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Dozo

Dozo
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  • An unmistakable trend is under way as investors cash in their bond ETF holdings and pour the money into stock funds. "A lot of fixed-income oriented people have decided to start chasing equities," says an ETF trader, as they fear being left behind by an equity market juggernaut (they already have been). Also seeing a rush are precious metals ETFs - the physical and the miners. [View news story]
    I have nothing against physical holdings of gold; however, I prefer IAU/GLD as an inflation hedge. What am I missing?
    Sep 22, 2012. 10:38 AM | Likes Like |Link to Comment
  • Prospect Capital: A Better Choice To Earn Double Digit Dividend Yield [View article]
    Tim,
    Your comment makes sense to me and is much appreciated.
    Thanks
    Sep 13, 2012. 05:55 PM | Likes Like |Link to Comment
  • Prospect Capital: A Better Choice To Earn Double Digit Dividend Yield [View article]
    I am long several MREITs--CYS, AGNC, NLY, ARR, and just added PSEC. When interest rates start to rise will the BDCs be affected the same as the MREITs?
    Sep 13, 2012. 12:05 AM | Likes Like |Link to Comment
  • The success of the mortgage REIT industry (both in garnering AUM and providing shareholder returns) is swell, writes Sober Look, but will end as another chapter in the story of leverage. Borrowing short and lending long, the companies are exposed to rising rates and the chance of financing being cut off - threatening not just shareholders, but U.S. mortgage markets. [View news story]
    Unless congress passes legislation to mitigate sequestration and extend--at least some of the Bush tax cuts--the stock markets will swoon. How much, your guess is as good as mine. The 'swoon" (for lack of a better word) will take down every public equity. My money says holders of individual investment grade corporate bonds will do just fine. I have a bunch of individual and corporate bonds, but also inter alia hold CYS (my favorite) PSEC, NLY, AGNC, AAR, IAU, EXC (hate, but will hold), and PEMDX. If I ever sell my VWIAX, VWELX or VGHCX, it means the barbarians are at my door and you should flee as well.
    Sep 12, 2012. 04:52 AM | Likes Like |Link to Comment
  • As part of its merger agreement with Constellation, Exelon (EXC +1%) says it will sell its three Maryland coal-fired power plants to Raven Power for $400M. The sale is expected to close in Q4, and will generate about $205M in tax benefits, with the majority to be realized in 2012 and 2013. EXC will record a pre-tax loss of about $275M in Q3 to reflect the difference between the estimated sale price and the carrying value of the plants. [View news story]
    America has bountiful coal (and gas and oil) resources. It is unfortunate the current administration will not exploit carbon fueled energy in any form. Appears to me EXC is selling at a loss--hence the tax benefits.
    Aug 9, 2012. 06:29 PM | Likes Like |Link to Comment
  • Why Money Managers May Liquidate The iShares Barclays 20+ Year Treasury Bond Fund [View article]
    Gold is being slightly sold off by the strength of the dollar against the Euro, due to the PIIGS debt problems. In my mind, both currencies are in a death spiral. Silver will not do well in a recession environment. I am staying long IAU and MUX around about 5% of my portfolio.
    Jul 18, 2012. 10:05 PM | Likes Like |Link to Comment
  • Exelon: Get In At $34.90 Or Double Your Yield In 7 Months [View article]
    I am long EXC and although disappointed with stock price performance over past year, I believe the downside is limited from here. Now is the time to buy, not sell. If you do not already own the stock I would avoid.
    Jul 11, 2012. 10:16 PM | Likes Like |Link to Comment
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