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Mercy Jimenez

Mercy Jimenez
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  • QuickChat #273, August 15 2014 [View instapost]
    Very nice jpau!
    mj
    Aug 30 10:45 AM | 2 Likes Like |Link to Comment
  • Swine Flu, MERS, Ebola And Medical News Concentrator August 16, 2014 To ??? [View instapost]
    Thanks Doc, (NASDAQ:KYTH) is now on my watch list.
    mj
    Aug 29 01:39 PM | 4 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]

    Liquidated my largest high yield CEF bond holding (NYSE:PCI) Pimco Dynamic Credit for a good gain @ $23.32. I still don't see rates rising quickly, but I have become uncomfortable with its large weighting to non-agency MBS and a strong exposure to Countrywide originated securities. I'm sure others will be just fine with this risk, but at this point in time I personally am not. Anyone interested for your own DD in reviewing details of the fund's holdings as of June 30th can see them in the semi-annual report just distributed last night. http://bit.ly/1n3QGo0

    Meanwhile several of the muni ETFs and CEFs continue their ride up. Demand is still exceeding supply issuance. My largest holdings in my taxable account are: (NYSEARCA:HYD) (NYSE:VKQ) and (NYSE:IIM). http://onforb.es/1n3QIw4

    mj
    Aug 29 11:50 AM | 7 Likes Like |Link to Comment
  • Swine Flu, MERS, Ebola And Medical News Concentrator August 16, 2014 To ??? [View instapost]
    Brilliant for OG's avatar! But I think the mid "1040's" may be a little earlier in time than you meant, WT. :-)
    mj
    Aug 29 11:41 AM | 5 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    D-Inv,

    I echo all of WT's perspective below.

    In addition I will add a word of wisdom from Investopedia: "liquidity is more of a qualitative measure, meaning there is no one quantity of stock volume that can tell us how liquid an investment is. " http://bit.ly/1tDKxVz

    IMHO there is no "minimum $ volume and share turnover" criteria to evaluate volume liquidity. Having said that I will tell you generally that I like to see the average last 10 day volume exceed 100,000 shares/day and I feel even better with a minimum 2x that much. But, I really don't have a hard set rule, except to say that when I see a CEF or ETF with only 5,000 - 50,000 shares traded -- I tend to avoid it. On the other hand, sometimes that minimum for me personally needs to be much higher if the pps is a penny stock since it is easy for just one player to stack the deck with heavy volume for small dollar amounts.

    There are also times when I find "compensating variables" in my assessment and I move my minimum criteria lower. For example I wanted to add more exposure in the high yielding muni part of my taxable account and recently added (NYSE:IIM) and (NYSE:VKQ). Their volume liquidity is just barely enough for me -- but at a 9-10% discount to NAV I was willing to make the tradeoff for these 6%+ tax advantaged monthly distributors. I am also observing that investors in some of these muni funds don't turnover their holdings as often as some other sectors so the volumes may tend to be lower.

    Like noted above -- it is a very qualitative exercise to assess volume liquidity. Hope that helps.
    mj
    Aug 27 03:17 PM | 2 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    Very poetically stated, Maya. I, too, love the diversity of thinking on the QC and I am in your camp about relatively low rates being with us for a while.
    Thx,
    mj
    Aug 26 03:14 PM | 2 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    For those interested here's an excellent article on the muni ETF (NYSEARCA:HYD) which is one of my largest fixed income holdings. The author dissects most of the risk factors to weigh in this tax advantaged 5.7% high yielder with monthly distributions: http://bit.ly/YWmAxg
    mj
    P.S. I will be watching to see whether the "liquidity rule" pending may have a negative impact and inspire a sell-off of munis at banks. http://bloom.bg/YWmAxi
    Aug 26 11:45 AM | 5 Likes Like |Link to Comment
  • Market Vectors High-Yield Municipal Index ETF, Is The High Dividend Worth The Risk? [View article]
    Reuben excellent analysis. (NYSEARCA:HYD) is one of my largest holdings in the fixed income portion of my portfolio. IMO the time to add is during one of the inevitable market panics -- such as that inspired by Puerto Rico in July. You hit most of the features which attracted me to this ETF -- many thanks.
    mj
    Aug 26 11:40 AM | Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    Yep those are good questions Doc. Last I read "Of the half a trillion dollars in investments held by Russians outside the country, roughly two-thirds is held in accounts in just three countries: Cyprus, the Netherlands and the British Virgin Islands." http://thebea.st/1ppT39f

    And maybe Argentina has now been added to the mix! LOL
    mj
    Aug 23 10:06 AM | 4 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    Update on El-Erian's why we should care about Jackson Hole - I found this chart interesting. During the past 5 years the Jackson Hole speech has generated a positive move on the S&P -- except not so this year: http://bit.ly/1l30JxY

    Just one more small data input to chew on while I watch whether Fed-speak shifts our endless euphoria. And another data point of note: US net capital outflows soared to $153.5 billion, the largest ever recorded. http://bit.ly/1l31tDi
    mj
    Aug 23 07:12 AM | 6 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    Thx TB.
    mj
    Aug 22 07:07 AM | 3 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    TB -- question -- do you no longer stick to your longer term "sock drawer" investments? I'm just interested in your perspective which I respect.
    thx,
    mj
    Aug 21 01:54 PM | 3 Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    mds -- excellent article thanks for sharing. Short term I largely agree with the author -- especially because the Fed has said they will reinvest maturing bond proceeds. Volatility may grow near term, but my strategy of staying invested in discounted high yielding CEFs (bonds/preferreds/equity and domestic/foreign) along with selective ETFs and a few individual stocks feels right at the moment. Of course if the Fed changes its messaging all bets are off.
    mj
    Aug 21 01:20 PM | 3 Likes Like |Link to Comment
  • EOG Resources: Time To Start Accumulating [View article]
    Joe,
    you may want to take a look at (NYSEARCA:IYE) iShares U.S. Energy ETF http://bit.ly/1nb7NUP
    mj
    Aug 20 04:22 PM | Likes Like |Link to Comment
  • QuickChat #273, August 15 2014 [View instapost]
    dg, I think the risk you describe is very real. It is the reason I place such a high premium on volume liquidity for any shares I trade or invest in. In a "fire" I may still get burned, but at least I've improved the odds of squeezing out the exit door.
    mj
    Aug 19 04:13 PM | 5 Likes Like |Link to Comment
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