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Tim Plaehn  

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  • Fate Of Navios Maritime Partners' Big Dividend To Be Decided In Next 9 Months [View article]
    I believe that NMM has no tax issues because it generates no revenue or profits inside of the U.S.
    Oct 4, 2013. 03:45 PM | 3 Likes Like |Link to Comment
  • Linn Energy Takes Next Step To Survive And Thrive [View article]
    Donald, I agree. My little corner of the Interverse will be watching and pushing to get clarity from Linn in their reporting. I am hoping the recent month's events are a lesson for the management.
    Sep 11, 2013. 12:33 PM | 3 Likes Like |Link to Comment
  • Northern Tier Energy To Stay Ahead Of Refinery MLP Peers For Rest Of 2013 [View article]
    It would be nice if the EIA would update the chart. I have been running a spreadsheet using the weekly EIA data from here:
    The second quarter 3.2.1 spread using NYMEX numbers stayed between $20 and $25. Third quarter has seen a few weeks in the high teens, but pretty much camped at $20. Due to the proximity to the high Chicago fuel prices and crude oil cost advantages, I think that NTI can best this by several dollars per barrel.
    Aug 30, 2013. 04:48 PM | 3 Likes Like |Link to Comment
  • Northern Tier Energy To Stay Ahead Of Refinery MLP Peers For Rest Of 2013 [View article]

    I appreciate your comments. The idea I try to get across on these MLPs is that the dividend will vary considerably and investors can do well over the long term by buying when the market doesn't like them. I plan to generate a picture of NTI's results relative to some benchmark crackspread over time. I do not think that 3 or 4 quarters is yet enough data, especially since the energy markets have been relatively stable. However, you have given me an idea fo another article. Keep on me about the rigorousness of my analysis, helps me improve what I do. Thanks.
    Aug 30, 2013. 01:50 PM | 3 Likes Like |Link to Comment
  • Northern Tier Energy To Stay Ahead Of Refinery MLP Peers For Rest Of 2013 [View article]
    Lynn, A RIN is atached to one gallon of biofuel. If NTI blends ethanol or biodiesel into its fuels, it can detach the RINs from the purchased bios and turn them end as some or all of the required RINs each refinary must "pay" in to the EPA. A refiner with little or no blending of bio fuels must buy the RINs it owes on the open market and the RINs become a direct expense.
    Aug 16, 2013. 05:07 PM | 3 Likes Like |Link to Comment
  • KKR Financial Is The Alt-REIT, Alt-MLP, Alt-BDC Income Investment Choice [View article]
    I like the KFN side for the income potential and the fact they get to cherry pick from what KKR sees.
    Jul 21, 2013. 11:20 AM | 3 Likes Like |Link to Comment
  • Danger Signals From Brookfield Infrastructure Partners [View article]
    Update: This article on BIP parent Brookfield Asset Management:
    Is from a foundation that digs through financial reports "with the goal of providing in-depth financial investigative reporting for the common good."
    I read through the very long article and understand the concerns, but they are mostly of a hypothetical nature. In my opinion, BIP remains a solid investment.
    Mar 13, 2013. 12:29 PM | 3 Likes Like |Link to Comment
  • Mortgage REITs Earn Much Less Than Published Mortgage Rates [View article]
    Jonk, I meant current yield as coupon rate divided by price -- the definition of current yield. As opposed to yield to maturity which amortizes any premium or discount in the bond price. Its just simple math, not part of the earnings and expenses calculations.
    Dec 31, 2012. 11:33 AM | 3 Likes Like |Link to Comment
  • Chimera: Time To Jump In Or Bail Out? [View article]
    The company's own estimate of book value was $3.08 per share published in September. That one piece of data show how irrelevant it is to use year old data to make a case. At least read a press release or two before writing an article.
    Dec 1, 2012. 09:38 AM | 3 Likes Like |Link to Comment
  • Very Mixed Q3 Results From American Capital Agency - Expect A Dividend Reduction Soon [View article]
    From the earnings report:

    9% actual portfolio CPR for the quarter
    9% actual portfolio CPR for the month of October 2012

    The 14% comes here: 14% average projected portfolio life CPR as of September 30, 2012.

    So actual CPR came in below the projection for the last 4 months. I would call that a good job.
    Oct 31, 2012. 10:20 AM | 3 Likes Like |Link to Comment
  • High Yield Closed-End Funds Trading At Discounts To NAV [View article]
    Bond premiums are usually amortized over the life of the bond to reduce the taxable income. Investing in funds instead of stocks and bonds directly does put the investor at the mercy of the bond managers. That is why I try to look for clues whether or not the management is doing a good job. Things like return of capital, leverage and general management comments are all taken into account. I tend to like funds which have produced steady returns in the past with an expectation that will continue into the future. I may be wrong, but it is a method more advanced than throwing darts or buying the highest yield on the board.
    Oct 15, 2012. 05:00 PM | 3 Likes Like |Link to Comment
  • Boost Your Total Return For REITs - A Look At Chimera [View article]
    Then why do you write the article about CIM when you own NLY. If you had looked at the stock's history, you would know that Chimera was a terrible choice for your example.
    Oct 11, 2012. 10:09 AM | 3 Likes Like |Link to Comment
  • ONEOK Vs. ONEOK Partners For Yield And Dividend Growth [View article]
    I think these stocks will continue to go up unless there is an overall bear market, so with that caveat, yes they should be good investments at the present level. These are stocks which have doubled off the prices before the last bear market.
    Oct 2, 2012. 11:05 AM | 3 Likes Like |Link to Comment
  • NYSE Gives Chimera Investments Extra Time To Avoid Delisting [View article]
    If you like this stock, buy on the drop every time I write an article. Serious profits to be made.
    Sep 14, 2012. 01:13 PM | 3 Likes Like |Link to Comment
  • Chimera Investment Corp: Headed Toward A 0% Dividend Rate [View article]
    I understand that investors do not like their stocks to go down, but Chimera has done nothing for close to a year to let investors know that things are OK. It is not irresponsible to point out the facts. It is irresponsible for your portfolio to ignore those facts.
    Sep 5, 2012. 09:19 AM | 3 Likes Like |Link to Comment