31October

31October
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  • Vale: Nowhere To Hide  [View article]
    TheFactMan,
    Thank you for your revenue projection based on global iron demand & supply trends, and comparing it with debt load and bond maturities. Your projection of the potential costs of the Samarco disaster based on other historical disasters was insightful. When added to the finest balance sheet trend analysis we have ever seen, we are blessed with a deeper understanding of Vale's strengths and weaknesses. Without your operating cash flow projection discounted by revenue decline, we could never have come to such an accurate intrinsic value of the stock.
    TheFactMan really knows how to compile factual data into something really useful, and that's a #facts #first fact!
    Feb 6, 2016. 11:32 AM | Likes Like |Link to Comment
  • Best Industrial Stocks According To Buffett Principles: A Look At Costamare  [View article]
    Indeed, the preferreds are almost too good to be true. I am watching operating income and cash flow like a hawk; this is a delicate industry for them to be doing so well in.
    Feb 6, 2016. 10:43 AM | Likes Like |Link to Comment
  • The Phoenix Companies And The 13.2% Debt Yield  [View article]
    "... what leads you to believe the "bonds may default"?
    Raising fears that... Phoenix may default on the bonds, when there is no basis to think that... "

    Negative net income, negative and declining retained earnings, negative operating income, negative cash flows from operations, negative free cash flow, declining cash equivalents, etc. http://bit.ly/1QKHPrQ
    In terms of ratios: negative operating margins, negative EPS, negative EPS growth rate, negative ROE...
    I've owned SDRL and CHK preferred, and I know what "will eventually go down in flames" looks like.
    Feb 5, 2016. 11:43 AM | 1 Like Like |Link to Comment
  • CEFL Dividend Will Be Down In February, But Still Yield 26.8%  [View article]
    SPLV outperforms those, with even less volatility.
    Feb 3, 2016. 01:32 PM | 1 Like Like |Link to Comment
  • Global X Adds A 'Super' REIT ETF To Its Lineup  [View article]
    "Do you think that REIT dividends will ever be qualified?" No.
    "...if the international REIT's [SIC]... will be taxed as qualified dividends..." No.
    "how are non-qualified dividends taxed? At my normal tax rate?" Yes.
    "or does it depend on how much I've made as of that time of the year? For instance, if its May and I'm paying say 25% tax rate at that time of year am I taxed at that rate?" If you are doing taxes for 2015, then what you are making in 2016 has NOTHING to do with anything.
    Feb 2, 2016. 03:03 PM | Likes Like |Link to Comment
  • Mall Wars: The Tale Of The SWAN And The Ugly Duckling  [View article]
    Greenville *County* is a great place. I will not rehab inside city limits again; the bribes (I mean PERMIT FEES-- darn you, autocorrect!) are too pricey for small people. The property taxes on a rental house inside city limits are almost double the taxes for a similar house outside.
    Feb 2, 2016. 02:34 PM | Likes Like |Link to Comment
  • ETRACS Monthly-Reset 2x Leveraged ETNs: Consistent Gains Are Muted  [View article]
    lstahler, your sentiment to use gold as a means to limit debt & waste is right, but global debt has made a gold standard impossible.
    The USA actually does have a floating commodity standard, which is the dollar has remained stable better than currencies of countries with worse debt ratios. That is why many countries have a peg to the dollar or an unofficial floating peg by keeping dollars in their internal reserves. The USA has such a ridiculous and invasive foreign policy to protect the petrodollar. All oil on earth is traded in US dollars, and the dollar is the reserve currency for international transfers. Every time somebody tries to sell oil for anything other than dollars, the US government decides that he is an evil ruthless dictator, so we must spread some democracy...
    The utter dependence on the petrodollar and reserve currency status to keep our currency stable would not be so extreme if we had less debt, but going to an impossible gold standard is still more likely than expecting Congress to quit blowing money.
    As surfgeezer says, currency values with fluctuate, and if the dollar declines (it will- google what Russia & China announced in 2010; we will not bomb Russia & China), it will simply seesaw down relative to other currencies. The only thing an investor can do it invest with the expectation of future inflation.
