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Rubicon Associates
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Rubicon Associates is headed by a Chartered Financial Analyst with over 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, he has analyzed and invested in both public and... More
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  • New Issue Articles - Any Value? 13 comments
    Jul 19, 2012 3:49 PM

    As many of my followers have noticed, I have been writing about new issues pretty frequently lately. There has been a good number of deals lately that might be of interest to readers, but have these articles created any value?

    I am inclined to stop writing on new issues as I am unsure of the value of the articles. Any feedback would be appreciated.

    Mike

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: new issue
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Comments (13)
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  • I certainly enjoy the articles and rely on them to some extent. For example, today I thought you might comment on a U.S. Bancorp 10 year, about 2.95% I think, and then I thought you might follow up on the new DDR preferred. You have been very generous with your time, and your articles are quite thorough and you are very bright and I certainly appreciate it that you share your wisdom, but honestly, if you feel that you are spending too much time on this then take a break.
    19 Jul 2012, 03:59 PM Reply Like
  • Author’s reply » poclerk, I like the new issue market, I just have to ensure that there is some value for those who follow me. If there is value, I will continue to write on the new issues - I have just finished an article on CommonWealth REITs new debt issue (posted soon). I instablogged the DDR instead of "publishing" it as I thought those who follow me should get it first (actually, I am not going to "publish" it). If you like them, they will come!

     

    Thanks for the feedback, I really appreciate it. Mike
    19 Jul 2012, 04:12 PM Reply Like
  • Love your stuff your coments seem to be on the consevative side
    fine with me

     

    Stan
    19 Jul 2012, 04:45 PM Reply Like
  • Author’s reply » Stan, Thanks for the feedback. Just trying to make sure folks find value in what I am publishing as that is my goal. Mike
    19 Jul 2012, 05:43 PM Reply Like
  • They add value for me. Looking to allocate more funds and your ideas absolutely help me. Thank you for taking your time to write these articles!!
    19 Jul 2012, 06:22 PM Reply Like
  • Author’s reply » I appreciate the feedback, I try to write about things folks want to read and add value to the process. Making sure I am on the right track is essential. Mike
    19 Jul 2012, 08:23 PM Reply Like
  • Please continue your excellent articles.We need as much help through the minefield as you can give us. Newer issues for your possible comments include Chesapeake Lodging Trust CHSP-A, Resource Capital RSO-A,Terreno Realty TRNOP , and even mandatory convertibles such as United Technologies UTX-A. It is now harder than ever in recent memory to pick good issues. Your assistance is greatly appreciated. The problem is that the market used to give us steak or at least hamburger, and now all we seem to be getting is spam and tofu. Thanks.
    19 Jul 2012, 07:27 PM Reply Like
  • Author’s reply » jbzw, tofu is right! It's a yield diet, and I like red meat. Have to keep digging to find it, but it is out there! Fortunately, I have a big shovel. Mike
    19 Jul 2012, 08:22 PM Reply Like
  • Mike, I'd like to continue to hear about the new issues as well. Many of the older preferreds are being called right now, so it's always good to hear about new issues. Plus, you normally write about the issues before they are even trading on the major markets - and it really helps some of the small investors that can pick them up on the OTC market at decent prices.
    19 Jul 2012, 10:05 PM Reply Like
  • Author’s reply » KL, thanks for the feedback. I will continue to write on them as long as folks want to see them and the articles have value. Last thing I want to do is waste the time of the folks looking for ideas and updates. Thanks for the support. Mike
    19 Jul 2012, 10:46 PM Reply Like
  • Mike, Love the new issue writeups, especially in this market -hot and crowded. I have had a lot of stuff that's been called or redeemed lately. My focus lately has been on preferred IPOs (as well as convertibles).

     

    I have to say that it is tempting to just sit in cash for a while until the price in the preferred market corrects. But I'm probably not that sensible.

     

    Jim
    22 Jul 2012, 04:38 AM Reply Like
  • Author’s reply » Jim, I hear you. Cash is appealing, but we could be in a low rate environment for a while and I will take managed risk rather than zero any day.
    23 Jul 2012, 05:52 PM Reply Like
  • Michael, not sure if you "take requests" or not but would love to see your evaluation on Sprint on the preferreds versus bonds and overall opinion. Thanks in advance if you can!
    24 Jul 2012, 11:19 AM Reply Like
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