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Preferred Research
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25 years with Wall Street firms then running a "long bias" hedge fund since 1997. Focus on equities and preferred stocks. Very diverse portfolio partially hedged with short S&P 500 index calls. Usually 30-60% net long.
  • April 11 IPO's Pass Or Take? What About ALLY? 0 comments
    Apr 10, 2014 10:23 AM | about stocks: ALLY

    There are a few IPO's pricing tonight for Friday 4/11 trading.

    Here is my no nonsense evaluation:

    PAHC...Phibro Animal Health...should be good, take.

    ENBL...Enable MLP...looks solid, take. I say this and I hate MLP's.

    ZOES...Zoe's Kitchen...raised offer range. Take

    STST...Stalwart Tankers...avoid. Don't even think about it.

    FPI...Farmland Partners...avoid. You do not want any part of this.

    Comments on ALLY...not a good IPO, reminds me of the first US Treasury sale of AIG. I think you can start to nibble on this as a good longer term investment.

    Disclosure: I am long ALLY.

    Additional disclosure: I plan to initiate long positions in PAHC, ZOES, and ENBL in the next 24 hours.

    Stocks: ALLY
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