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MartyFL

MartyFL
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  • Rough Day for Master Limited Partnerships [View article]
    Let's hope they realize these MLP investments are primarily held by smaller individual investors and not the big rich fat cats they are always blasting about not paying their fair share. I am afraid the small guy may get hurt again.
    May 4 11:01 AM | 12 Likes Like |Link to Comment
  • Sleep at Night Investments: Utility Preferred Shares [View article]
    I appreciate your article. I've read some of your reader comments in the past. Always helpful comments and a great start as a writer. Since you included Southern CA Edison, they also have an adjustible OTC preferred SCEDN. It is just barely over par, callable and pays a tad over 5%. It has a nice, generous rate formula: 145 bps + the highest of 3 month Libor, 10 yr treasury & 30 year Treasury. It can help mitigate the interest rate risk and helps to diversify a preferred portfolio away from fixed and financials.
    The only concern I have with this issue is they could call it if rates rise but of course they would have to refinance it at current rates.
    Apr 27 09:03 AM | 7 Likes Like |Link to Comment
  • Why I Sold Apple And Bought Yahoo [View article]
    civ-e,
    I agree with you. "My Yahoo" had been rendered so utetterly useless to be worthless. Same thing for their new mail, calendar and groups.

    It seems that the author is judging Yahoo by fancy talk from a new CEO rather than evaluating the destruction of Yahoo's core products. Traffic comes from users. Meyer seems to want to revamp Yahoo to be like Google.Many of those customers are now going elsewhere including myself. If users wanted Google functionality they would have switched. This reminds me of when Home Depot made the mistake of hiring Nardelli who went about destroying the customer experience but getting Wall Streets praise cause they only looked at the bottom line. The bottom line suffers longer term when you abandon your customers as Yahoo/Meyer are doing.
    Feb 3 02:25 PM | 5 Likes Like |Link to Comment
  • Hedgeye Report On Kinder Morgan Fails To Impress [View article]
    So, I think we could have a popular club. You can buy in now.
    Sep 11 07:00 PM | 5 Likes Like |Link to Comment
  • Bears Attack Kinder Morgan [View article]
    I am not an MLP pipeline analyst. However, I read this report with great interest. My overall impression was: that's all? It mostly seems a matter of opinion in that they focus primarily on whether the Kinder companies spend enough on maintenance or use up their assets only to replace and increase capacity at the end of the life and categorize that increase as capex. From what I could gather, they did not do industry comparisons so I have little to judge their claims by. My impression is they spent a lot of time analyzing this company and came up with little.

    I wonder if Kinder companies identified takeover companies that were over spending on their maintenance and realized big savings and cash flow by better management.

    Since the pipeline and storage industry has been growing rapidly, it seems the decision to minimize maintenance and to replace and increase capacity has been a good one. Why spend excessively on assets you intend to replace?

    Without comparing spills and maintenance expenses to the industry the report does not appear to find substantial issues rather opinions. I'm happy they seem to be maximizing returns to investors.

    I'm sure interested in reading other opinions. Thanks for sharing your interpretations.
    Sep 10 01:13 PM | 5 Likes Like |Link to Comment
  • Alerian MLP ETF Cuts Expense Ratio To 4.85% [View article]
    Mikejack,
    Here are some alternatives that do not incur the excessive expense tax hit that the MLP ETFs do. Just to be clear, I did not say there were ETF alternatives. I am not aware of any ETFs that avoid that extra tax. If I did, I would buy it. But my understanding is that ETFs are the wrong security to invest in MLPs because they have to pay tax which significantly reduces your return.

    ETNs (yes, I know there is credit risk with them but let me say there is credit risk with just about every investment. We all have to make our own evaluation of the risk/reward. I believe the risk can be reduced by buying ETNs from several different issues and monitoring their credit rating - that's what I did) or the corporate versions some MLP companies offer are the way to go, in my opinion. If one is concerned about the risk of an issuer one can decide to sell at the first sign of a financial issue. Right now, the issuers are doing well. I don't see one defaulting overnight with the value of the security going to zero. That's my judgement. Others may disagree.

    Some ETNs: AMJ. IMLP, MLPI, MLPY (I own AMJ and MLPI)

    Traditional stock version of MLPs:
    LNCO, EEQ, KMI, KMR (I own KMR)

    Hope this helps. A 4% or greater haircut makes these ETFs completely unattractive to me.
    May 5 12:53 PM | 5 Likes Like |Link to Comment
  • Preferred Stock Investing: The Income Alternative You Haven't Considered [View article]
    Let's just keep politics and other non-investment issues off of SA. If you've ever seen the comments on Marketwatch you will see how a great site can be ruined. Stick to investment info, please.
    May 14 02:52 PM | 5 Likes Like |Link to Comment
  • Why I Write About High Yield... But Am Not A Demagogue About It [View article]
    Good for you. It sounds like you had some negative comments that provoked you to write this. Sorry about that. There are inconsiderate people everywhere.

