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Roger Newman

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  • 4 Scary Charts Warning Of The Next Financial Crisis [View article]
    You are correct about default. As with the US, a default is merely theoretical.
    May 13 01:41 PM | 5 Likes Like |Link to Comment
  • A Unique Class Of Preferreds: The Perfect Income Security? [View article]
    Your comment about Auction Rate Preferreds is a good one. The advantage here is that the fund MUST redeem if the ratio falls below 2:1 and their collateral is common stock which, of course, is VERY liquid. TYG, for example, recently had a coverage ratio of over 10:1!
    Sep 8 10:38 AM | 5 Likes Like |Link to Comment
  • Annaly Capital gets new CFO [View news story]
    eltito, don't make the mistake of looking at your purchase price when making a decision. The correct decision (in addition to taking tax issues into account) is whether you would want to buy NLY at this price or is there a better place for your money. I am not giving an opinion but forward performance is the only thing that matters, not how much you may be behind...
    Aug 19 05:24 PM | 4 Likes Like |Link to Comment
  • American Capital Agency Corp.'s Detailed Dividend Sustainability Analysis [View article]
    Scott - I think we would all appreciate your updated analysis in light of this afternoon's earnings announcement...
    May 2 05:05 PM | 4 Likes Like |Link to Comment
  • MLPs And The Hidden Benefit [View article]
    Some people already know about this benefit but I thought that there were definitely people out there who did not. I am pleased that I could help you with your strategy on what is a great investment area!
    Jan 29 11:15 AM | 4 Likes Like |Link to Comment
  • Google Punkslaps Apple - Cook Makes Strategic Error [View article]
    You should all be using Waze, an app that has the best turn by turn directions I have used yet, in addition to traffic and police location info!
    Sep 21 02:08 PM | 4 Likes Like |Link to Comment
  • InterOil: Setting The Record Straight [View article]
    Are you stating that there will be a substantive decision when the NEC meets this week. I have long been frustrated by what's coming with IOC and it never does. I would appreciate someone making a call and standing by it.

    Also, I am somewhat of a novice with respect to SEC regulations but your statement "It would certainly make sense for Shell to buy up to 20% of InterOil's common stock in the open market" begs a question. Wouldn't RDS be required to file with the SEC if it acquires 5% of IOC. You seem to imply that they could acquire 20% in the open market but I'm not sure they can do that without full disclosure...
    Aug 20 12:27 PM | 4 Likes Like |Link to Comment
  • The Obama REIT: A Secure 7% Yield [View article]
    See for a better explanation on evaluating REITs and the use of FFO (Funds from Operations). Earnings are not a good measure for this type of entity. For the three months ending 9/30/12 FFO was $0.54 per share and the dividend appears safe.
    Jan 15 01:45 PM | 3 Likes Like |Link to Comment
  • This Pandora Rally Screams Caution [View article]
    I think that you miss the main thrust of the Act. Pandora is trying merely to pay no more than terrestrial radio. The artists have no say currently as the rate is mandated by the panel. I see no common sense reason why one distribution method (internet) should pay significantly more than another (terrestrial). Your analysis of access to songs is also misplaced. On Pandora a listener does not have the option of choosing a song or even a particular artist. The system provides the songs and, unless you subscribe, you may only "skip" a limited number of songs per hour. While you can certainly tailor your "station" you are still provided content by P, just as you are with radio. While I have my own concerns about P's business model, I think that you are not properly framing the argument here.
    Nov 27 03:01 PM | 3 Likes Like |Link to Comment
  • Opko Health: Shorting Is The Best Diagnosis [View article]
    I heartily agree with Pablo. You may choose not to be long OPK but to short it in the face of monthly purchases by Frost who could buy the entire float if he so chose? I doubt that you will see enough of a drop to make a short at these levels very profitable unless your timing is very good in light of its normal volatility. As they say, don't fight the fed and in this case, don't fight Frost, just choose not to participate.
    Jun 12 08:19 AM | 3 Likes Like |Link to Comment
  • A Unique Class Of Preferreds: The Perfect Income Security? [View article]
    Anathan, one more point. The coverage ratio here has nothing to do with market price and any premium or discount thereto. The ratio is calculated purely on NAV providing even more protection to the holder of these securities.
    Sep 8 12:04 PM | 3 Likes Like |Link to Comment
  • A Unique Class Of Preferreds: The Perfect Income Security? [View article]
    Thanks so much for your kind words Bob. It's easy to push normal dividend stocks as there really isn't much effort required in "discovering" them. I have long thought that finding "out of the box" opportunities will pay off in the long run.
    Sep 8 12:02 PM | 3 Likes Like |Link to Comment
  • A Unique Class Of Preferreds: The Perfect Income Security? [View article]
    Very true, modern computing has allowed much of the inefficiency to be "arb'd" out. As these securities are not based on NAV, I am pretty comfortable owning them. The only realistic risk that I can see is your risk to call depending on the premium paid. That being said, I am a big fan of purchasing CEF's at the low end of their historical premium/discount range.
    Sep 8 12:00 PM | 3 Likes Like |Link to Comment
  • Shares of plantation owner Sino-Forest (SNOFF.PK -60%) plunge after a report from Muddy Waters questions the company's accounting and land holdings. Sino-Forest's largest shareholder is Paulson & Company, which owned 34.7M shares as of April 29.  [View news story]
    This would be pretty big news if Paulson was caught up in the Chinese reverse merger phenomenon. At least one analyst will likely be losing his job today and it pierces the perception that Paulson can do no wrong. What does it say about his due diligence if he was taken in by a fraud. Of course allegations and fact are two different things but definitely makes for interesting water cooler talk...
    Jun 2 04:58 PM | 3 Likes Like |Link to Comment
  • My Portfolio Returned 38.29% This Year, Here's What I'm Doing For 2014 [View article]
    Because it outperformed the S&P 500 in 2013 by 10% you would expect the same out-performance in 2014? Based on what? The phrase "past performance is no indication of future returns" is a common one for a reason. Your article seems to essentially state that because it happened this year it should happen next year. That is a very dangerous premise to putting your hard-earned money at risk and readers should be much more skeptical. I can back test any number of strategies that out performed the S&P or DOW in 2013 but there is no likelihood it will do so again in 2014, no matter whose famous market name is attached to it! Many investors have lost a great deal of money by trying to chase the hot hand. Beware...
    Dec 6 01:13 PM | 2 Likes Like |Link to Comment