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  • Is AT&T A Trade? [View article]
    JP Buffett has done well but when your a buffett or ross perot type you can live very well on 2% returns and a very conservative long term style. However Buffett has handed over the reins to a new manager (he is no longer the Big Man, semi-retired as he;ll always be puttering around the edges to be sure) and that is IMHO the reason the Portfolio's performance is down. That and the overall Lousy Economy and the continued outflow of quality jobs from the USA.
    Aug 28, 2015. 11:09 AM | Likes Like |Link to Comment
  • Prospect Capital Corp.'s Results For Fiscal Q4 2015 - My Assessment [View article]
    Jav. I've taken enough lumps with PSEC for the time-being. I am glad to see that the stock has had a nice bounce off the bottom. But the Fact that they are barely covering (just meeting) the Monthly Divy payment doesn't bode well. The whole sector has been in a slump for sometime but PSEC has been beaten and battered far worse than the others as we both know from all the naysayers and short-sellers posting here.
    I didn't listen to the Conf. call I was busy doing other things. They might have a special dividend but from whence would the source of that Money flow? Seems that they'd have to sell off some assets (in the spin-offs?) or buy back significantly more shares to free up extra cash. But I hope they can for the many that have stayed with this almost 2 yr dog.
    Aug 28, 2015. 11:05 AM | Likes Like |Link to Comment
  • The Story Of How New York Mortgage Trust Fell From Grace [View article]
    I noticed you had nothing to say about the overall year-long Decline within the whole REIT/MReit sector. I expect CWF to address some of that in his follow-up article. But your comments don't address any of the real issues and questions I brought up. With mReits its all about the spread and the Interest Rates and the Fed has been playing games all year long and the short and long term rates on Mortgages have fluctuated as the Fed advances or withdraws the expected hike date(s). I noted that the downside of the Whole sector was clearly more than would be expected had the Fed just gone ahead and increased the Rate 25bps at the start of the year or even 4th Qtr 14. So please feel free to make some relevant comments and share you opinions on NYMTs performance and that of the whole sector.
    Aug 28, 2015. 10:58 AM | Likes Like |Link to Comment
  • The Story Of How New York Mortgage Trust Fell From Grace [View article]
    Sounds like you might be suggesting that NYMT management has learned nothing over the past decade plus. That seems a bit disingenuous and certainly does not adequately deal with the most recent 7 years and the turn around after the Market Crash. Perhaps that is fodder for you next article.

    Other analysts have this rated as a Buy and certainly a Hold. First look would suggest they have changed direction and have been improving since the crash. They like a few other older mReits did manage to survive the Crash unlike a majority of Reits that went belly-up.

    This whole sector has been taking a beatdown since last August with the Fed playing games with the end of QE3 and the constant threat of an interest rate increase. This has resulted in all the interest rate sensitive sectors being down far more than if the FED had just jacked the rates at the start of the year and waited to see what happened. There is no way a Max. .25% (25bps) should cause the 5-10+% drop in Share prices that these stocks have endured. A lot of short selling has also added to the downward push on interest rate sensitive stocks and sectors coupled with a lousy overall economy at home and abroad.

