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Qniform

Qniform
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  • Where Are The Digital Shorts Now? [View article]
    Agreed on the validity of the thesis. I commented pretty extensively in several of your and Adam Aloisi's articles why it was obviously incorrect. Still, the market can be influenced in equities with more complicated structures or less understood balance sheets. The same thing has happened in MLP land. Lots of people seem to buy yield without really understanding some of the business structures they're buying. Better for an educated investor as you have noted.
    Jul 14 09:19 PM | Likes Like |Link to Comment
  • Where Are The Digital Shorts Now? [View article]
    Brad, shorting a blue chip may be foolish but the term isn't precisely applicable to DLR. I know you call it a blue chip REIT, but that is a very loose use of the term. I'll have to disagree with you that "the Highfields wager was foolish." They made out extremely well as shown in their SEC filings. 1.5 million shares short in May, 1 million short in August, 500k short in November, and closed out likely by year end. Look at a chart - they made a ton.

    I was long when they publicized the short case, and remained long since. It turned out very well since I clawed my average price way down using the volatility to write options and trade around a core position. So to the extent that Highfields created a lot of volatility I agree with you that they precipitated an opportunity in the stock. I very likely already booked twice what I would have had they never presented at Ira Sohn. We should thank them.
    Jul 14 07:05 PM | Likes Like |Link to Comment
  • Resource Capital: 14% Dividend Yield Is Nice, But I'm Putting This One On Ice [View article]
    "This formula is definitely a bit radical..."

    Pretty funny.
    Jul 7 10:43 AM | Likes Like |Link to Comment
  • Resource Capital: 14% Dividend Yield Is Nice, But I'm Putting This One On Ice [View article]
    I prefer a bit more predictability. With the more speculative mReit and BDC names, I'll buy the preferred at the right price. In this case I bought RSO-B, currently trading below $24 and yielding 8.6%+. Slightly less risk a bit higher in the capital structure - barring bankruptcy, there are protections about change of control, suspension of dividends, etc.
    Jul 6 12:29 PM | Likes Like |Link to Comment
  • The 4 Most Dangerous Words In The English Language [View article]
    IMO, ONLY grammatically is it one word. It just stands for two words, just as 'her's' grammatically stands for "of her." Translated into some languages you'd have to use two words, or "construct" nouns/verbs.
    Jul 5 11:01 AM | Likes Like |Link to Comment
  • Why Gilead Is My Next Apple [View article]
    "investors pay a high price for a cheery consensus"

    Understood. Check out the durations between big pullbacks, and see the price of sitting out until the next one. This is market timing. WB doesn't do that, right?
    Jul 4 11:50 PM | 1 Like Like |Link to Comment
  • Vitacost.com Is A Compelling Risk/Reward Before Earnings [View article]
    Oh, I suppose. But resisting the urge to say I told you so, and admitting that one was wrong are about equivalent to me. Both indicate a degree of insecurity. Believe me, I'm not immune myself.
    Jul 4 10:59 AM | Likes Like |Link to Comment
  • Vitacost.com Is A Compelling Risk/Reward Before Earnings [View article]
    Both of you show the ugly side of S.A.
    Jul 4 01:43 AM | Likes Like |Link to Comment
  • Vitacost.com Is A Compelling Risk/Reward Before Earnings [View article]
    Wahoo. I wouldn't have picked Kroger as the buyer, but I'll take it.
    Jul 3 12:34 PM | Likes Like |Link to Comment
  • Why Gilead Is My Next Apple [View article]
    It's a little different if they lose 50% of their net worth, and thus have only $15 billion. Joe Schmo loses 50% of net worth, and loses his house.
    Jul 3 12:27 PM | 1 Like Like |Link to Comment
  • Callon Petroleum: A Half Dozen Reasons To Buy This $12 Energy Stock [View article]
    True. But... if you look at the other preferred issue from CPE, issued in 1995 and called in 2005 you would have done well collecting the $8.5% annual (unless you were trading the common at just the right times). CPE has a long history of paying their debts on the debt and preferred. Granted the common can go higher, but I love the greater security of more than 10% off the top. Plus, I bought CPEPRA below par and have more than 15% cap gain anyway.
    Jul 2 11:40 PM | Likes Like |Link to Comment
  • Callon Petroleum: A Half Dozen Reasons To Buy This $12 Energy Stock [View article]
    I bought the preferred. A lot safer IMO.
    Jul 2 01:48 PM | Likes Like |Link to Comment
  • J.C. Penney's Story Continues With A New Credit Line [View article]
    "The decline beginning in 2011, and continuing until Ullman returned in 2013, was not of mystical origin..."

    Oh. Then the latest wrinkle in the turnaround plan is probably misguided.

    http://bit.ly/1rYcDZa
    Jul 2 01:01 PM | 2 Likes Like |Link to Comment
  • Why Gilead Is My Next Apple [View article]
    Several minor factors for me. Lower expense ratio, twice the size (thus liquidity), less volatility, lower UNII deficit. This is a pretty small position for me. Like galicianova, my position in PJP is many times larger. It's a better way to play the space as a whole. I like the top three positions (GILD, CELG, REGN) enough to own them individually.
    Jul 2 03:33 AM | 1 Like Like |Link to Comment
  • Why Gilead Is My Next Apple [View article]
    Yes, T.A. It is a combination/cocktail regimen which has yet to receive FDA approval. http://bit.ly/1z6qYre

    As for marketing, it is hard to say whether doctors will like a 4-drug cocktail vs. Sovaldi. There are many more opportunities for adverse reactions after all. Other players are also trying to compete. BMY is one. http://bit.ly/1z6r5mO
    Jul 1 10:30 PM | Likes Like |Link to Comment
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