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das555

das555
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  • Equity CEFs: Funds With Strong NAVs And Weak Market Prices [View article]
    Thank you for your sharing of experienced insight.
    Sep 22 05:38 PM | Likes Like |Link to Comment
  • Equity CEFs: Take A Chance On GGZ, Mario Gabelli Did [View instapost]
    Thank you - I believe I will - $2 to win...
    Sep 17 10:00 AM | 1 Like Like |Link to Comment
  • Vanguard Natural Resources: A Major Bet On Natural Gas [View article]
    I own VNR for the income and not as trading vehicle, therefore the day to day price affects me little. I thus far believe the management that the DCF shortfall is transient - but will stay tuned...
    MEMP appears solid with a pantry full of possible drop downs from its GP.
    Sep 16 11:32 AM | 1 Like Like |Link to Comment
  • Retirement Strategy: How Will Rising Interest Rates Affect Dividend Growth Investors? [View article]
    I thought most Dividend Growth Investors focused primarily on the soundness of the underlying business model of their holdings and thus the security of their dividends and their growth - not macroeconomic issues and guesses as to timing of interest rate fluctuations. The mantra for many has been to find and hold good businesses with safe and growing dividends and hold them unless the business model falters.
    Sep 14 08:50 AM | 3 Likes Like |Link to Comment
  • Equity CEFs: Buy JLA Over QQQX [View instapost]
    The arbitrage works for JLA holders as long as the market price of QQQX is relatively at more of a premium to NAV than JLA's market price to NAV.
    Sep 6 06:43 PM | Likes Like |Link to Comment
  • Equity CEFs: Buy JLA Over QQQX [View instapost]
    An average of 51,000 shares per day of QQQX have been bought over the last ten days - hard to figure....
    Sep 5 01:53 PM | Likes Like |Link to Comment
  • Equity CEFs: Don't Judge A CEF By Its Yield [View article]
    How is an investor to correctly interpret the current YTD total NAV performance of a CEF in the context of a longer time frame performance when contemplating a purchase of that CEF? For instance, while GRX has an outstanding total return history, the current calendar year total return is listed by CEFConnect as only 4.47% which is significantly below category 15.62% and leaves a lot of catching up in the last third of 2014 to come close to its 2013 total return of 28.7%. Should a decelerating total NAV performance as seemingly manifest by GRX dissuade a CEF investor?
    Sep 2 06:18 PM | 1 Like Like |Link to Comment
  • Philip Morris International: The Dividend Stock To Buy In 2014 [View article]
    The industry is ultimately going to share the same fate as its customers....
    Aug 24 04:38 PM | 1 Like Like |Link to Comment
  • Weekly Intelligence For MLP Investors [View article]
    You would simply avoid the additional tax on the November distribution if sold before receiving the distribution - no change on tax obligation from previous distributions.
    Aug 24 10:59 AM | 2 Likes Like |Link to Comment
  • Vanguard Natural Resources: The Lackluster Coverage Ratio Remains A Concern [View article]
    I have held VNR for quite some time for it's monthly dividend which I believe is safe. I will continue to hold it for the same reason. Most companies have rough patches and this management is taking steps to shore things up in the face of an adverse NGL market. I would say "Market Perform" is about right and OK with me.
    Aug 6 04:36 PM | 1 Like Like |Link to Comment
  • Equity CEFs: New Kids On The Block [View article]
    I don't believe Mr. Albo meant to suggest that the new CEF is bought with an intent to lose investment value but rather that when investment value is diminished, as is often the case with new issue CEFs, then the sale of the purchase which has lost value can and often is used as a tax abatement. The sale then for tax abatement further contributes to a fall in CEF price.
    the unvirtuous circle...
    Jul 22 01:42 PM | Likes Like |Link to Comment
  • Kinder Morgan companies lower AH as Q2 earnings miss estimates [View news story]
    EPS of no importance with MLP structure. Distributable Cash Flow is the metric and is increased. Pleased holder.
    Jul 16 06:33 PM | 18 Likes Like |Link to Comment
  • Enhancing Retirement Income With A Portfolio Of Covered Call CEFs: Part I [View article]
    When JLA is merged with QQQX there will be a change in option writing strategy for JLA. QQQX the remaining fund will write options on approx 55% of holdings as opposed to JLA's current 100% option writing strategy (http://bit.ly/1qQIVEW). JLA shares then, when converted, will be less defensive. Still a good current arbitrage opportunity however (http://seekingalpha.co...).
    Jun 15 12:01 PM | Likes Like |Link to Comment
  • Equity CEFs: QQQX And JLA Merger Opportunity [View instapost]
    This is a relatively straight forward calculation. Nuveen has stated the merger will be based on the relative NAV values of JLA and QQQX while the financial impact to the JLA holder will be dependent upon the relative Market Values of JLA and QQQX.
    For simplicity sake, assume JLA and QQQX each had the same NAV value $10 - then at the merger, for each share of JLA you would receive one share of QQQX. But if at the merger the Market Value of JLA was say $9 (a discount to NAV value) while the Market Value of QQQX was $11 (a premium to NAV Value) the holder of a share of JLA would exchange his JLA share (worth $9) for a share of QQQX (worth $11). Merger based on NAV Value, financial impact based on Market Value - allowing the nimble investor to potentially exploit the difference. In an efficient market, one would expect as the merger approaches, the JLA share to sell up from $9 to at least it's NAV of $10 and the QQQX share perhaps to sell down to its NAV of $10 thereby eliminating the arbitrage opportunity. The market however is not always efficient and CEFs in particular are often poorly understood - giving rise to the current opportunity pointed out by Mr. Albo. Currently JLA is selling at a 5.05% discount to NAV while QQQX is selling at a 1.21% premium to NAV - the only way this doesn't work out well for the JLA purchaser is if QQQX sells down from it's current premium to a 5.05% or greater discount (which I view as unlikely).
    Jun 8 10:44 AM | 3 Likes Like |Link to Comment
  • Equity CEFs: QQQX And JLA Merger Opportunity [View instapost]
    I see it the same way and have been a steady buyer of JLA.
    Thanks.
    Jun 6 10:19 AM | Likes Like |Link to Comment
COMMENTS STATS
182 Comments
416 Likes