Seeking Alpha

Tack

Tack
Send Message
View as an RSS Feed
View Tack's Comments BY TICKER:
Latest comments  |  Highest rated
  • Could U.S. Shale Oil Companies Be The Next Coal Companies In Time? [View article]
    Yield issues murmuring to life.
    Jul 30, 2015. 08:25 PM | Likes Like |Link to Comment
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #79 [View instapost]
    LMH:

    Curiously, diversified Big Oil mostly green, while MLP's and drillers crushed.
    Jul 30, 2015. 06:41 PM | Likes Like |Link to Comment
  • BDCs At 52-Week Lows Before Q2 2015 Earnings [View article]
    RH:

    It's always gratifying when commentary helps someone.

    Regarding MAIN, I guess a BDC, which has remained mostly flat and pays near 7%, while others have tanked, should be on the pick list, but I have just never been attracted to low-yielding BDC's with very high price/book ratios. I guess, at times, I've suffered for that bias, but when I buy BDC's, I'm not looking for a safe 7% bond; I want more.

    When I look at the short list I printed above, it's clear to me that ACAS offers the best value. It has the lowest debt/assets, too. But, it's penalized for not paying a dividend in a sector that demands dividends. The moment they decide to restore dividends, rather than alternative uses for capital, I suspect that their price will gap up instantly.

    FSC's debt/assets is almost as low as ACAS, too, at near half what is allowable for a BDC.
    Jul 30, 2015. 03:30 PM | Likes Like |Link to Comment
  • Could U.S. Shale Oil Companies Be The Next Coal Companies In Time? [View article]
    RD:

    Agree, but when MEMP reconfirms their 20+% yield, there's lots of room for error, especially when one can sell a put that's 9% out of the money for an 8% premium.
    Jul 30, 2015. 01:20 PM | Likes Like |Link to Comment
  • Could U.S. Shale Oil Companies Be The Next Coal Companies In Time? [View article]
    RD:

    Just for fun, going the other way, selling Oct $10 puts @ $0.85.
    Jul 30, 2015. 01:13 PM | Likes Like |Link to Comment
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #79 [View instapost]
    The E&P oil-stock rally is over already, apparently.
    Jul 30, 2015. 12:45 PM | 2 Likes Like |Link to Comment
  • Could U.S. Shale Oil Companies Be The Next Coal Companies In Time? [View article]
    The short-term traders all milking profits today after a couple of big up days. Not an investor in sight.
    Jul 30, 2015. 11:47 AM | Likes Like |Link to Comment
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #79 [View instapost]
    LMH:

    To me, the VIX only reacts after the market "wakes up" to the realities that more perceptive investors identify earlier.
    Jul 30, 2015. 06:10 AM | 1 Like Like |Link to Comment
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #79 [View instapost]
    LMH:

    One is never "sure" about anything in the markets, but my opinion has been formed by watching yield issues suffer even during periods when rates have been weakening, not only when Fed phobia has driven them higher. This suggests credit fear to me.
    Jul 30, 2015. 06:05 AM | Likes Like |Link to Comment
  • BDCs At 52-Week Lows Before Q2 2015 Earnings [View article]
    ab:

    Giving it a quick glance, it's been impressive how it's been able to avoid the fate of other BDC's the last 18 months. Off hand, I would attribute this, possibly, to the fact that NMFC was debt free until last year and even now has extremely low debt. Therefore, it's been immune to the debt worries that have plagued other BDC's.

    NMFC's earnings have been consistent, if flat, its price-to-book around 1.0, which doesn't make its current price seem undervalued, given its lack of price erosion over the past 18 months. The company may have room for expanded performance, depending on whether they choose to apply more debt.

    Overall, a decent BDC, but not one that necessarily screams "undervalued."
    Jul 30, 2015. 06:02 AM | 2 Likes Like |Link to Comment
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #79 [View instapost]
    LMH:'

    The irony is that energy and yield names are in the same boat. Normally, one might expect those issues to be inversely related, but the fear that the energy decline has engendered has dragged many yield names right along, assuming that myriad credit issues would result. About this, I fully understand.

    For me, both of the big value opportunities lie in these sectors, provided, of course, that energy doesn't reach the "death zone." The worry about higher rates is wholly overblown and more than priced into yield issues, so even a rate increase will have no further effect on these names. They are being affected by a credit-related cloud, not rates.
    Jul 29, 2015. 08:44 PM | 2 Likes Like |Link to Comment
  • Best Ways To Invest -- What's Your Opinion? A Place To Share Ideas! #78 [View instapost]
    FG:

    SPX just went along for the ride. This rally has been 100% an energy/oil rally. It either continues, or everything will again stall.

    For the first time in almost a year and a half, I am getting just a small twitch that a bottom may be forming in BDC's and other interest-related names. If so, this would be a very positive development.
    Jul 29, 2015. 07:23 PM | Likes Like |Link to Comment
  • BDCs At 52-Week Lows Before Q2 2015 Earnings [View article]
    I've just been letting BDC's stew in their own juices for months, as it was apparent that no bottom was in sight, regardless of the fundamentals involved in the industry or the relative performance differences of various firms. Now, I am starting to warm to the idea of examining this sector more thoroughly. If there ever were an unloved, bludgeoned-to-death sector, it's certainly BDC's.

    Not withstanding the favoritism shown self-managed BDC's, I have been examining three variables to develop an opinion about the relative attractiveness of various issues, presently. These variables are:

    1) Price action for the last 18 months

    2) Earnings history, relative to price, during this period

    3) Current price/book ratio

    What I have been looking for are issues whose 18-month price action appears extreme and out of line, when examined in reference to their actual earnings performance and dividend history, and whose price/book ratios are severely depressed and well below 1:1.

    Based on that cursory examination, the following BDC's have attracted my initial interest and will garner my further investigation:

    TICC
    PNNT
    MCC
    FSC
    ACAS

    If Buzz or others have comments on any of the above, or wish to add names with similar characteristics, please feel free.
    Jul 29, 2015. 07:19 PM | Likes Like |Link to Comment
  • Could U.S. Shale Oil Companies Be The Next Coal Companies In Time? [View article]
    Another on my watch list: POT.

    Earnings forecasted to be slightly higher in 2015 than in 2014, yet shares now selling below $27 versus ~$35 last year. Yield now near 5.65%.
    Jul 29, 2015. 11:38 AM | Likes Like |Link to Comment
  • Could U.S. Shale Oil Companies Be The Next Coal Companies In Time? [View article]
    Like ORIG, too.
    Jul 29, 2015. 11:25 AM | Likes Like |Link to Comment
COMMENTS STATS
14,126 Comments
26,552 Likes