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  • Leveraged Dividends [View article]
    Interesting topic. At the risk of being called an excessive risk taker here is my experience.

    I populated an IB account a little over a year ago with $200,000 and proceeded to carefully purchase a diversified income producing array of listed securities. MLPs, utilites, BDCs, MREITS, high yield CEFs.

    Built up to $1 million of leverage. The account has doubled over the past year to equity today of $400,000 and threw off $112,000 in dividends and other cash returns for FY 2012 which has been retained in the account.

    I watch the thing daily and obviously it's not a sleep well at night proposition but with FRB interest rate policy so low and expected to continue I am happy with the results and where I am today.
    Jan 18, 2013. 05:17 PM | 2 Likes Like |Link to Comment
  • Enerplus: An Attractive Investment For 2013 [View article]
    My biggest loser last year.

    Trust the Canadian government to change their tax laws to your (US) detriment, ERF management not up to growing distributable cash flow.

    Think LINE, why bother with ERF ?
    Jan 10, 2013. 10:25 AM | 2 Likes Like |Link to Comment
  • Lamar Advertising: Do Billboards Make Good REIT Assets? [View article]
    The need to convert the existing 2 faced boards and tri-visions to digital faces means huge capital expenditure requirements for Lamar and others in this industry. There is much risk of obsolesce as digital technology is relatively new and advancing (nano technology) increases risk of this business model.
    Aug 13, 2012. 09:45 AM | 1 Like Like |Link to Comment
  • 4 Reasons To Consider Buying First Niagara Financial [View article]
    Buying an individual bank stock is just like playing blackjack ..... you have no transparency into the loan portfolio risk metrics or the ALCO discipline.

    This back certainly did screw investors a couple of years ago.
    Aug 12, 2012. 08:58 AM | Likes Like |Link to Comment
  • The Numbers On The Latest Armour Residential REIT Public Offering. [View article]
    JMF, unless I'm missing something or you were on vacation you had the opportunity to buy at $7.50 or a little less yesterday as 75 million + shares were being traded.

    Also could have been paid $.40 per share to buy at $7.50 in October although would miss two dividends. (Sold Oct 7.50 puts for $.40)
    Aug 4, 2012. 09:01 AM | 1 Like Like |Link to Comment
  • The Numbers On The Latest Armour Residential REIT Public Offering. [View article]
    Good thoughts here. I several mortgage REITs including a small position in ARR at $6.84. Trading in and out since Feb this year but in hindsight would have been better to buy an hold!

    Took the drop opportunity to sell some Oct $7.50 puts for $.40 this morning.
    Aug 3, 2012. 01:26 PM | Likes Like |Link to Comment
  • Bank Stock Analysis: Things You Won't Learn In A Textbook, Part 1 [View article]
    Just started reading your blogs and find the community bank world quite "interesting" at this point. Like some of your "points of view".

    Curious how you warm up to SBFC with declining loans, no dividend, efficiency ratio of 73% ..........
    Jul 21, 2012. 03:32 PM | Likes Like |Link to Comment