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depraved_miscreant

depraved_miscreant
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  • 12 High-Yield Managed Distribution Policy Funds [View article]
    The following is a quote from a comment by SA contributor, Douglas Albo (October 8, 2013). He mentions different Cornerstone CEFs, but the song remains the same:

    "The Cornerstone funds are the ultimate "greater fool" theory in practice. Even CFP's rights offering this summer was priced well above its NAV though current holders thought they were still getting a great deal!

    Like any security, if you time it well, yes...you can make money but one of these days, these funds will collapse to their NAVs or lower and you won't feel so flush. BTW, CFP owns nothing but other CEFs too. "
    Dec 17 09:00 AM | Likes Like |Link to Comment
  • CEF Strategies: The Sad State Of Municipal Bond CEFs [View article]
    I'd prefer to avoid Illinois, thank you. I noticed in Barron's a week or so back that an insider in AFB (listed in your chart) purchased $750K worth of the fund. AFB's exposure to the Land of Lincoln is <6%.

    BTW, I'm no fan of Steven Sears. IMO, his column is only worth reading when Larry McMillan subs. His column 'Boycott Closed-End Options Funds' was a journalistic travesty. I saw your online comment and I agree that his example of a hybrid muni which writes options against the S&P, while suiting his purpose, was poor and deceptive biz writing. The worst part was the implication that all covered call CEFs fit the mold.

    I also composed an email to Sears -- much less polite than yours. I never hit the 'Send' button, but writing it made me feel better. BTW, with very few exceptions, Barron's is in decline -- I especially miss Abelson.
    Dec 16 08:40 PM | 6 Likes Like |Link to Comment
  • A Shopping List Of Doorbusting CEF Discounts [View article]
    All should know that KMF is a RIC, not a C-Corp.

    So what ? Different tax treatment and it can hold no more than 25% of portfolio in MLPs..
    Dec 14 09:43 AM | 1 Like Like |Link to Comment
  • A Shopping List Of Doorbusting CEF Discounts [View article]
    I looked right at that page, but I clicked on the ticker, rather than the fact sheet or the report. Duh.

    Went to the eye doctor this a.m. New lenses. I sure hope that explains it, otherwise Mrs.depraved_miscreant will be taking away my investing privileges...
    Dec 13 03:48 PM | 2 Likes Like |Link to Comment
  • Why Holding Cash May Not Be A Bad Idea In Today's Market [View article]
    I'm sitting on some cash waiting for the shares of companies in commodities, materials and other falling knives to show signs of bottoming, then turning up. The best value is deep value.
    Dec 13 03:27 PM | 1 Like Like |Link to Comment
  • A Shopping List Of Doorbusting CEF Discounts [View article]
    Adam, since you would buy NML now, you must know what's in the portfolio. CEF Connect has no details,CEFA's data is over 6 months old. and the sponsor's website doesn't appear to be much help (at least I couldn't find the particulars).

    Do you have a link ? Gratias....
    Dec 13 03:20 PM | Likes Like |Link to Comment
  • A Shopping List Of Doorbusting CEF Discounts [View article]
    A few interesting issues in MNH's list. While the market price has dropped, the NAVs of ISD and PHD have gone sideways and the NAVs of NHS and VTA have actually risen slightly. Some of the others are recent IPOs.

    Long PHD.
    Dec 13 03:09 PM | 1 Like Like |Link to Comment
  • REITs: The Best Of Times, The Worst Of Times [View article]
    NRF - up bookoo after hours. Spinning off asset management biz.
    Dec 10 06:50 PM | Likes Like |Link to Comment
  • The Triple Net REITs: A Bold New World Of Durable Income [View article]
    I'm aware of that, Adam. I've been in RQI for some time now. The reasons I'm looking at IGR to replace at least part of my RQI position are its more global flavor and the fact that it is unleveraged. I'm reducing/eliminating most of my positions in leveraged CEFs.

    Thanks for the heads-up, though. It's good advice re rising rates.
    Dec 9 01:01 PM | Likes Like |Link to Comment
  • The Triple Net REITs: A Bold New World Of Durable Income [View article]
    Thanks, AA & IF. And AA, I enjoy your articles. Good luck to us all....

    Also long RQI, a 100% US CEF. Portfolio contains several of Brad's longs..
    Dec 9 10:27 AM | Likes Like |Link to Comment
  • The Triple Net REITs: A Bold New World Of Durable Income [View article]
    I doubled up on CSG late last week -- in under $8/shr -- and NRF (not one of Brad's longs) is up to almost twice my buy price.

    Any thoughts on International REITs ? Individual issues are tough to nail, so I've been looking at IGR, a CEF @50% non-US, and RWX, an ETF 100% positioned outside the US. Others ? I'm not a fan of Alpine.
    Dec 9 09:03 AM | Likes Like |Link to Comment
  • Assessing Covered Call Closed-End Funds To Enhance Retirement Income [View article]
    ETJ has an interesting catalyst -- Phillip Goldstein.

    http://seekingalpha.co...

    ETJ might be rolling over as it sits just pennies above its 40wk EMA, but it is worth watching. I don't know if Goldstein has reduced, maintained, or increased his holding since the above interview..

    Long ETY, which I was lucky enough to catch near its low..
    Dec 4 10:49 AM | Likes Like |Link to Comment
  • Investing In The Swings Of The BDC Market [View article]
    FGB is my vehicle for the BDC sector. Currently available at a slight (@1.55%) discount to NAV. @18% levered, 8.24% distribution yield. The fund has been around since mid-2007 and distributions have been on rhe rise since 2009. 42 holdings, which include many of BDC Buzz's picks.
    Nov 6 09:35 AM | 1 Like Like |Link to Comment
  • I'm Not Investing In GOV Since The Thrill Of Victory Isn't Worth The Agony Of Defeat [View article]
    I remember watching a show where President Reagan was at a reception on a ship in England talking to Ms. Thatcher. He told her that a US Govt. department head's primary goal was to expand his department. Having more people under him meant getting a higher pay grade.

    If things have changed, it hasn'ts been for the better....
    Nov 4 09:31 AM | 2 Likes Like |Link to Comment
  • Equity CEFs: A Legg Mason Fund At A Double Digit Discount Outperforming The S&P 500 [View article]
    I took a hard look at SCD, but bought BGY instead. BGY's latest distribution consists of @ 42% ROC, but that's OK given its option strategy. Also, BGY does not use leverage. At this point in the bull, that's exactly what I'm looking for: options strategy, no leverage. Also very different portfolio from SCD, but I already own REITs and MLPS, in both funds and individual issues. I was also looking for a primarily global fund; BGY has < 5% US stocks.
    Oct 16 03:48 PM | Likes Like |Link to Comment
COMMENTS STATS
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