Seeking Alpha

losbronces

losbronces
Send Message
View as an RSS Feed
View losbronces' Comments BY TICKER:
Latest  |  Highest rated
  • Bloomberg: Oilfield writedowns loom as crude slump guts drilling values [View news story]
    At $50/bbl, I believe there are a lot of current reserves that will go away for companies that need to report based on the SEC rules. It will take some time to actually see those writedowns though.
    Jan 6, 2015. 09:59 AM | Likes Like |Link to Comment
  • SEC Action Forces RAIT Financial Book Value To Plummet [View article]
    Sounds like a good idea. Bought $7 July puts @ 0.65. Should shake out by then.
    Jan 6, 2015. 09:52 AM | 1 Like Like |Link to Comment
  • Bloomberg: Oilfield writedowns loom as crude slump guts drilling values [View news story]
    This is straight from the SEC regulations on reporting oil & gas reserves (link to rule here: http://1.usa.gov/QmEvWg):

    The definition states that the economic producibility of a reservoir must be based on existing economic conditions. It specifies that, in calculating economic producibility, a company must use a 12-month average price, calculated as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month period prior to the end of the reporting period, unless prices are defined by contractual arrangements, excluding escalations based upon future conditions.

    So the writedowns will come, but perhaps not as quickly as some would like to think. I don't think you will see $50/bbl oil reflected in SEC compliant reserve reports yet.
    Jan 6, 2015. 09:08 AM | 4 Likes Like |Link to Comment
  • We want Greece! - German econ min [View news story]
    The timely payments will stop shortly imo.
    Jan 4, 2015. 07:41 PM | 1 Like Like |Link to Comment
  • Total Returns For BDCs In 2014 [View article]
    That is not a charge, it is an additional margin maintenance requirement. What it means is that if you are buying BDCL on margin, you can only use 75% of the marginable value of your account. So if you have $100K, you could only buy $175K of BDCL. This is basically to avoid having frequent margin calls (forcing you to sell a portion of your stock to get back into compliance with margin requirements) just due to the volatility experienced by the stocks on the "Subject to a Higher Maintenance Requirement" list.

    If you look at the list (click on "Stocks Subject to a Higher Maintenance Requirement" on the home page), you will see that some stocks, such as MNKD, have a 100% requirement, which essential means you can't use margin at all to buy that one.
    Jan 4, 2015. 10:37 AM | Likes Like |Link to Comment
  • Is Linn Energy's Distribution Cut The Result Of Bad Deals In 2014? [View article]
    LNCO (which is a C-corp) was created specifically to do the Berry Petroleum deal. But that was in 2013.
    Jan 4, 2015. 09:23 AM | 1 Like Like |Link to Comment
  • CEFL January Dividend Gives Yield Of 23% [View article]
    UBS doesn't choose the holdings. They use the ISE High Income Index, the ticker symbol for the index is ISEHIP. Here is a link to the ISE page: http://bit.ly/1A6GIdP
    Jan 2, 2015. 12:16 PM | Likes Like |Link to Comment
  • Why Dogs Of The Dow Doesn't Work Anymore [View article]
    I agree with the premise of your article that the DOTD strategy doesn't work, I will accept that you are not recommending the equal weight Dow Industrials vs. the DJIA. Any strategy that works can now be anticipated by computer algorithms, and thus be defeated.

    And I still don't believe that the DJIA should be taken seriously now. It is an average of the prices of the 30 DJIA stocks (10% of which were switched in 2014), and GOOG and AAPL were excluded due to high stock price. How can anyone take an index seriously when Chevron is weighted more than Exxon and IBM represented more than 11% of the index at one point in 2014? It is an anachronism of the days prior to computers and imo only exists due to it being heavily promoted. The S&P 500 is much more representative of the US market.
    Dec 30, 2014. 10:49 PM | Likes Like |Link to Comment
  • Why Dogs Of The Dow Doesn't Work Anymore [View article]
    To be consistent with your theme, I don't think you want to make recommendations like this: "The above results actually suggest buying an equal amount of the Dow 30 stocks over index weighted version of the DJIA." based on three-years of data.
    Dec 30, 2014. 10:51 AM | 1 Like Like |Link to Comment
  • Intel: Why One Of Seeking Alpha's Biggest Bulls Sold His Shares [View article]
    I agree with you. Although thats more of a risk with thinly traded stocks; we've all seen inexplicable "flash crashes" even in stocks with high ADVs.
    Dec 23, 2014. 09:46 AM | Likes Like |Link to Comment
  • The Best Commodity Trade For 2015 - Oil Cash And Carry: Minimal Risk, Huge Potential [View article]
    EIA reports show petroleum storage in the US: http://1.usa.gov/18GCXQA.

    If you are looking at what is in tankers, then you cannot tell what that is.
    Dec 22, 2014. 10:17 PM | Likes Like |Link to Comment
  • The Best Commodity Trade For 2015 - Oil Cash And Carry: Minimal Risk, Huge Potential [View article]
    SEA includes more bulk shippers than tankers.
    Dec 22, 2014. 12:11 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: China Offers Support For Russia's Currency Crisis [View article]
    Venezuela too (article is old, but appropriate): http://buswk.co/1zoBoV9; for now anyway. Seems there may be a limit to their largesse.
    Dec 22, 2014. 09:07 AM | Likes Like |Link to Comment
  • Wall Street Breakfast: China Offers Support For Russia's Currency Crisis [View article]
    Does not look like oil is going to do a V-shaped recovery. Iraqi oil minister states that OPEC is united (right) and WTIC is now down 0.6%.
    Dec 22, 2014. 07:44 AM | 1 Like Like |Link to Comment
  • Linn Energy: Something's Got To Give [View article]
    There seemed to be some confusion about LINE being an MLP. It is not; and there is not a requirement to make payments to a GP.

    And this was a response to your comment:

    "Most MLPs have some requirements in their partnership agreement to distribute a certain part of their cash flow to the partners, but there is no regulatory requirement to do so."
    Dec 19, 2014. 10:10 PM | Likes Like |Link to Comment
COMMENTS STATS
790 Comments
1,276 Likes