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depraved_miscreant

depraved_miscreant
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  • Assessing REIT Funds For Your Retirement Portfolio [View article]
    LB, that's the Ron Baron fund. I kept the Barron's article about it from May of 2013 but, unlike you, I wasn't smart enough to buy it. Article says manager Kolitch "is more interested in growth than income". The price (temporarily) peaked about a week after the article printed and it's up maybe a point and a half since, so I don't feel terribly bad, but the 2-year chart looks great. Still watching.
    Jan 7, 2014. 01:49 PM | Likes Like |Link to Comment
  • Assessing REIT Funds For Your Retirement Portfolio [View article]
    Doc, I own RQI and two individual REIT issues. I have been looking for a global REIT CEF or ETF and I dismissed AWP because Alpine uses a dividend capture strategy (or so I thought -- I'm not a fan) in several of its CEFs. I am/was under the impression that AWP fell into that category, but a quick scan of the fund's web site and annual report shows no mention of such a strategy for AWP.

    Since you own AWP, you must know what gives.
    Jan 7, 2014. 12:01 PM | Likes Like |Link to Comment
  • 3 High-Yield Income Investments On Sale Now [View article]
    Pie, lots of truth in your post. For most, if not all, of the last five years, covered call funds were definitely not the place to be -- better to have gone with leverage -- and lots of it. However, the bull has gotten a bit long in the tooth and the big gains might be behind us. Whither the market ? I don't know. For a new position, though, covered call funds have a bit of appeal.
    Dec 31, 2013. 02:34 PM | 1 Like Like |Link to Comment
  • 3 High-Yield Income Investments On Sale Now [View article]
    Nibbled at some BCF (Real Assets) recently because NAV is turning up. Also watching both BCX and BGR. The latter has sold off because of the recent special dividend, but the selloff is probably overdone, although NAV has also fallen significantly.

    Long UTF for some time now. Very Interesting portfolio -- I especially like the global exposure.
    Dec 31, 2013. 01:15 PM | 1 Like Like |Link to Comment
  • Equity CEFs: Which Funds To Buy And Sell Right Now - Part IV [View article]
    I could not agree more. Besides providing us with fish, Douglas also shows us how to fish. And just as importantly, we learn what to throw back.

    No doubt -- he's at or near the top of the short list of SA's finest authors.
    Dec 18, 2013. 04:47 PM | 5 Likes Like |Link to Comment
  • Equity CEFs: Which Funds To Buy And Sell Right Now - Part IV [View article]
    Douglas, thanks for the info on the GRX distribution raise. I am long GRX since mid-2012 and I was aware of the year-end special, but not the 20% increase for 2014. Made my day. I believe the distributions hit accounts tomorrow.

    I have a spreadsheet which searches CEF Connect for "Distribution Amount" and "Distribution Frequency" for a fund. Besides having the incorrect distribution rate, the distribution amount for GRX (and a few others) always comes back blank.

    I guess the Fed announced it will not taper until 2014. Market exploded and GRX joined the party, now up above $10/shr.
    Dec 18, 2013. 02:46 PM | Likes Like |Link to Comment
  • 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 01:01 PM | Likes Like |Link to Comment
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