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depraved_miscreant

depraved_miscreant
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  • CEF Strategies: Equity CEFs Back On Sale [View article]
    Also:
    http://www.cefa.com
    http://bit.ly/121ZMaU

    First, read all of Douglas Albo's articles and also those of John Cole Scott. The latter has not been active on SA lately, but many of his articles provide insight into the workings of CEFs. Others who write about CEFs are Reuben Gregg Brewer, Value and Income Insights, Steven Bavaria, John Dowdee, and Left Banker.

    But when it comes to equity CEFs, Mr. Albo is da man.
    Aug 25, 2015. 12:42 PM | 5 Likes Like |Link to Comment
  • Tax Free Income From Municipal Bond Closed End Funds [View article]
    " the advantage for CEFs on not having to liquidate holdings"

    Slightly off topic: Particularly true with Loan CEFs. Loans can be very illiquid.

    Great article. I appreciate the work involved in putting all this info together.
    Aug 21, 2015. 10:52 AM | Likes Like |Link to Comment
  • It's A Risk Adverse World Out There [View article]
    I'm no William Safire or Edwin Newman, but:

    http://bit.ly/1PDpax1

    BTW, for a great read on the use of languge, try "Authority and American Usage" by David Foster Wallace. It's from "Consider The Lobster and Other Essays", but it might also be available on the web.

    The use of "access" as a verb" ??? Nah.
    Aug 21, 2015. 10:08 AM | 3 Likes Like |Link to Comment
  • Take When The Market Gives - Income Opportunities, Part 5: REITs [View article]
    Ditto
    Jul 28, 2015. 11:31 AM | Likes Like |Link to Comment
  • Unloved In The Marketplace, Savvy Senior 'Income Growth' Portfolio Increases Cash Flow Payout [View article]
    "now that companies can move jobs - actually and virtually - all over the world. This will continue to keep wage inflation down in the United States for years to come."

    Technological advances will also keep wage inflation down. I have read of several examples where a handful of workers now do what once required hundreds, if not more.

    As for Babson Capital (MPV), keep in mind that its great performance over almost 3 decades was accomplished with a strong tail wind of declining interest rates. We shall see if management can adjust to a new rate environment.

    I've been watching UTG closely lately, but I still haven't pulled the trigger. Soon ?

    Thanks for another terrific article, Steve.
    Jul 28, 2015. 11:02 AM | Likes Like |Link to Comment
  • Why My Content Won't Go Premium  [View instapost]
    "Ditto to all the above."

    Likewise....
    Jun 22, 2015. 12:52 PM | Likes Like |Link to Comment
  • CEF Strategies: Municipal Bond CEFs Back On Sale [View article]
    NPI has a nice portfolio of investment grade bonds, many of them revenue issues, but a little T/A causes me to side with James.

    Using 10wk and 40 wk EMAs, as well as 50 day and 200 day EMAs, charts of NPI's NAV show the dreaded Death Cross in both instances, as do charts of its share price. CEF investors being who they are, I agree that more of a shakeout is looming.
    Jun 8, 2015. 02:19 PM | 1 Like Like |Link to Comment
  • Neuberger Berman Real Estate Securities Income Fund: The REIT Fund To Get A 7% Yield Paid Out Monthly [View article]
    Thanks for the link. I didn't know the rule applied to REITs either.

    Can anyone point me to the IRS publication where this is spelled out ?
    Jun 5, 2015. 12:17 PM | Likes Like |Link to Comment
  • Equity CEFs: Follow The 800-Pound Gorilla [View article]
    Sitting on a nice profit in ETY, no doubt purchased because of a previous recommendation by the author. Also long BGY and EMO, a Clearbrige MLP CEF similar to CEM, as well as ETW. Encouraging article.
    Jun 1, 2015. 11:13 AM | 1 Like Like |Link to Comment
  • Cohen & Steers Quality Income Realty Shares: Starting The Year Off On The Right Dividend Foot [View article]
    Switched 1/2 of my long-term RQI position to the unlevered RFI. Also long AWP, a global fund with very low (2.2%) leverage.
    May 28, 2015. 10:15 AM | 2 Likes Like |Link to Comment
  • Northstar Is Far From An Intelligent REIT Alternative [View article]
    "tell me what you were thinking a month later when the price was down to $4.48."

    Actually, I remember considering buying more.... I didn't. 10% declines don't upset me that much, although I'd rather not see them. I wondered if I was wrong then, but I'm more concerned now after the big sales by Gilbert and Hamamoto earlier this year. They were big sellers of both NRF and NSAM.
    May 18, 2015. 07:43 PM | 3 Likes Like |Link to Comment
  • Northstar Is Far From An Intelligent REIT Alternative [View article]
    "LOL, amazing how emotional the longs get..."

    I'll say. I'm long NRF and NSAM, but I always appreciate an opposing point of view. I hope some of these guys haven't forgotten to take their blood pressure meds. A lot of longwinded vitriol on display. Whew.
    May 18, 2015. 03:38 PM | 9 Likes Like |Link to Comment
  • Northstar Is Far From An Intelligent REIT Alternative [View article]
    Brad, your chart of 3 year returns excludes the fact that NSAM was spun off from NRF in July 2014. My early 2012 purchase is now nearly a 4-bagger. Better to be lucky than smart, I guess. However, your fine article does give me food for thought about whether to continue to hold.
    I am inclined to wait for the European spinoff and to see how things shake out.

    Long NRF, NSAM and NRF-pE. Thanks for a seriously good piece.
    May 18, 2015. 08:54 AM | 6 Likes Like |Link to Comment
  • Equity CEFs: Now Is The Time For The Nuveen Global Equity Income Fund [View article]
    FWIW, AWP NAV made a golden cross in the middle of April using 50/200 week EMAs. Ditto for JGV about a week later.

    I always considered Nuveen primarily a muni shop, but when Doug speaks, one has to check it out. Long AWP.
    May 14, 2015. 11:24 AM | 1 Like Like |Link to Comment
  • Income Strategy: What You're Not Thinking Enough About [View article]
    I seem to recall reading a paper which showed the tipping point at which each issue/sector that you add doesn't give much additional diversification. I also think that number was a lot smaller than most think -- certainly lower than I expected -- something like 9 to 12.

    Caveat: going on memory here and I sometimes forget who I am.
    Apr 30, 2015. 05:14 PM | Likes Like |Link to Comment
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