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wkirk500

wkirk500
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  • Zero Leverage, High Yield, Cost Efficiency, And Diversification Does Not Make Up For Returning Capital [View article]
    Congratulations on getting ROC right, Regards, W. Kirk
    Nov 12, 2014. 09:13 AM | Likes Like |Link to Comment
  • Do Leveraged ETNs Buy High And Sell Low? And Does It Matter? [View article]
    Whether you subscribe to the weak of strong form of the efficient market theory there are still arbitrage opportunities in the underlying securities of each fund, which I am thankful for and use appropriately. Of course, these opportunities should not exist if efficient market theory is legitimate, Regards, W.Kirk
    Nov 3, 2014. 02:04 PM | Likes Like |Link to Comment
  • An Income Portfolio: High Income And Capital Preservation [View article]
    Inevitably you will be asked about ROC in NFJ. If not familiar with it please read Albo, and Eaton Vance site under closed end funds, Regards, W.Kirk500
    Oct 24, 2014. 09:38 AM | Likes Like |Link to Comment
  • Balancing CEF Data Vs. Portfolio Data When Selecting A Closed-End Fund [View article]
    Well considered. It is a pleasure to see someone identifying AMT adjusted muni yields.
    Is this chapter one in an upcoming book? It should be, Regards, W.Kirk
    Sep 16, 2014. 12:04 PM | Likes Like |Link to Comment
  • Closed-End Funds: Rising Rates And The Impact On Performance And Yield [View article]
    John , Outstanding work, a little more light always helps.. I am however, a little confused as an X- closed end bond fund manager. If rates rise and cause a reduction in NAV why does this effect income distributions or changes as you put it? In a CEF fixed income portfolio there should be no change at all. Portfolio sales, calls and redemptions are the only actions that would cause the need for reinvestment. These reinvestments would all be done at presumably higher rates. Yes, I understand that at exactly the same maturity/duration as disposed of securities income would not be replaced but a careful managed maturity/duration extension can easily offset possible income loss. So what were these managers doing? Regards, W. Kirk
    Aug 19, 2014. 03:52 PM | Likes Like |Link to Comment
  • Climate Change And Your Portfolio [View article]

    "According to the consensus of scientists around the world, the evidence for climate change has now become undeniable". This is the long passed opening sentence from this contributors premise. Any contributor who starts his article with a false conclusion of "undeniability" deserves the responses he gets, I am surprised that it seems to still get attention even with a long absent writer and ever increasing body of facts that global warming is indeed not undeniable!!!! the beat goes on, W. Kirk
    Aug 16, 2014. 05:27 PM | Likes Like |Link to Comment
  • The Real Reasons Why Warren Buffett Is Rich! [View article]
    The ability to use a Property and Casualty company to avoid current taxes by using reserve manipulation is a wonderful advantage for compounding return. As to frugal life style:
    In the 1980's the unadorned Gulfstream 1/2/3 parked next to" Capitalist tool", which was Forbes 727 was not advertised by Buffet and certainly did not contribute to the frugal life style he projected, Regards, W. Kirk
    Aug 8, 2014. 04:55 PM | 2 Likes Like |Link to Comment
  • Debunking The Myth Of Leverage For Closed End Funds [View article]
    Left Banker, The problem with all the statistical studies done or to be done is that they all deal in averages or aggregate data. The challenge for investors is to find and invest in the outliers. That is what I do. This however in no way denigrates the excellent work you have done here. By the way aren't you supposed to be in France? Regards, W.Kirk
    Jul 10, 2014. 08:39 AM | 1 Like Like |Link to Comment
  • Do Rising Rates Spell Doom For REITs? [View article]
    After reading your comments it seems to me you are missing the rest of the article or perhaps part two??? Regards, W.Kirk
    Jul 10, 2014. 08:20 AM | Likes Like |Link to Comment
  • Debunking The Myth Of Leverage For Closed End Funds [View article]
    I certainly appreciate the amount of work you have put into to your analysis and I continue to invest almost exclusively in CEF's for exactly the reasons that you are not sure of your results. I respect that but uncertainty presents opportunity as well as risk. The collective mis/understanding of ROC, premium, leverage and duration present most such opportunities. When added to portfolio credit risk they round out why I use them . You might consider trying same exercise to Muni CEF's, Best Regards, W. Kirk
    Jul 8, 2014. 08:31 AM | 1 Like Like |Link to Comment
  • Debunking The Myth Of Leverage For Closed End Funds [View article]
    I love it when anyone proves" there is no correlation at all!" I immediately start looking for other reasons the data doesn't want to correlate. For me it says two things. One, other issues are at play and if identified could provide greater returns and Secondly, Few will be looking for these opportunities!, Keep up the good work, Regards, W. Kirk
    Jul 7, 2014. 09:30 AM | 1 Like Like |Link to Comment
  • Need 7-8% Yields In Retirement? Build Your Income Portfolio With Closed-End Funds (Part II: Leverage) [View article]
    Excellent thoughtful piece. I hope that some take away the thought that volatility is not all bad regardless of what we have been taught since undergraduate school. For me volatility equals opportunity, simple as that! Secondly, the leverage issue goes right along with the premium size. Why do leveraged Muni CEFs tend to have highest yields and highest premiums? Finally it would have been great if you would have sub setted tax advantages funds. I suspect some of you conclusions would have been different in their regard, Excellent article from a "private investor" Regards, W. Kirk
    Jun 30, 2014. 09:07 AM | 1 Like Like |Link to Comment
  • Making Contrarian Investing Work [View article]
    I am pleasantly surprised by the quality an analytical content of you article. I am more used to using Morningstar recommendations as a contrarian indicator. When Morningstar says sell is generally a good time to buy. Regardless. You have written an excellent article, Regards, W. Kirk
    Jun 26, 2014. 10:17 AM | 1 Like Like |Link to Comment
  • Should You Sell ETW And Buy EXG? [View article]
    Edit or Perish, Morningstar is a great contrarian indicator but if to many investors figure it out it will stop working for us, W. Kirk
    Jun 24, 2014. 09:08 AM | 1 Like Like |Link to Comment
  • Decreasing Returns To Scale In Actively Managed Mutual Funds [View article]
    No detractor here. I generally agree. I don't know if inefficiencies are created but I know it creates liquidity. Opinions like yours seen to come with an understanding that institutional investors suffer from the same emotional makeup as everyone else sometimes worse, You write as if you have been one? Regards, W. Kirk
    Jun 21, 2014. 08:46 AM | Likes Like |Link to Comment
COMMENTS STATS
317 Comments
203 Likes