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Brad Denny

Brad Denny
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  • Annaly Capital: It Just Might Be Time To Load Up On Shares [View article]
    Thank you, R.S. I have commented on SA articles previously, but never had a comment in response. Thank you and also for writing the article which caused my thoughts to come together in a focused way.
    Sep 2, 2013. 08:45 AM | Likes Like |Link to Comment
  • Annaly Capital: It Just Might Be Time To Load Up On Shares [View article]
    Of course I meant a reduction of $5-10 BILLION per month. Sorry for the omission. Life is full of little errors and omissions like that.
    Aug 25, 2013. 07:09 AM | 2 Likes Like |Link to Comment
  • Annaly Capital: It Just Might Be Time To Load Up On Shares [View article]
    Since the Fed's actions in September are "data dependent" and we don't know exactly what the data will look like to the Fed in Sept., it is apparent that even the experts are "guessing." Following is a "guess" which reflects logic and what appear to be current trends in the data.

    1. Ample demand for the safety of U.S. Treasuries from at home and around the world plus the ongoing decline in Federal deficit projections will allow the Fed to announce that it is going to begin "tapering" its purchase of U.S. Treasuries. My "guess" is that reduction will be in the range of $5-$10 per month.

    2. Because there is no comparable investor pool for mortgage-backed securities from either domestic or foreign investors still hurting from the 2007-2009 collapse in the MBS and derivatives markets, the Fed will maintain its purchases of mortgages in order to sustain the housing recovery which is crucial to the still fragile U.S. recovery.

    This is a view suggested by both logic and current reality, even though I can't supply reams of data or charts to support it. The combination of these actions will be supportive of the ongoing recovery.

    But it is just a guess.

    Brad Denny
    Aug 25, 2013. 07:07 AM | 10 Likes Like |Link to Comment
  • Weighing The Week Ahead: Will Earnings Reports Deliver? [View article]
    I believe the death of low interest rates in the U.S. is "greatly exaggerated." We have relatively low inflation, excess goods, excess labor and relatively low energy costs as a result of shale gas.

    Higher interest rates will quickly damage the housing recovery and also do harm to exports as the dollar appreciates vs. currencies keeping interest rates low. Can the recovery stand a slowing housing market, reduced exports and a fragile employment picture?

    I have yet to see a convincing rationale for a bet on significantly higher interest rates.
    Jul 7, 2013. 09:02 PM | Likes Like |Link to Comment
  • Why Exelon's Rally May Have More Legs [View article]
    What is meant by "healthy normalized dividend yield of 3.8%?" My sources indicate that Exelon is yielding over 6%, which is down from nearly 7% when the rally from $29 started.
    Apr 1, 2013. 11:09 AM | 1 Like Like |Link to Comment
  • CEF Weekly Review: Cohen & Steers Infrastructure [View article]
    Since UTF went X-dividend on March 18, it is not surprising that the stock price would decline.
    Mar 24, 2013. 06:29 AM | Likes Like |Link to Comment
  • AT&T Vs. Verizon, Which Is The Better Value? [View article]
    I believe that Vodaphone actually owns 45% of the Verizon Wireless Division, not 45% of Verizon as a whole. The author may have intended to say this, but that is not apparent from the way the article reads.
    Feb 27, 2013. 03:41 PM | 4 Likes Like |Link to Comment
  • Tens of thousands of demonstrators protested against TransCanada's (TRP) proposed Keystone pipeline in Washington yesterday, highlighting the dilemma President Obama faces: authorizing the pipeline could create jobs, boost his standing with unions, strengthen ties with Canada and reduce the U.S.'s dependence on Middle East oil; however, it would also alienate a key environmental base that helped get him elected.
     [View news story]
    I am a liberal, a Democrat, an environmentalist and very concerned about global warming. If that oil doesn't come to the U.S. to be refined, it will go to China. We are in a better position here to transport it and refine it while minimizing environmental effects than China is. Obama is a very smart person and eventually Keystone will (and should be) approved.
    Feb 18, 2013. 11:46 AM | 3 Likes Like |Link to Comment
  • New Projects For TransCanada On The West Coast [View article]
    In your opinion, how do the planned TRP projects stack up against other pipelines to the Pacific through British Columbia stack up against projects planned by Enbridge and Kinder Morgan?
    Feb 12, 2013. 07:05 AM | Likes Like |Link to Comment
  • Will Verizon Acquire Vodafone? [View article]
    The headline seems inappropriate, since thrust of the story is not that Verizon might acquire Vodaphone (although that is mentioned as a remote possibility) but that Verizon might acquire Vodaphone's share of Verizon Wireless. Headlines that are not truly representative of the content of the story do a disservice to both the author and the readers.
    Jan 9, 2013. 05:49 AM | 5 Likes Like |Link to Comment
  • Will Central Banks Cancel Government Debt? [View article]
    I question the theory that there is no damaged third party. If debt terms are altered in such a way that it makes in easier to maintain public and private economic activity that is fundamentally unsound, while postponing payment so that future generations bear the burden, then clearly the damaged third party is future generations.
    Oct 16, 2012. 08:17 AM | 1 Like Like |Link to Comment
  • A Look At Significant Events In Frontier's Q3 [View article]
    Very useful and timely information.
    Oct 1, 2012. 07:47 AM | Likes Like |Link to Comment
  • Weighing The Week Ahead: Time For A Rebound In Confidence? [View article]
    Are the difficulties of being a politician on the national scene a sufficient explanation for the willingness of elected officials to abandon their allegiance to the nation they are supposed to serve and pledge that allegiance instead to Grover Norquist?
    Sep 25, 2012. 11:12 AM | 3 Likes Like |Link to Comment
  • Equity CEFs: The First Cut Is The Deepest [View article]
    I am a long term holder of Wells Fargo funds ERH, EOD and EAD. While the market price of these funds has fluctuated over the years, the dividends have been constant and I am certainly in the black including dividends. The market yield on EOD is shown in red on your chart. Is this just because it is an outlier, or do you see particular danger there?
    Sep 18, 2012. 08:42 AM | Likes Like |Link to Comment
  • How Safe Is Kinder Morgan's Dividend? [View article]
    The first table appears to suggest that the general partners' "interest in income" is more than 14 times that of the limited partners, while the limited partners "net income per unit" dropped from $1.40 in 2010 to .25 cents in 2011.

    MLP accounting is complex, but these numbers do not suggest good things about KMP's distribution future or its relationship to its general partner. These numbers do not seem consistent with the positive conclusion reached in the article about KMP's distributions in the future.

    What is the reality of KMP's relationship to its general partner and the future of its distribution? Please comment.
    Sep 9, 2012. 05:38 AM | 3 Likes Like |Link to Comment