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davidbdc

davidbdc
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  • Best Long Idea For 2015: BNCCORP [View article]
    Mike,
    I don't think that my ideas are the be all end all of ideas and I also believe that there are a lot of people with great ideas.

    To the author's credit he recommended GPT when it was 3 or 4 bucks and I believe at the time I favored RAS. While RAS has done well GPT has done much better.

    IMO the author does good research and I've rarely read anything he publishes that makes me shake my head or feel I've wasted my time. So yes, on occasion I trust that others have ideas or insights that I don't and I act on them.

    Regards,
    Dec 17, 2014. 06:16 PM | Likes Like |Link to Comment
  • Best Long Idea For 2015: BNCCORP [View article]
    Thanks for the reply.

    If I picked something then I'd think the proper measurement would be from the time I picked it. As I said, not trying to be disparaging.

    Anyway, its too bad there aren't options. Since a sale is somewhat speculative I think there that my speculative $'s will go directly to E&P. But I do appreciate that you publish your articles here.

    Regards
    Dec 17, 2014. 06:08 PM | Likes Like |Link to Comment
  • Best Long Idea For 2015: BNCCORP [View article]
    Chris - thank you for the idea.

    Two things - 1. I have to take some issue with your claim of being up 120% with last year's idea. I didn't fully understand the idea but I bought a small amount. I can plainly state that I'm not up 120%. Not saying that to be disparaging but from when your article was published - I bought a day or few days after - I believe things are basically the same in terms of price.

    2. How likely is a sale this coming year? The reason I ask is that perhaps options are the better way to invest in this likely event? It seems to me that absent a sale this is really an investment in the continued growth in oil/gas in the region. Given the shellacking that many E&P firms have taken I'd rather put money into them directly if I'm betting on a turn around in oil prices. So to invest in the bank is really a bet on an event (sale) taking place.

    Thanks
    Dec 17, 2014. 02:38 PM | 4 Likes Like |Link to Comment
  • Prospect Capital suspends ATM stock issuance program as dividend is cut [View news story]
    Its a good move. I have no issues with it. The one thing missing is a revise agreement with the external management company.

    Nothing should be paid on the cash carried. And any spinoff that doesn't include shares to current shareholders should NOT be part of assets under management calculation. Fees are excessive currently and need to be reined in.
    Dec 8, 2014. 07:47 AM | 2 Likes Like |Link to Comment
  • A Fundamental Analysis Of American Realty Capital's Likely Dividend Cut [View article]
    Brad, I agree with much of what you've written, but I don't follow how you think Cole Capital is worthless?

    If/when they issue their updated financials and there are no other accounting issues I would believe some of the firms that dumped Cole at the mention of accounting scandal will reverse. Certainly not all but some will. IMO that would leave Cole as being diminished and worth less - but that is a space with plenty of big dreamers and have to believe there is another deal to be had should ARCP still want to sell.

    I expect there will be a dividend reduction - say from 8 cents down to 6. And that would be fine and sustainable from what I've been able to dissect. Also, it seems to me that the biggest overhand is that the Chairman needs to go. The new CEO has a decent reputation and if he were elevated to chairman/CEO that would put to rest concerns he will leave and also kill off the elephant in the room.
    Dec 8, 2014. 07:41 AM | 5 Likes Like |Link to Comment
  • Russia follows OPEC decision, keeps output unchanged [View news story]
    Russia is not a USA territory and so does not use US dollar as currency
    ----------------------

    Uh, I have many Russian friends that would beg to differ.

    They use dollars when they travel. They "save" part of their money in the form of US dollars. And you can buy just about any personal service in Russia with greenbacks.

    Inflation has accelerated the past couple of months and the average Russian is beginning to see/feel the impact - from less choices in the supermarket to higher prices in general.
    Nov 30, 2014. 09:38 PM | Likes Like |Link to Comment
  • Oil (and gold) back on the move as markets reopen [View news story]
    "I trust the administration".

    Always good to read something that makes me laugh.
    Nov 30, 2014. 09:30 PM | 14 Likes Like |Link to Comment
  • The Long Case For Marine Harvest [View article]
    UP - you might want to do some research. MHG has been putting a lot of effort and $'s into raising its own feed. Believe we will be about 65% in 2015 and that # can increase going forward.

