO of a major health care REIT), a rating scheme of 4 distinct ratings helped me to present the high level review, with detailed narratives covering specific exposures. Use of the ratings helped to make the presentations more efficient, without impairing a focus on the important relationship, whether the importance was a function of their size or of their operating trends.

    Of course each debt issue deserves fundamental credit analysis by the creditor and that seems to be the point of your article. Is that your main point? If I asked you for a meaningful, high level report on the risk characteristics of your portfolio, what form would it take, without using agency ratings?
    Aug 26, 2015. 07:08 PM | 1 Like Like |Link to Comment
  • The Curious Case Of Canada [View article]
    The Baron..very unfortunate that you weren't above taking the bait, thereby spoiling your integrity as an author.

    I have a large position in Gildan (GIL) and I like Canadians. I've rented condos in Arizona from Canadians who took advantage of a strong Canadian dollar and a depression in real estate prices in the States several years ago.
    Aug 26, 2015. 01:29 PM | 3 Likes Like |Link to Comment
  • Get Your Smart Beta Here! Dividend Growth Stocks As 'Strategic Beta' Investments [View article]
    advisor...you've convinced me, although I'm shocked you don't have more letters after your name. As for me, I have a BA in history from a great college few have heard of, a 25-year career with just one company where I managed a 10-figure portfolio of secured debt and 18.5 years of retirement with my income coming solely from profits on my stock investing.

    It's that last part of my CV that you apparently don't find to have any meaning. That's not surprising, because you haven't done it and can't believe someone actually has. So, whatever I say, you denigrate as evidence of nothing.

    What you defend is what you have read somewhere. What's that old saying: "those who can, do,............."
    Aug 26, 2015. 09:31 AM | 8 Likes Like |Link to Comment
  • Get Your Smart Beta Here! Dividend Growth Stocks As 'Strategic Beta' Investments [View article]
    rhiannion.. there is a real good chance that you and I have different definitions of "capital gain stocks". The stocks that I invest in with the expectation that almost all of my profit will be in the form of capital gains (as opposed to dividend income) aren't "risky" stocks that have to be monitored closely. Actually, they are excellent companies -- it's just that their dividend yields aren't great. One of the companies I mentioned is Mastercard (MA)-- hardly a company you need to watch every day.

    To get a sense of what I consider a "capital gain stock", read the first several paragraphs of my article on GIL, here: http://bit.ly/1zf5RAs
    Aug 26, 2015. 08:23 AM | 2 Likes Like |Link to Comment
  • Get Your Smart Beta Here! Dividend Growth Stocks As 'Strategic Beta' Investments [View article]
    Dave...18.5 years retired and not one regret.

    I had the same feeling of freedom on the day I retired as I had the last day of each school year and as the day I got my ETS papers from the Army. Now I have that same feeling every single day.
    Aug 25, 2015. 05:43 PM | 4 Likes Like |Link to Comment
  • Is The Heat Of This Correction Too Much? Get Out Of The Kitchen Or Start Nibbling Now [View article]
    George...now about that 600 point bounce. Reality bites, doesn't it? :=)>
    Aug 25, 2015. 05:02 PM | 1 Like Like |Link to Comment
  • Get Your Smart Beta Here! Dividend Growth Stocks As 'Strategic Beta' Investments [View article]
    advisor..."best of luck with your decision.". Gee, thanks. Is this 1997 and have I just started on a retirement with no pension, no Social Security, no job, no business except my investment business? I just want to thank you because I'm sure that is why I've been successful. Still no pension and still no Social Security. Imagine.

    You are truly something special, even if you have no talent for investing.
    Aug 25, 2015. 04:50 PM | 6 Likes Like |Link to Comment
  • Get Your Smart Beta Here! Dividend Growth Stocks As 'Strategic Beta' Investments [View article]
    Dave...great comment. I would just add that capital gain goals can extend just as long into the future as DG objectives. My relationships with ROP and ROST are already over 15 years old and I'm expecting more capital gains over the next several years as well. On the other hand, I made a lot of money with a trading vehicle, NVDA, years ago and when it stopped being a trading vehicle I exited and have never gone back.

    I invested in MA for the same, long range cap gains objective and more recently GIL. These companies' dividends are merely incidental. I have a little investment in PII now with the same objectives.

    There are DG investors whose business plan doesn't include a portfolio with room for a pure cap gains investment. I admire their religious devotion to their dividend objectives, but it's just never been in my nature to have a narrow focus.

    Investing is such an individual pursuit, in so many aspects.
    Aug 25, 2015. 02:07 PM | 3 Likes Like |Link to Comment
  • Is The Heat Of This Correction Too Much? Get Out Of The Kitchen Or Start Nibbling Now [View article]
    George...I'll simply stick with my point that, the overnight snap back to the contrary notwithstanding, there may be better opportunities than yesterday's in our future.
    Aug 25, 2015. 09:42 AM | Likes Like |Link to Comment
COMMENTS STATS
3,130 Comments
6,396 Likes