    I tend to agree with your investing style. I used to be a growth stock investor but market and employment situations have changed so that I now prefer those investments that now "show me the money" while being cautious, diversified and conservative.

    Hope you don't get blasted too much for your comments about those right wing ideologues. Good statements that will annoy a lot of people that can't stand the truth.

    Keep up the writing. I've enjoyed it.
    Apr 25 09:55 AM | 5 Likes Like |Link to Comment
  • Master Limited Partnerships And Your IRA [View article]
    I really appreciate the research you did and your references to the them. However, for those of us that are in the slow lane, I still have not seen any of these other sources clearly stating that the sale of an MLP will generate UBTI for the tax exempt account. They may indicate some of the yearly payments may be considered UBTI. Most of us have all acknowledged that. For most SA investors, that amount is small and well below the $1000 annual threshold. So, that part is irrelevant.

    The part that I am still unclear of is whether the gains realized upon the sale of an MLP generates UBTI and if it is significant. I would greatly appreciate it if someone would provide a link to an article or more authoritative site (IRS) that specifically says that the gains from the sale of an MLP in a tax exempt account will generate UBTI due to the recapture of the depreciation and depletion allowances. That is the big issue that Reel Ken has raised.

    Again, thank you very much for whatever help you can provide. This entire issue has raised some great points that many of us would like to get clarified.
    Dec 8 03:56 PM | 5 Likes Like |Link to Comment
  • 5 Preferred Stocks for High Income and Safety [View article]
    I like your idea of looking outside the universe of financials for preferreds. However, buying fixed income investments above par with short call times requires one calculate the YIELD TO CALL. The CFOs of these corporations are unlikely to leave them uncalled if they can reissue at lower rates. YTC is far less than the quoted current yields (around 3%). The current yield is very misleading to the casual reader.
    May 15 10:27 AM | 5 Likes Like |Link to Comment
  • Sleep at Night Investments: Utility Preferred Shares [View article]
    IShares filed papers with SEC to offer a foreign Preferred Stock fund. Keep your eyes open. It should come out late summer or fall. I'm waiting for it myself.
    Apr 27 09:11 AM | 5 Likes Like |Link to Comment
  • Why I Will Start Social Security At Age 62 [View article]
    I also do not believe Martinfrosa is correct about the Roth & IRA complications.

    I have been converting parts of two separate IRAs (one is now completely converted, the other in process) since they first began allowing it. I do the conversions towards the end of the year so I can estimate my tax bracket and convert amounts that do not move me into a higher bracket. In years when I was in a high bracket, I did no conversion. I am trying to move about 1/2 of my tax advantaged funds to Roths before I reach mandatory withdrawal age because by the the RMD, pensions and SS will probably have me in higher brackets so I'm paying the tax now are historically low rates.

    I have had no issues or questions raised by the IRS, T Rowe Price or Schwab regarding my partial conversions. I am under 59 if someone wonders about that as well.
    Aug 28 07:06 PM | 4 Likes Like |Link to Comment
  • Dividends Matter If They Matter To You [View article]
    Gabby, I don't believe this is correct:
    " A conversion now is treated as a distribution from the IRA (PENALTY), and then is converted to a Roth. "

    I am younger than 59 and have been periodically converting IRA funds to a Roths for longer than I can remember. I've done it at T Rowe Price and Schwab. I've had to pay income tax on the amount converted but never incurred a penalty. It is not treated as a distribution penalty wise. I sure hope I never receive a little letter from the IRS about those conversions :)
    Aug 15 05:43 PM | 4 Likes Like |Link to Comment
  • Hedgeye Report On Kinder Morgan Fails To Impress [View article]
    Stew, I've noticed that all over even with well educated people. So, they all seem to be starting their thoughts with so. Drives me nuts.

    So, are we getting too old and cranky?
    Sep 11 04:26 PM | 4 Likes Like |Link to Comment
  • MLP ETF Expenses Hit The Fan [View article]
    Ron,
    You keep waring people who fail to understand. Each time I read your warnings, I see people simply claiming it doesn't matter cause they are receiving 6% income (however they want to describe it). It's so disappointing to see how many people don't understand finance and these are the ones presumably educated and trying. No wonder the majority of the savings and retirement savings are in such poor shape. And to top it off a large amount of these people want the government to leave them alone completely while it is clear they can't, don't and won't prepare for retirement (or healthcare) on their own.
    Aug 17 02:51 PM | 4 Likes Like |Link to Comment
COMMENTS STATS
397 Comments
326 Likes