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Tim Plaehn  

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  • New Linn Energy Subsidiary LinnCo Provides Alternative High Yield, Non-MLP Investment Choice [View article]
    Thanks we try. On this article the good stuff has been in the comments from some very informed readers. Thanks to all who have participated. One of the best discussions I have read on SA.
    Oct 21, 2012. 05:54 PM | Likes Like |Link to Comment
  • Hot Subprime MBS Market May Save Troubled Chimera Investment Corp. [View article]
    Alphatag, you make your point well. I tend to look more at how a company actually performs rather than the business plan or story. A story is just a story until it turns into profits for investors. CIM has been a disaster almost since day one, so I lean towards a bad outcome from the company's current woes. This article notes that the recent resurgence in interest in non-agency MBS may be a lifeline for CIM. Still, 13 months without an earnings report and at least 3 more to go not a good sign that the company has everything under control.
    Oct 21, 2012. 09:42 AM | Likes Like |Link to Comment
  • Safety Factors Concerning The Fifth Street Finance 10% Dividend [View article]
    The Holy Grail of income investing. Cash flow you can see growing and dividends which are covered by cash flow and growing also.
    Oct 20, 2012. 11:23 AM | Likes Like |Link to Comment
  • Chimera Investment Corp: Headed Toward A 0% Dividend Rate [View article]
    I do not know how many and am not responsible for their decision if they did not read the article. I am not responsible even if they did read the article. There are probably 10 positive article on CIM on this site for every negative article. Still see one every week pumping the stock.
    Oct 20, 2012. 10:12 AM | Likes Like |Link to Comment
  • Chimera Investment Corp: Headed Toward A 0% Dividend Rate [View article]
    I was very shocked at the response to this particular article. Only one I ever wrote which seems to have had an effect on a stock price. The purpose of a title is to get viewers to click and read the article. I do not take responsibility for those who traded without reading.

    I continue to believe -- with no inside information, just by the company's actions or lack of actions -- that CIM is a bad company and a bad investment. Heck, the stock has been a bad investment since it went public in 2007 at $15. IMO this will end very badly for investors holding the stock. I may be wrong.
    Oct 20, 2012. 09:57 AM | Likes Like |Link to Comment
  • Chimera Investment Corp: Headed Toward A 0% Dividend Rate [View article]
    Thanks for the link to my article. Do you believe your investment choices are so correct that you would not earn anything from reading a different point of view?
    Oct 20, 2012. 08:33 AM | Likes Like |Link to Comment
  • How A Mortgage REIT Could Run Out Of Earnings With Current MBS Rates [View article]
    Jonathan, NLY does not buy mortgages. They buy mortgage backed securities - MBS. There is the rub as noted in the article. Currently MBS are yielding about 1.5%.

    Also in the last quarterly report NLY gave a cost of funds of 1.5%. AGNC had the 1.08% cost.
    Oct 18, 2012. 12:09 PM | 2 Likes Like |Link to Comment
  • How A Mortgage REIT Could Run Out Of Earnings With Current MBS Rates [View article]
    jonk, it will be interesting to see if your predictions come to pass. Nice analysis of your viewpoint.
    Oct 18, 2012. 12:07 PM | Likes Like |Link to Comment
  • New Linn Energy Subsidiary LinnCo Provides Alternative High Yield, Non-MLP Investment Choice [View article]
    LinnCo owns 13% of Linn Energy. Sometimes I overwrite. The number of LinnCo shares will equal the number of Linn Energy units the new company owns.
    Oct 18, 2012. 10:40 AM | 1 Like Like |Link to Comment
  • New Linn Energy Subsidiary LinnCo Provides Alternative High Yield, Non-MLP Investment Choice [View article]
    That is correct. But the other side of the question is how much UBTI would you already be liable for. If you have LINE or KMP in an IRA it could be a lifetime hold to avoid a big tax hit.

    But a very good point, to minimize the tax problem getting out at the earliest moment makes sense.
    Oct 17, 2012. 11:19 AM | Likes Like |Link to Comment
  • Annaly's $1.5 Billion Share Repurchase Plan Is Good News For Shareholders [View article]
    Zvi, excellent analysis. The buyback tells me that there is little or no money to be made with agency MBS at the current market rates - less than 1.5% if you look up MBS rates on the WSJ.

    $1.5 billion in share buybacks mean selling somewhere in the neighborhood of $9 billion worth of mortgage securities. I expect a high level of capital gains as premium bonds are sold. The profits paid as dividends and the cost basis used to buy shares.
    Oct 17, 2012. 07:21 AM | Likes Like |Link to Comment
  • High Yield Closed-End Funds Trading At Discounts To NAV [View article]
    The NAV of ETB gained 13 cents yesterday, so I wouldn't worry about the drop.
    Oct 17, 2012. 06:00 AM | Likes Like |Link to Comment
  • New Linn Energy Subsidiary LinnCo Provides Alternative High Yield, Non-MLP Investment Choice [View article]
    M. From the conversation here - I am no tax expert - I would suggest holding onto the LINE, especially if you have a low tax basis due to a significant amount of distribution earnings. Selling your LINE would trigger the UBTI basically on your earnings to date from LINE. If you have owned LINE for a short period of time -- maybe a couple of quarters, the swap could work out. If you have a tax person, give him a call.
    Oct 17, 2012. 05:58 AM | 1 Like Like |Link to Comment
  • High Yield Closed-End Funds Trading At Discounts To NAV [View article]
    I have noticed that share prices can be more volatile than the NAV. Check the NAV in the morning and see if it was just a market hiccup.
    Oct 16, 2012. 07:36 PM | Likes Like |Link to Comment
  • New Linn Energy Subsidiary LinnCo Provides Alternative High Yield, Non-MLP Investment Choice [View article]
    Yes, the yield is higher. Of course, the LNCO dividend payout is projected and no distributions have yet been made. It will be interesting to compare yields after a couple of distributions have been paid.
    Oct 16, 2012. 11:59 AM | Likes Like |Link to Comment
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