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Qniform

Qniform
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  • You're Not A Sucker, But We All Should Be Better Second-Level Thinkers [View article]
    Hi Brad. It's kind of problematic seeing NLY in the same article with equity REITs. They really are fundamentally different businesses. Of course, the point is well taken about yield chasing, and anyone buying mREITs must understand that they are playing an interest rate spread/compression game which is inherently shorter term and subject to FRB action as it (being the largest mREIT in history) inevitably puts its book in run off mode.
    Sep 8 01:52 PM | 1 Like Like |Link to Comment
  • Dril-Quip: Share Buybacks And A Strong Backlog Bode Well For Oil Equipment Firm [View article]
    Volatility is my friend here. My basis is lower than yours MF but still not in the green. Still, buying on weakness in this cyclical space is the right thing to do, especially the best names. I'll keep on nibbling...
    Sep 8 12:27 PM | Likes Like |Link to Comment
  • Will The Lobster Deal Be A Tipping Point For This Net Lease REIT? [View article]
    Hi Brad. In my experience a TI customer of the developer would not be likely to have received public incentive money (assuming that is what you're talking about). Red Lobster is not the direct payer of relevant property tax, and I think FL has a constitutional ban on income taxes.
    Sep 7 08:39 PM | Likes Like |Link to Comment
  • What You Need To Know About Backtesting A Strategy [View article]
    Thank you for the interesting article. Re: the discussions about risk, I have a rather jaundiced view which affects any strategy, including backtesting. And I read something which I actually agree with recently in that regard here. http://bit.ly/1t33crm

    I have strategies and trade for fun, but for the large majority of my portfolio, I allocate among asset classes and hope to manage correlation. Not so easy these days.
    Sep 6 09:21 PM | Likes Like |Link to Comment
  • Paragon Offshore: A Spin-Off With Minimum 40% Upside Potential [View article]
    Offshore may mean they are not land drillers, no?
    Sep 6 12:50 AM | Likes Like |Link to Comment
  • DGI For Dummies: Managing Your Dividend Growth Portfolio [View article]
    Thank you for being transparent about your thoughts, NW. Some minor quibbles about your chart and comps - if you start your period at the 10/07 market peak, you'll see that XOM crossed your blue line in 2/10, 11 months after the 3/09 bottom. It has also significantly underperformed since. Also in a larger sense, VV might be a better baseline comp against your selected group since the S&P 500 actually weights at around 70B. Good luck.
    Sep 5 05:00 PM | 1 Like Like |Link to Comment
  • Ocean Rig: Multiple Valuation Methods Show The Company Is Undervalued [View article]
    Nice work RH. It's certainly time for value investors to look at this space.
    Sep 4 09:50 PM | Likes Like |Link to Comment
  • AT&T And Consolidated Edison A 'Tell' Of 2 Champions: Part 3 [View article]
    Chalk it up to one more disagreement about how to evaluate reality. That's no surprise. But it's telling that you want to respond to me this way, when you decided to say nothing when I helped you with the question you had above. You're welcome anyway.
    Sep 4 09:40 PM | 3 Likes Like |Link to Comment
  • AT&T And Consolidated Edison A 'Tell' Of 2 Champions: Part 3 [View article]
    enthusiastic, there many measures and you should use all of them to evaluate what you see of the financial metrics. One useful metric I use when looking at capital intensive companies (which usually have high debt) is EV/E. By this measure, T is significantly cheaper at a bit more than 14x compared to ED at more than 22x. However, the comparison between these two companies is questionable for many reasons - just a couple include, 1) they are vastly different sizes, and 2) ED operates in essentially a non-competitive situation while T does not (as I noted above). The only reason I can see to mention these two together is that they both pay a dividend, and many here on SA seem to believe that justifies head to head comparisons of apples and orangutans.
    Sep 4 06:15 PM | 3 Likes Like |Link to Comment
  • Dril-Quip: Share Buybacks And A Strong Backlog Bode Well For Oil Equipment Firm [View article]
    MF, this is yet another great article about an off the beaten path subject. Very valuable and it somewhat redeems what SA provides. I'm surprised this article wasn't a Pro pick. I do think DRQ is a take out candidate, but a good investment regardless. I'm curious about your thoughts on MRC (for much the same reasons DRQ is a good pick).

    Long DRQ, and used the weakness today to sell OCT$95 puts.
    Sep 4 01:38 PM | Likes Like |Link to Comment
  • AT&T And Consolidated Edison A 'Tell' Of 2 Champions: Part 3 [View article]
    Good quote. It sounds like Will had a real idea of what ROIC is.
    Aug 31 11:47 AM | Likes Like |Link to Comment
  • AT&T And Consolidated Edison A 'Tell' Of 2 Champions: Part 3 [View article]
    By your definition, a sale of the asset puts yield at zero and does not account for the sale proceeds. Investopedia is not an academic source, my friend. GAAP accounting requires mark to market of held assets - why do you think that is?

    But really, I'm not invested in a long running "dueling comments" thread here. Good luck.
    Aug 31 11:44 AM | 1 Like Like |Link to Comment
  • AT&T And Consolidated Edison A 'Tell' Of 2 Champions: Part 3 [View article]
    Oh, really? Maybe some KMP investors would disagree. Just one of many possible examples.
    Aug 31 12:30 AM | Likes Like |Link to Comment
  • AT&T And Consolidated Edison A 'Tell' Of 2 Champions: Part 3 [View article]
    <Yield on cost is simply return on invested capital.>

    Negative. Total return = ROIC. Yield on cost is a largely psychological exercise in the DGI world.
    Aug 30 09:12 PM | 5 Likes Like |Link to Comment
  • Transocean: High-Yield Contrarian Play Continues To Bottom [View article]
    Don't forget ORIG. As for NADL - pass until there is some disclosure on the Russian deal (especially the pig in a poke land rigs for a cool billion).
    Aug 30 09:05 PM | Likes Like |Link to Comment
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