    MHG is in a good position. They have long term increasing demand and are currently structured to be a vertically integrated producer. I see strong growth and strong dividends in the future.
    Nov 16, 2014. 09:02 PM | Likes Like |Link to Comment
  • The Long Case For Marine Harvest [View article]
    Agree that MHG is a solid company and has good forward prospects due to demographics and strong demand for salmon.

    However, don't expect a lot of price appreciation. MHG is committed to paying out dividends (which is good!) and that will lead them to selling at a cheaper valuation than most other food companies.

    In fact, the dividend is the reason to own MHG. The board has a pretty clear mandate laid out and defined the financial metrics that will determine the payout.

    I own and am happy with the dividend and general direction of the company.
    Nov 13, 2014. 11:35 AM | 1 Like Like |Link to Comment
  • Prospect Capital management and investors go back and forth on earnings call [View news story]
    Unfortunately, that is what I took away from the call also (so if its correct their theory about protecting this great idea is kind of down the drain).

    If we as shareholders don't receive any shares in the new entities then this is just an example of management spending their time and effort enriching themselves while doing nothing for shareholders.

    I invested because I believed that Barry is/was an exceptional finance guy with good business sense. It appears he's using that sense to try to finagle a way for his management company to increase their fees!!

    I would have no issue if he wants to spin off the Real Estate into a REIT and distribute it in full to shareholders - fine. But no way will I vote to boost managements pay, increase financial complexity (which scares away investors in the long run), and waste time and effort that should be spent on doing deals that sustain the distribution.
    Nov 8, 2014. 02:30 AM | 2 Likes Like |Link to Comment
  • Activism In Mall REITs Is Alive And Well [View article]
    Where do you get the information that PEI's malls only have $24 per square foot?

    This is nonsense.

    As is the idea put forth by this firm. PEI has been steadily increasing NOI and same store sales in its properties. They have sold off a few malls they deemed as non-core properties.

    This shareholder wants them to tell this hedge fund clown to pound sand. They are doing the hard work of improving the assets owned and running them well. That doesn't happen in a spreadsheet.

    There is zero reason management should spend one minute of their time with this clown. They have outlined their strategy going forward and if he doesn't like it he should sell and move on - he's not a long time shareholder and has no long term interest in the company. We do not need financial engineering.
    Nov 1, 2014. 01:47 AM | Likes Like |Link to Comment
  • Targa Resources Raises The Bar For MLP Acquisitions [View article]
    Steve,
    Thank you. My understanding is that the APL will be a 1031 exchange but that the ATLS piece is a sale of assets and the tax man will be expecting large checks.

    They had indicated on the conference call that the ATLS transaction was a taxable event.
    Regards,
    Oct 24, 2014. 01:27 PM | Likes Like |Link to Comment
  • Activist details plan on PREIT [View news story]
    Land & Buildings owns less than 1% of the stock and they have not been in PEI for a long time.

    Management should tell them to pound sand.

    We should continue to see increasing NOI and let that flow through to shareholders via increased dividends and everything will take care of itself over time.

    Just because on company overpaid for some assets doesn't mean the market will then value all similar assets at the same valuation. PEI has done an overall good job of coming out of the financial recession. Not perfect but pretty good and shareholders should be able to look forward to increased dividends and higher share price over time.

    We don't need financial engineering BS.
    Oct 21, 2014. 12:13 AM | 1 Like Like |Link to Comment
  • Targa Resources Raises The Bar For MLP Acquisitions [View article]
    APL and ATLS unitholders got taken to the cleaners. After we get done paying taxes we'll have lost a lot of money and get a smaller distribution!!

    Total BS.
    Oct 15, 2014. 12:06 PM | Likes Like |Link to Comment
  • Atlas Resource Partners: What Does The Recent Transaction Mean? [View article]
    It means unit holders will end up holding the bag as usual.

    Cohen in the most recent quarterly call swore that there was no plan to consolidate the entities..... less than two months later we have a fire sale.

    We got ZERO, NADA, ZIP for the PXD production growth that is ALREADY COMMITTED!!!!

    This deal is a giveaway and unit holders will be handed the tax bill. I'd have been better off selling in the open market 6 months ago!!
    Oct 15, 2014. 08:56 AM | 1 Like Like |Link to Comment
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