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depraved_miscreant

depraved_miscreant
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  • Earn An 8% Yield From An Asset Class That's Probably Missing From Your Portfolio [View article]
    Been watching PSP but, FWIW, the technicals are ugly: MACD is negative and a 'death cross' is evident in both a daily 1-year chart and a weekly 4-year chart (I use EMAs).

    I'll continue to wait for signs of a bottom....
    Oct 7, 2014. 09:39 AM | 1 Like Like |Link to Comment
  • Seeking Global Value From ETFs In The Land Down Under [View article]
    Here are the current (8/31/14) country allocations from the IAE website:
    Australia 24.90%
    China 23.82%
    South Korea 14.39%
    Hong Kong 10.95%
    Taiwan 10.07%

    IAE does not use leverage and current distribution ~ 9.93% with no ROC in the last year. 31.9% of portfolio is in the financial sector.

    Long IAE and looking to add on weakness.
    Sep 25, 2014. 09:38 AM | Likes Like |Link to Comment
  • Equity CEFs: Funds With Strong NAVs And Weak Market Prices [View article]
    I have been looking at lightening up on some of my leveraged CEFs. RQI hasn't exactly been a dazzling performer for me so the unleveraged (and higher yielding) RFI looks like a good candidate to replace it. The problem with both RQI and RFI is that NAV could be rolling over.

    Thanks for the idea -- worth watching.
    Sep 22, 2014. 12:00 PM | Likes Like |Link to Comment
  • You Might Be A High Yield Sucker If... [View article]
    I have no position in PSEC, but insiders are buying. FWIW, two individuals recently purchased > $1M worth of shares and I seem to recall seeing heavy insider buying over the last few weeks. If you're long PSEC, this recent buying should limit the downside, if nothing else.
    Sep 22, 2014. 09:23 AM | 1 Like Like |Link to Comment
  • Equity CEFs: Take A Chance On GGZ, Mario Gabelli Did [View instapost]
    I took a look at GDL just yesterday. NAV has been in a steady decline since inception (2007). I'm watching -- big discount and decent yield -- but highly leveraged with no hint of finding a bottom.
    Sep 17, 2014. 06:20 PM | Likes Like |Link to Comment
  • Building An Income Portfolio With Closed-End Funds. Part 1: Real Estate [View article]
    Only semi-serious with that last comment. In actuality, 2013 was not a good year for the sector, which began taking off again early this year. However, Wall Street does have a knack for creating investment opportunities near tops. But the discounts for neither AWP nor RQI have narrowed much in over a year.

    But last week I closed a my position in FGB, a BDC CEF, which I have held for several years. Jack Hough wrote a favorable article about FGB in Barrons a few weeks back and the fund spiked to a premium despite NAV moving slightly down to sideways recently. The next distro is not until Nov.30 and I like BDCs, even in a rising interest rate environment, so I'm looking to get back in if/when the price/discount is favorable, hopefully before the next ex-div date. Dividend capture is not my game, but it could work here.

    Apologies if this last was slightly off topic.
    Sep 8, 2014. 02:51 PM | 1 Like Like |Link to Comment
  • Building An Income Portfolio With Closed-End Funds. Part 1: Real Estate [View article]
    Hmmm. Just received an email from Schwab announcing the introduction of the Schwab Fundamental Global Real Estate Index Fund (SFREX).

    Just a coincidence or is the sector near a top ???
    Sep 8, 2014. 02:14 PM | 1 Like Like |Link to Comment
  • Building An Income Portfolio With Closed-End Funds. Part 1: Real Estate [View article]
    "If I were choosing among the funds today, I'd go for one global and one domestic fund."

    I'm with you, LB. I bought both AWP and RQI at the beginning of 2014. In retrospect, pretty good timing, although I keep watching IGR and its superior NAV performance over AWP. Since both use relatively low leverage, I guess the difference is due to a combination of a greater exposure to US REITs in IGR or just plain better REIT selection by its PM.
    Sep 8, 2014. 09:03 AM | Likes Like |Link to Comment
  • Equity CEFs: Don't Judge A CEF By Its Yield [View article]
    In 2012 and 2013, GRX also made very healthy LT(?) year-end Capital Gains distributions and has upped the quarterly dist ~20% in 2014.

    With NAV steadily increasing, calling GRX a growth fund is an excellent description. I bought it in back in 2012 influenced, no doubt, by one of Mr. Albo's convincing articles. And I did participate (partially) in the recent rights offering.

    Much obliged, Douglas.
    Sep 2, 2014. 02:30 PM | 2 Likes Like |Link to Comment
  • This Fund May Be Your Best Call For Preferred Shares [View article]
    Do these links work ? 2-year and 5-year charts of XFFCX:

    http://yhoo.it/1n8ZXvh;range=2y

    http://yhoo.it/1n8ZXvh;range=5y

    Looks like they both display the 1-year chart, but click on another time and it will display.
    Aug 30, 2014. 10:04 AM | Likes Like |Link to Comment
  • Atlas Resource Partners: A 12% Yield With Limited Growth [View article]
    Yep, Cooperman has increased his positions in ARP, APL and ATLS.
    Aug 30, 2014. 09:40 AM | 1 Like Like |Link to Comment
  • This Dividend Dog ETF Has A Lot Of Promise [View article]
    David or anyone, how often is the SDOG portfolio updated/rebalanced ?
    Aug 29, 2014. 08:50 AM | Likes Like |Link to Comment
  • Questions For U.S. Stock ETF Bulls [View article]
    "Analysts at SG Securities estimate that corporations spent 20% last quarter on share buybacks."

    Gary, would you clarify ? 20% of what ? A 20% increase from a year ago ? The previous quarter ?

    However you measure it, seems to me that buybacks at market highs is not the best use of capital. I have been lightening up and increasing cash.
    Aug 23, 2014. 09:55 AM | Likes Like |Link to Comment
  • USA And ASG: Are They Really All-Stars? [View article]
    Re USA, you're in good company. USA represents the 2nd largest holding in Phil Goldstein's Special Opportunities Fund (NYSE:SPE). FWIW, what follows is Goldstein's comment re USA in the SPE 2013 Annual Report. If he's right about another self-tender offer, you might be looking at some upside.

    Liberty All-Star Equity Fund (NYSE:http://bit.ly/yvMlHo)
    "We purchased almost all of our shares of this diversified multi-manager equity
    fund at a double-digit discount to net asset value. After we commenced a proxy contest, USA conducted a self-tender offer that expired on September 23, 2013. As a result, we were able to sell 22% of our shares at a 4% discount to NAV. USA’s discount is currently about 12%. At this time, we are comfortable holding the balance of our shares because we think management may take additional actions to address the discount if it remains above 10%. We do not anticipate providing any more updates about USA."

    I have no position in USA or SPE, but the latter is on my watch list.
    Aug 19, 2014. 12:10 PM | Likes Like |Link to Comment
  • DNP Select Income - Steady Income With Possible Premium Expansion Kicker [View article]
    I agree with zgb952 re item #1, but not necessarily #2. Might ROC be due to the fact that some of the energy holdings are MLPs ? I confess that I haven't dug into the holdings to find out. In any event, NAV has been increasing so the ROC might not be that much of a negative.

    If I were a buyer now, I think I'd prefer the pure equity DPG (see Albo's article here):
    http://seekingalpha.co...

    I've been long UTF since the NAV golden cross in July 2012. YOC >8.5% and the strong uptrend is still intact, but I haven't added more since.
    Aug 18, 2014. 03:24 PM | 2 Likes Like |Link to Comment
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