    Feb 1, 2016. 01:25 PM | 3 Likes Like |Link to Comment
  • CEFL Dividend Will Be Down In February, But Still Yield 26.8%  [View article]
    Incorrect.
    That question says that you should not consider CEFL, which is a leveraged note tracking an index of highly leveraged CEFs, which are in perpetual (on the average) discount due to overall declining NAV. As somebody who has a lot of CEFL, I am telling you: Do not touch CEFL.
    Feb 1, 2016. 01:07 PM | 7 Likes Like |Link to Comment
  • Valuing Kinder Morgan  [View article]
    User 12839421 nailed it with his deconstruction: http://seekingalpha.co... As a holder, I want reality, not affirmation.
    Jan 31, 2016. 03:37 PM | 2 Likes Like |Link to Comment
  • Kinder Morgan: Should You Buy The 9.75% Convertible Preferred Stock?  [View article]
    Now might be a sell, but under 37 was a good buy even though locked out of capital appreciation on the common.
    Jan 31, 2016. 11:45 AM | Likes Like |Link to Comment
  • A Small Cap Dividend Play With 17.7% Dividend Yield For My 'Model Retirement Portfolio'  [View article]
    "Of course they'll do it when the price is at bottom." Correct: UBS did exactly that with MLPL... The index it tracked soared the next day.
    Jan 30, 2016. 02:23 PM | 1 Like Like |Link to Comment
  • The Phoenix Companies And The 13.2% Debt Yield  [View article]
    PNX has:
    Negative operating margin,
    EBITDA margin,
    net profit,
    cash from operations, and
    negative and declining retained earnings...
    To NOT be bought out means to not continue to exist for long.
    Jan 29, 2016. 03:40 PM | Likes Like |Link to Comment
  • Still Bullish On MORL: February Dividend Brings Yield To 36%  [View article]
    alejrossi, read the many comments regarding CEFL's index selection methodology, and go to http://tinyurl.com/hgy... to see how the distributions have been in decline since the index was tracked. The index components pay out more than available, which leads to lower remaining value, which leads to lower subsequent distribution.
    2016 may be a decent year for CEFL but the way index components are selected means that losers are selected over the long-term.
    Jan 29, 2016. 10:30 AM | Likes Like |Link to Comment
  • Still Bullish On MORL: February Dividend Brings Yield To 36%  [View article]
    I went to the MORL page on Seeking Alpha, opened the comments under a few articles, did CTRL+F for "redemption," and got 10 comments.
    If refuse to google "UBS MORL," expect others to do all your research for you so that you cannot take any responsibility, then you should stop investing and start campaigning for a certain presidential candidate.
    Jan 29, 2016. 10:21 AM | 4 Likes Like |Link to Comment
  • Low Crude Oil Prices No Problem For TravelCenters Of America's 8.6% Yield Bond  [View article]
    Powertrains are an interest of mine, and I am lucky enough that my neighbor happens to be a BMW electrical engineer, and my former coworker left to become an independent trucker.
    The engineer is disgusted that he had to waste years of his life on projects that cannot ever work in the real world just so that BMW can get tax credits. (BMW did not make that semi; they use it to get carbon offset credits.) Batteries hold 2% the energy by weight that diesel does, and they decay over time if heavily used. As for trucks being replaced after ten years, that is just until they need a rebuild; the truck might last many times that. My coworker just rebuilt a formerly rebuilt engine again and is on the road again.
    TA faces no danger from any real competition. The natural gas mentioned is normally a booster to increase diesel efficiency, not a replacement for diesel. (It can be, but only in local light-duty trucks.)
    I'm glad to have found this article; these bonds look safe and have a good yield; good job. Assuming one held to maturity, the approximate yields to maturity are:
    TANN Maturity Date 01/15/2028 YTM 8.8%
    TANO Maturity Date 12/15/2029 YTM 8.5%
    TANP Maturity Date 12/15/2030 YTM 8.86%
    I'll probably low-bid both TANP and TANO to get biweekly distributions.
    Jan 27, 2016. 07:59 PM | 3 Likes Like |Link to Comment
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