    What to they say. "Past results are not indicative of future results." Perhaps a good Motto to remember and to apply when investigating these companies. I didn't see any mention as to mangement and changes nor your thoughts about that subject, again something for the folow-up article?
    Aug 27, 2015. 06:18 PM | 3 Likes Like |Link to Comment
  • Prospect Capital Corp.'s Results For Fiscal Q4 2015 - My Assessment [View article]
    Thanks Scott for your usual high quality analysis. I sold out my PSEC position and took my lumps. Still too much volatility in the BDC Sector and this BDC in particular. Still too much Short-seller manipulation going one. Given the close calls on earnings I suspect that we may see another Divy reduction by EOY going forward into 2016. Overall economic outlook continues to sag and lag so the potential for a further downside bounce when the Fed does its thing is not to be unexpected and could by seen as a really good entry point (for myself as well) Thinking below $6 and somewhere around the mid $5 range is a possibility if the interest Rate Hike, a Divy payment and a spin-off News provide that 'perfect storm' scenario before the EOY. with a buy-in at that mid 5 range one could withstand the potential Divy reduction that seems to be looming just off-stage. As of Now I'm got Cash and looking for some opportunities to rebuild the Portfolio in this hostile and unforgiving environment.
    Regards again.
    Aug 27, 2015. 11:32 AM | 3 Likes Like |Link to Comment
  • Invesco Mortgage: When The Math Is Wrong Do NOT Stay Long [View article]
    I exited my position with a dividend driven profit so yes I was able to compensate. However I wasn't in the whole 5 yr window you mention. I came in at a lower price for a couple years and thus was able to eke out a small win.
    Aug 27, 2015. 10:46 AM | Likes Like |Link to Comment
  • Is AT&T A Trade? [View article]
    Buffett's investments haven't been doing so well this year.
    Aug 27, 2015. 10:44 AM | 2 Likes Like |Link to Comment
  • Is AT&T A Trade? [View article]
    I agree with you. T under $32 should be considered a Buying Opportunity.
    I missed that brief dip the other day and have been awaiting (order in position) to catch that next bounce. Then to trade out at or above $35. Not a long term fan as there will be cost overruns in Mexico and the rest of Latin America plus the slowly increasing debt load and interest rates. Was once long T, sold out at a Profit and looking to do what you have suggested yet again.
    Aug 27, 2015. 10:34 AM | 3 Likes Like |Link to Comment
  • PIMCO High Income Fund: Is The Pain Over? [View article]
    I agree wholeheartedly (my line is, 'no one ever went broke selling for a profit'.)
    easy to say much harder to do.
    btw I did pick-up 500 shares of fhy and hyt this AM during the early panic selling and may go and get some more later today or tomorrow,
    $11.59 & 9.49 respectively and those prices weren't near the bottom either. still a good entry point. Both are off the day's Lows and in the Green/Black for me.
    Dumped the PHK early today at a fairly decent price. Took my losses will reinvest the Money after the Crash sorts itself out. Looking to PU some aapl below 100 and T around 31
    Aug 24, 2015. 10:45 AM | Likes Like |Link to Comment
  • 9.6% New York Style [View article]
    Do you know why or have an opinion as to why the Preferreds of NYMT are taking such a beating? The stock price is down for the year as well. Long NYMT
    Aug 24, 2015. 10:39 AM | 2 Likes Like |Link to Comment
  • New York Mortgage Trust: That Is Quite A Spread [View article]
    TY for your insights and the good information you have provided. Long NYMT
    Aug 21, 2015. 02:26 PM | 3 Likes Like |Link to Comment
  • PIMCO High Income Fund: Is The Pain Over? [View article]
    Thanks I can use some luck as Aug to Aug has been Terrible for me. Looking for the "reset" button and China's slump may just trigger it.
    Aug 20, 2015. 03:12 PM | Likes Like |Link to Comment
  • Prospect Capital: Stable Q4'15 NAV And Continued Stock Buybacks Could Lift This 14% Yielder Finally Up [View article]
    Woulda, Coulda, Shoulda But Hasn't!
    Maybe I'll buy a few shares back again after we watch PSEC crash the $7 barrier and head down to the mid-$6 region and once again adjust its NAV and Dividend Lower around the EOY or Early Next. No Longer Long PSEC.
    Aug 20, 2015. 03:10 PM | Likes Like |Link to Comment
  • PIMCO High Income Fund: Is The Pain Over? [View article]
    Just trying to get the best price when I sell it to minimize any losses to less than 3% I'm darn close, that is my rational. I do expect it to climb some more and once I hit my target I'm Out as I do expect an adjustment in the distribution before EOY or near it. Think it is good through 3rd Qtr esp. if Fed holds off its rate increase. (I'd like to be out before Middle of Sept.)
    That premium is still holding up b/c of the Pimco name and reputation and the large number of Funds that hold these CEFs. 4th Q is when they do a lot of "rebalancing" and trying to paint a pretty face on their Portfolios before EOY and the Annual reports.
    Aug 20, 2015. 12:02 PM | Likes Like |Link to Comment
  • PIMCO High Income Fund: Is The Pain Over? [View article]
    TY for your comments and insights. I have done some light digging on the HYT and FHY both of them (like many others) have been taking a beatdown the ttm Just like the Reit sector, BDCs and other interest rates sensitive sectors and stocks. Both are trading at or near 52 wk lows and I suspect they may trend a tad lower in the next few weeks. Given your insights above I would almost expect another round of uninformed investor sell-offs when the Fed finally does drop the hammer on that .25% or less hike that is the timetable I'm looking at to get into one or both. I certainly hope your prognostication comes true.
    Aug 19, 2015. 11:34 AM | Likes Like |Link to Comment