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das555

das555
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  • Assessing High-Income Covered Call CEFs [View article]
    Jerbear - you are correct.

    From Doug Albo recently: http://seekingalpha.co... in the comments section.
    Feb 9, 2015. 09:46 AM | 2 Likes Like |Link to Comment
  • Distribution cuts ahead for E&P-focused MLPs, Barclays warns [View news story]
    Agree.
    Feb 6, 2015. 04:17 PM | Likes Like |Link to Comment
  • Distribution cuts ahead for E&P-focused MLPs, Barclays warns [View news story]
    Aggregating companies with significantly different near term risk profiles.
    Feb 4, 2015. 02:49 PM | 8 Likes Like |Link to Comment
  • Plains All American Pipeline: A Risky Play In A Struggling Industry [View article]
    Dismissed...
    Jan 21, 2015. 04:44 PM | 2 Likes Like |Link to Comment
  • The Energy Sector - Risk Or Opportunity? The S&P 500 2015: Part 2 [View article]
    Pipelines anyone?
    Jan 15, 2015. 05:15 PM | 7 Likes Like |Link to Comment
  • In Search Of Income: Covered Call CEFs (Part II - Specific Funds) [View article]
    I understand what a covered call strategy is and I understand that the NAV represents all unpaid gains and asset values - equity/bond values, option premiums, short and long term capital gains (realized and unrealized) and unpaid dividends minus liabilities.. There is no hidden value not manifest in a NAV and if the NAV value post distributions is decreasing then a destructive return of capital may be occurring. That is why the key rule in assessing the success of a CEF and the sustainability of its distribution is to follow the NAV.
    Jan 8, 2015. 05:10 PM | 2 Likes Like |Link to Comment
  • In Search Of Income: Covered Call CEFs (Part II - Specific Funds) [View article]
    How does an investor get comfortable with acquiring a CEF that has not covered its distribution by NAV growth and therefore may have destructive ROC? Both ETJ (NAV earnings only 3.14%, distribution on NAV 9.32%, ) and NFJ (NAV earnings 2.32%, distribution 10.47%) are highlighted in the article as " funds of interest based on their across-the-board attractiveness" ?
    Jan 8, 2015. 12:34 PM | 1 Like Like |Link to Comment
  • Equity CEFs: Will 2015 Be The Year Of The Rotation? [View article]
    Doug,
    Please know the vast majority of your readership understands your recommendations and very much appreciates your contributions.

    DAS
    Jan 5, 2015. 02:15 PM | 6 Likes Like |Link to Comment
  • 10.6% Yielding ETW Offers Both Income And A Capital Appreciation Opportunity [View article]
    My understanding is that the NAV represents the value of all fund assets (less liabilities) divided by the number of shares outstanding - therefore option premiums, dividends and share values are all considered as part of the NAV at any given time.
    If distributions exceed the NAV growth and NAV is decreasing while distributions are "managed" at a fixed amount then these distributions may be destructive ROC.
    Accordingly, following the NAV value is essential to determine the viability of the distribution and whether the ROC part of the distribution is benign or destructive.
    Jan 3, 2015. 05:29 PM | Likes Like |Link to Comment
  • 10.6% Yielding ETW Offers Both Income And A Capital Appreciation Opportunity [View article]
    On 12/31/2013 the ETW NAV was $13.13; on 12/31/2014 the NAV was 12.29 (http://bit.ly/1HlTKY7) - not a good metric - again raising the possibility of destructive ROC and distribution reduction. Follow the NAV...
    Jan 3, 2015. 01:39 PM | 2 Likes Like |Link to Comment
  • U.S. Natural Gas Economics: $4 Works; $3 Is Too Low [View article]
    In the NG industry in the USA one can have more confidence in unbridled supply/demand economics suggesting relatively inelastic demand and price induced supply reduction will lead to higher prices of NG sooner rather than later.
    Jan 3, 2015. 09:43 AM | 3 Likes Like |Link to Comment
  • 10.6% Yielding ETW Offers Both Income And A Capital Appreciation Opportunity [View article]
    One caution in this CEF may be that the NAV total return for the past year was only 2.43% while the distribution paid on the NAV was 9.44% (http://bit.ly/1HlTKY7) - suggesting destructive ROC and the possibility of a coming distribution reduction.
    Jan 2, 2015. 05:39 PM | 7 Likes Like |Link to Comment
  • Equity CEFs: Will 2015 Be The Year Of The Rotation? [View article]
    To answer my own question (and for consideration by others) I believe QQQX is a reasonable hold at present and plan to maintain my shares at this time. The managers of QQQX had a good year with a total return on NAV of 14.93% and are paying an annualized distribution on NAV of only 7.06% (with a raise in the distribution for the last quarter of 3.08%). The fund is now trading at a discount (-3.07%) and with selling options on 50% of its QQQ holdings will capture more upside than JLA's more defensive posture if the technology run continues.
    Jan 2, 2015. 12:19 PM | 1 Like Like |Link to Comment
  • Avoid Linn Energy LLC And These Other MLP Value Traps [View article]
    The fact is as well that Mr Gue and Mr. Conrad have also reversed on MEMP and recommended it now be sold. I have not followed that advice and have added.
    Regards.
    Jan 1, 2015. 02:51 PM | 2 Likes Like |Link to Comment
  • Avoid Linn Energy LLC And These Other MLP Value Traps [View article]
    The difficulties in forecasting "buy and sell" recommendations in the recent energy space is exemplified by Mr. Gue's recommendations in an 10/09/2014 Alert to subscribers entitled "The Names to Buy in the Energy Selloff" that included MEMP and VNR.
    Can't get them all right...
    Dec 31, 2014. 01:45 PM | 8 Likes Like |Link to Comment
COMMENTS STATS
259 Comments
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