Tortoise Investor

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  • American Capital Agency: Disaster  [View article]
    Why do we keep talking about rising interest rates? The 10-year T-note yields 1.88% this morning. For the Fed to continue raising rates this year would require more cajones than I think they have. I worry more about recession, layoffs, foreclosures and lack of demand for mortgages even at rock bottom rates.
    Feb 2, 2016. 01:38 PM | 3 Likes Like |Link to Comment
  • TrustCo Bank: How Often Do You Find A Safe 5% Yield?  [View article]
    Getting "out of the box" and growing the business does not always end well. I could tell you some stories. In these times, sticking to your knitting may be the best idea.
    Jan 24, 2016. 11:56 AM | Likes Like |Link to Comment
  • Independence Realty Trust makes its case  [View news story]
    For getting beaten like a rented mule.
    Jan 20, 2016. 12:56 PM | 1 Like Like |Link to Comment
  • Exelon: Utility Selling At 10-Year Lows, Again  [View article]
    The less Congress does, the better.
    Dec 19, 2015. 07:50 AM | 1 Like Like |Link to Comment
  • Wait... I Am Having Twins? A REIT For The Boys' Future (Part 3 Of 4)  [View article]
    REIT legislation was enacted in 1961. I think Realty Income started in 1969 with one Taco Bell. I also think 46 years is a long enough track record from which to conclude that they can continue to do what they've been doing. That's why the market values the company at a premium. And if you want premium, you pay up.
    Dec 14, 2015. 10:32 AM | Likes Like |Link to Comment
  • Could REITs Cut It Like Kinder?  [View article]
    Brad experienced 2007-2009. I think that was a down market for REITs and just about everything else.
    Dec 11, 2015. 08:59 AM | Likes Like |Link to Comment
  • Could REITs Cut It Like Kinder?  [View article]
    With due respect, RAS is a pretty poor comparison. It's never been a highly-rated or highly-respected REIT and it's more "mREIT" than "eREIT". Whereas Kinder Morgan is a best of breed. RAS collapsed to penny stock status during the recession.
    Dec 11, 2015. 08:55 AM | 1 Like Like |Link to Comment
  • Is There A Problem With W.P. Carey?  [View article]
    It raises its dividend by fractions every quarter. It also, every other year or so, raises the dividend three or four cents in addition to the quarterly increases. It could not have reached the dividend it pays now if it were only raising by fractions of a penny every quarter.
    Nov 19, 2015. 11:44 AM | Likes Like |Link to Comment
  • Is There A Problem With W.P. Carey?  [View article]
    You are all looking at Europe in conventional financial contexts. Exchange rates and such. What about geopolitical risks. Europe is committing suicide via immigration policy and low birth rates of native Europeans.
    Nov 18, 2015. 10:00 AM | 3 Likes Like |Link to Comment
  • 50% Potential Upside At Inland Real Estate  [View article]
    IRC is a triple-net REIT?
    Oct 17, 2015. 01:11 PM | Likes Like |Link to Comment
  • Sell Arlington Asset Investment Corp.: Dividend Reduction Is Imminent  [View article]
    Dividends are not return of capital unless so designated. A REIT's dividend can consist of ordinary income, ROC, capital gain, etc.

    To say that all of a payout is ROC is incorrect.
    Sep 19, 2015. 07:35 PM | Likes Like |Link to Comment
  • Sell Arlington Asset Investment Corp.: Dividend Reduction Is Imminent  [View article]
    Agree. The Fed is caught in a trap. Can't raise rates; can't lower either (lower to what?). In addition to everything else that was going on, this week's 1,000-point drop pretty much clinched it.

    It's not going to end well regardless. Things are beyond repair. We are driftwood, going where the currents take us.
    Aug 22, 2015. 09:47 AM | 2 Likes Like |Link to Comment
  • This Is What's Happening In Junk Bonds, And It's Not Pretty  [View article]
    Yeah, like Obama and his flacks never dictate terms to the Fed. Of course, it may be that they don't have to. The Fed board is probably left-of-center to begin with.
    Apr 27, 2015. 11:16 AM | 1 Like Like |Link to Comment
  • Is Puerto Rico Heading For A Crash?  [View article]
    Make it a state? Are you nuts?
    Apr 5, 2015. 09:06 PM | 1 Like Like |Link to Comment
  • Trick Or Treat, You Can't Beat This REIT  [View article]
    Being a triple-net REIT, O is capable of sustaining a high payout ratio, much higher than office, apartment and mall REITs. So payout ratio does not concern me. As for insider sales, they've had those for years. As I recall, there isn't that much insider ownership to begin with. That said, I'm not buying at this point. For one thing, I'm overweighted as it is. Second, too many macro concerns.
    Oct 2, 2014. 10:15 AM | Likes Like |Link to Comment