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  • Bankruptcy Could Be In Caesars' Future After This Earnings Release [View article]
    Why is stock trading in double digits? If bankruptcy looms, common stock should be close to worthless.
    Aug 12 12:06 PM | Likes Like |Link to Comment
  • Update: Waterstone Financial Earnings [View article]
    Failed to mention the added capital from the recent conversion to a stock company. Ought to energize the strategy.
    Aug 8 12:05 PM | Likes Like |Link to Comment
  • Underwhelming Deposit Base Stymies Oritani Financial Corp [View article]
    Other banks would love to have Oritani's problems. Others are flush with deposits and/or excess capital, but suffer from poor lending growth. If Oritani can't find an attractive target, perhaps another bank would find Oritani an attractive target. They have done a great job making loans, something to get paid for.
    Aug 8 11:20 AM | Likes Like |Link to Comment
  • BlackRock Kelso: Why We Went From Bear To Bull [View article]
    Congratulations on your record of performance. I too have enjoyed the ride in the BDC, MLP, mREIT space. But that is the past, not the future. The economic cycle has made a major turn since 2009, and the easy money from financial engineering has been made. The easy money now will be made by investing in real companies, real businesses, whose stocks have been spurned by most investors.
    Aug 6 11:25 AM | Likes Like |Link to Comment
  • BlackRock Kelso: Why We Went From Bear To Bull [View article]
    You should consider principal risk vs. opportunity.
    Aug 5 10:33 AM | Likes Like |Link to Comment
  • BlackRock Kelso: Why We Went From Bear To Bull [View article]
    However risks remain including investment concentration; inability to grow loan portfolio despite booming debt market and hard to evaluate credit risks from new loans."

    You said it all right there!

    All BDCs facing similar issues, that's why I prefer the banks.
    Aug 4 04:37 PM | Likes Like |Link to Comment
  • Synchrony Financial: Why I Bought This GE Spin-Off [View article]
    Don't see any reason to buy this prior to the planned exchange offer, which will likely be appealing to existing GE stockholders, thus potentially dilutive to existing Synchrony shareholders. Synchrony management will be incented to grow via acquisitions as well as via acquiring new clients, both of which will likely dilute existing stockholders further. Plenty of cheap, recovering bank stocks to buy, ones that are more apt to be acquired than do the acquiring, thus offering more immediate rewards to shareholders.
    Aug 4 04:27 PM | Likes Like |Link to Comment
  • Goldman Sachs Picks Avery Dennison: Would You? [View article]
    Great quantitative analysis! But, great fortunes are made by considering qualitative issues, such as prospective business conditions, corporate strategy, financing opportunities, product differentiation, competitive pressures, etc.
    Jun 26 02:08 PM | Likes Like |Link to Comment
  • Why I Sold Prospect Capital [View article]
    I sold when they proposed issuing new shares below book value. Also, best days for BDCs are when poor credits abound, and that picture has changed dramatically. Banks are stepping up their lending to the same market, which further reduces BDCs choices. Finally, BDC loans are being repaid, making them more anxious to add assets, driving down quality. As for buying stocks for income alone, it is not a good idea, period!
    Jun 19 07:14 AM | Likes Like |Link to Comment
  • Enterprise Products plans world's largest ethane export terminal for Houston [View news story]
    Great for EPD! But it tells a lot about the future of the pipeline business, which they have decidedly decided to diversify away from!!!
    Jun 13 02:29 PM | Likes Like |Link to Comment
  • Prospect Capital: Don't Ignore Concentration Risk [View article]
    New information, not noted elsewhere.

    Adds to my concern about PSEC, which I sold a few months ago when they proposed stockholder approval to issue stock below book value.

    BDCs in general thrive when small cap/emerging growth/highly indebted companies are in desperate need for liquidity and are willing to pay almost any rate to get a "fix." Our economy has recovered to the point where there are slimmer pickings for the BDCs, while their hunger for new assets has continued to grow pretty significantly. Meanwhile, the banks have started to become more aggressive in making loans to the very same companies that used to depend on BDCs.

    Time to rethink the balance in my portfolio between banks and BDCs.
    Jun 13 02:26 PM | 2 Likes Like |Link to Comment
  • Caesars Entertainment: A Strong Sell [View article]
    Stockholders have to participate in the restructuring, the sooner the better. Bondholders may accept preferred stock plus warrants, as a way for the company to reduce the debt service burden, but the pain has got to be felt by the stockholders first. They cannot get a free ride.
    Jun 9 01:32 PM | Likes Like |Link to Comment
  • Caesars Acquisition hears from debt holders [View news story]
    Stockholders need to participate, not just the bondholders. Company should issue more shares to raise capital to help pay its debts, plus consider offering bondholders a package of preferred stock and warrants in exchange for their bonds. Either way, the stockholders have to participate, not just get a free ride.
    Jun 8 01:20 PM | Likes Like |Link to Comment
  • Time To Sell Enterprise Products [View article]
    EPD should NOT be the last thing you would sell; your wife should be the last thing you would sell. No disrespect, but you really should reconsider your love affair with EPD. There are many other investments you could make to get a better return going forward. Re the taxable event upon selling, I agree that is a major concern, probably the only real concern you have. Personally, I put all my EPD into a donor-advised philanthropic fund, which gave me a big tax deduction this year plus gave me a chance to sell the stock tax free. Alternatively, you could give your EPD to your grandchildren (assuming you are blessed with some) and have them sell it at their presumably low tax rate.
    May 27 01:28 PM | 1 Like Like |Link to Comment
  • Apple Is Acquiring A Fad - Not Quality - And That Is Troubling [View article]
    Exactly an overlooked point. The Apple retail business is becoming a central part of the business and can benefit from added product lines that carry the Apple cache. All that great traffic hasn't had many choices to make a purchase; this adds one more.
    May 9 12:22 PM | Likes Like |Link to Comment