The Amalgamator

Contrarian, value, special situations, medium-term horizon
The Amalgamator
Contrarian, value, special situations, medium-term horizon
Contributor since: 2013
Looking at GULF's full history back to 2010, they tend to make distributions in the first two quarters for some reason. I believe that the 12/31/12 "distribution yield" was around 4% and the "annualized yield" of portfolio companies -- not necessarily what gets paid out - around 5.79% at that time. Since the price has come up, the annualized yield is closer to the low 4% range. I don't know why this is flowing through to certain websites as "0." I do not expect distributions to stop in the future. Thanks.
It could. I'm more focused on relative values to other countries and improving prices and technicals. On balance, these markets seem to be pushing higher.
Demand/coverage was certainly increased without much attention to cost controls (i.e., we took an inefficient system and put more burden on it without any structural reform). Cost controls may ultimately be an outcome, but on many fronts do not seem to be mandated. My understanding is that where services are integrated, for example at a dialysis center where human effort, equipment, various drugs are bundled together to provide the "treatment," the all-in cost there is going to be more heavily controlled, so the maker of the drug being delivered could get squeezed. In other, less integrated areas such as the raw price of prescription drugs or even routine or less common procedures, I am less sure - all of this gets to my point on greater efficiency. The market for stocks sensitive to these factors seem to be discounting the risk, but you make a great point. I do think that in the end, there will be a place for innovation and independent capital investment rather than just gov't bloat.
I appreciate the support and am hoping to launch 1-2 articles by next week. Your restraint on expressing disappointment with current leadership is admirable. On SA, I will remain apolitical, but at times find myself losing my cool at the mass lack of appreciation for history and global economics, let alone leadership. Let's try to survive, protect principal and profit!
Thanks.
Thanks, it was my maiden voyage (1st article). If you liked it, please become a Follower and feel free to forward to anyone else!