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depraved_miscreant

depraved_miscreant
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  • The Utility And Infrastructure CEF Report: 6%+ Yields And Deep Value [View article]
    According to the fund website, 9% of the portfolio is in Pipeline MLPs, including Enbridge, Markwest, Transcanada and Enterprise.
    Mar 5, 2014. 07:56 PM | Likes Like |Link to Comment
  • The Utility And Infrastructure CEF Report: 6%+ Yields And Deep Value [View article]
    Morgan, re UTF, management's AUM conflict aside, another reason for failure to execute the buybacks might be due to another conflict: a high discount (near a 52-week high -- or is it low ?) versus a rising NAV. Might they be waiting for a correction ? Just supposing.

    I own a PPL convertible preferred with a mandatory conversion in May, but I think I'd rather be in a fund than in just the PPL common. Thanks for a great review on these utility CEF alternatives which I'm going to bookmark.

    Long UTF.
    Mar 5, 2014. 11:45 AM | Likes Like |Link to Comment
  • Should Real Estate Investors Trust REITs? [View article]
    Back in the 80s, there were lots of condos selling at deep discounts and we thought about becoming landlords. I mentioned it to a co-worker who told me how his tenants defaulted on several months rent, removed every inch of copper pipe in the place and then skipped town.

    Never wanted to be a landlord after that.
    Feb 8, 2014. 11:38 AM | 2 Likes Like |Link to Comment
  • Equity CEFs: Utility CEFs Are Back [View article]
    I don't think there are any pure water CEFs, but BQR has some holdings in water utilities. Here's a link to a recent article by another SA author:

    http://seekingalpha.co...
    Feb 4, 2014. 02:45 PM | Likes Like |Link to Comment
  • Equity CEFs: Utility CEFs Are Back [View article]
    I don't rely much on technicals, but I do like the Golden Cross as a buy signal, i.e., when a 10-week MA crosses above the 50-week MA. Such is the case for EOD's NAV recently, but not its market price, which is lagging. So I bought some. If I have learned anything from Doug's articles on CEFs, it is to watch NAV.

    Also long ETY, GRX and UTF.
    Feb 4, 2014. 02:36 PM | 2 Likes Like |Link to Comment
  • Danger Zone: Ashland [View article]
    Thanks, David.
    Jan 31, 2014. 11:58 AM | Likes Like |Link to Comment
  • Danger Zone: Ashland [View article]
    No position in ASH and a couple of my DCF spreadsheets kick out a value less than 1/3 the current market price, so a short idea looks pretty good. Yet FY2013 FCF is the highest in several years and the 2nd best in the past decade.

    Explanation ? Not arguing, just trying to learn from someone who has obviously dipped deeply into the financial statements.
    Jan 30, 2014. 12:24 PM | Likes Like |Link to Comment
  • ETFs Let You Invest With Your Head, Rather Than Your Heart [View article]
    MUA is a CEF. Do you also venture there ?
    Jan 24, 2014. 02:31 PM | Likes Like |Link to Comment
  • PIMCO's Strategic Global Government Common Fund Is Now A Buy [View article]
    On a technical note, both NAV and price are in downtrends since October 2012. Falling knives are messy. Waiting a few months appears wise.
    Jan 21, 2014. 01:59 PM | 1 Like Like |Link to Comment
  • Lessons From 2013: Part I [View article]
    Oh, I agree. It doesn't make sense, but I remain agnostic. I find the writing of the author to whom I provided a link interesting, but I never forget Andrew Lo's words. Data mining is a popular pasttime.

    Funny that you mention 1987. That was a year when I actually did sell in May, but not because of any Wall Street adages. Rather, as early as May, I thought things were getting somewhat frothy. I missed a lot of the fun and all of the pain. I happened to be working for The Very Large Brokerage Firm at the time, and on Black Monday I was surrounded by some very unhappy people watching the Quotrons. I only wish I had bought some puts.
    Jan 16, 2014. 05:44 PM | Likes Like |Link to Comment
  • Lessons From 2013: Part I [View article]
    SA author Fred Piard presents evidence that "Sell in May and then go away" has validity:

    http://seekingalpha.co...

    To paraphrase Andrew Lo, "torture a data set long enough and it will confess to anything".

    So who's right ?
    Jan 16, 2014. 10:22 AM | Likes Like |Link to Comment
  • BlackRock International Growth & Income Trust Offers An 8% Distribution At A 12% Discount [View article]
    Thinking pretty much along the same lines as the author, I bought BGY back in late June. NAV has hit a multi-year high at a level last seen in August, 2011, up ~23% since a May, 2012 low.

    Steady as she goes.....
    Jan 15, 2014. 06:34 PM | Likes Like |Link to Comment
  • Assessing REIT Funds For Your Retirement Portfolio [View article]
    Adam, any input re my query about AWP (or other Alpine CEFs) using dividend capture ? Global Trekker once panned the Alpine funds for that very reason.

    FWIW, while I'm not a big fan of technical analysis (as the saying goes, it works great except when it doesn't), I do like to see the 10-week MA cross above the 40-week MA. The NAV of AWP is very close to such a cross; the market price should follow.
    Jan 8, 2014. 10:56 AM | Likes Like |Link to Comment
  • 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
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