Seeking Alpha


Send Message
View as an RSS Feed
View cgm's Comments BY TICKER:

Latest  |  Highest rated
  • Sell ExOne Because It's A Bubble, Not Because Of Market Disappointment [View article]
    Well said. The clock is ticking on these stocks. Very risky.
    Aug 14, 2013. 01:59 PM | Likes Like |Link to Comment
  • CF Industries: Buying $1 For 40 Cents - Follow-Up [View article]
    I used to own CF and sold out some time ago around $200 before a significant drop below that. It has come back some. CF is definitely better than its main listed competitors. I agree that its dividend policy does not make much sense. They should, if they want to keep a dividend (and dropping it will not be received warmly by many investors) slowly, but consistently increase it if they want it to be an attraction to investors. Better yet, they should continue to plow earnings into stock buy-backs. This really is better for the shareholders in the long run. that's the argument I have made about ACAS. The management agrees with me, but some retail shareholders, particularly those who bought it originally for the dividend, still clamor for dividends, and the stock remains well below NAV despite a nice run up in recent years.
    Aug 5, 2013. 06:44 PM | 1 Like Like |Link to Comment
  • American Capital: Is It Time To Get Out? [View article]
    Even the "New ACAS" has a total return in the middle of the group you selected. Also, by buying up shares, the NAV is increased, unlike paying dividends. Moreover, the dividends on REITs are taxed heavily. Not so with ACAS's reinvestment in its own shares. which have been a pretty good investment to date. Hopefully the higher non-accruals will stop going up and the debt service will improve. It appears three loans are most of the problem here. We'll have to see how it goes. At this point, however, I don't see any reason to sell. [Certainly we do not have to worry about dividend cuts. Ha, ha, ha.]
    Jul 31, 2013. 02:55 PM | 1 Like Like |Link to Comment
  • Q2 Bond Market Mess Produces Book Value Loss And Possible Dividend Cut For American Capital Agency Corp. [View article]
    $21.85 share price was before the earnings announcement. Large increase yesterday, and some decline today due to reports of a strong economy and some increase in rates. Still, well above $21.85. I expect volatility to continue, but so long as rates rise slowly and the yield curve remains steep, it's a good time to own AGNC and the dividend will be safe.
    Jul 31, 2013. 12:21 PM | 4 Likes Like |Link to Comment
  • No Country For DryShips [View article]
    You failed to mention that scrapping of ships has increased significantly and newbuilds had dropped dramatically. You also fail to realize that DRYS can at any time sell some of its more than 50% ownership in ORIG to raise cash, so they are in no risk of default
    at any time for many years to come. They are probably in one of the
    best positions of any dry bulk carrier to last through the current downturn. You either don't know much about this stock or you don't want others to know much because you are short.
    Jul 30, 2013. 11:42 AM | 4 Likes Like |Link to Comment
  • Plains All American affiliate files for IPO [View news story]
    So is it a MLP or a C corp?
    Jul 29, 2013. 06:47 PM | Likes Like |Link to Comment
  • Atlas Energy (ATLS) declares $0.44/share quarterly dividend, 42% increase from prior dividend of $0.31. Forward yield 3.47%. For shareholders of record August 6. Payable August 19 . Ex-div date August 2. (PR[View news story]
    Wow. Nice increase. It should be interesting to see what the shares do tomorrow.
    Jul 24, 2013. 07:05 PM | Likes Like |Link to Comment
  • Harvard Bioscience Spin-Off Likely To Drive 50% Near-Term And 100%+ Long-Term Upside [View article]
    There seems to be a lot of wishful thinking here. We have a lousy management leaving a company to "manage" a spin-off with $15 million of the legacy company's assets (to mismanage presumably), leaving the legacy company without experienced upper management. We have a legacy company with a very slow rate of growth dependent on acquisitions for growth. It all depends on whether you are correct that the legacy company can bring in someone who can dress up the legacy company and sell it.
    Jul 19, 2013. 01:26 PM | 4 Likes Like |Link to Comment
  • Arena Stock Reacts To Sales Pace [View article]
    ARNA had Eisai as a partner before FDA approval.
    Jul 19, 2013. 11:40 AM | 1 Like Like |Link to Comment
  • Vanguard Natural Resources Now King Of Upstream MLPs [View article]
    I own LINE and VNR (among others). I think LINE will be fine. Right now it is the best bargain, just as BP was the best bargain after Macondo took it down. An informal investigation by a filed office is not like a formal investigation by the national office. If could be some shorts pushed to get the informal investigation, which the officers of LINE felt they had to disclose, thereby playing into the hands of the shorts. A more conservative way to play the LINE situation, if you need to be conservative is to buy BRY. They will do well whether LINE ends up acquiring them or the go it alone, particularly from the current price. [I own some BRY too.]
    Jul 12, 2013. 04:26 PM | 1 Like Like |Link to Comment
  • American Capital Agency Corp.'s Upcoming Q2 2013 Income Statement Projection (Part 1) [View article]
    Not paying $1.25 anymore. They are paying $1.05.
    Jul 9, 2013. 06:43 PM | Likes Like |Link to Comment
  • An All-In Bet On David Einhorn: Greenlight Capital Re [View article]
    Hedge fund managers are great at making money, but not for their investors. From 1998 to 2010 hedge fund managers collected $379
    billion in fees. Their investors made only $70 billion. According to Goldman Sachs this year the average hedge fund has made 5% versus 15% for the S&P index.
    Paying 1.5% plus a 20% performance fee is a rip-off.
    One would be better off in BRKB, MKL or, in Canada, Fairfax.
    Jul 2, 2013. 02:07 PM | Likes Like |Link to Comment
  • KBR To Benefit From LNG Projects Surge [View article]
    "Taper tantrum" - cute
    Jul 1, 2013. 08:29 PM | Likes Like |Link to Comment
  • Buy The BDC With A Buyback Yield Of 13% [View article]
    I find it odd that ACAS continues to sell at such a discount. I guess the answer is largely that most BDC investors are looking for cash income, which ACAS does not provide. As you say, they do better reinvesting in buying up their own shares. I tell people that if they
    really need the cash income, they can always sell a portion of their holdings and pay taxes at capital gains rates (assuming they sell at a profit).
    Jul 1, 2013. 08:21 PM | Likes Like |Link to Comment
  • Dividend Payer MFA Financial Well Positioned For Rapid Rate Increases [View article]
    There is no need to file a K-1 with MFA or any REITs. K-1s are onlyh for MLPs and other partnerships.
    Jun 27, 2013. 12:41 PM | 3 Likes Like |Link to Comment