Heisenberg Principle's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/4772231/comments http://seekingalpha.com/article/1250671/comments?source=feed#comment-15949681 15949681 Wed, 06 Mar 2013 18:47:58 -0500 http://seekingalpha.com/article/1250671/comments?source=feed#comment-15949611 15949611
This article http://bit.ly/13GedWb said:
"the merger was accretive to shareholders"

The 10K says:
"Your ownership position will be diluted by the Merger of us and ARCT III.
The Merger of us and ARCT III will dilute the ownership position of our stockholders."

Boilerplate? No.]]> Wed, 06 Mar 2013 18:45:15 -0500
This article http://bit.ly/13GedWb said:
"the merger was accretive to shareholders"

The 10K says:
"Your ownership position will be diluted by the Merger of us and ARCT III.
The Merger of us and ARCT III will dilute the ownership position of our stockholders."

Boilerplate? No.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15949101 15949101 Wed, 06 Mar 2013 18:37:36 -0500 http://seekingalpha.com/article/1250671/comments?source=feed#comment-15949061 15949061
You're not saying anything new or even anything I didn't already cover. It's REIT 101. I know the goal of the dilution is to ultimately increase shareholder value. But there are no promises except from SA members. ]]> Wed, 06 Mar 2013 18:36:29 -0500
You're not saying anything new or even anything I didn't already cover. It's REIT 101. I know the goal of the dilution is to ultimately increase shareholder value. But there are no promises except from SA members. ]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15948941 15948941
Are you suggesting that all of these REITs are filing 10Ks that contain errors, are wrong, and need retractions?

I'm glad we're making progress. If you want to suggest that my article touches on subjects that are not of great concern, similar to boilerplate language in a 10K, that is your opinion and you may be 100% correct. And I may even actually agree with you.

The comments and articles in response don't even recognize this "boilerplate" as even existing, and are quite defense and insist things that are the exact opposite.

If you agree that my points are at least equal to the boilerplate language in "all 10Ks" then we've made great progress this evening.

There is no "next argument." I just want investors to think more responsibly when it comes to REITs. The dividend yield should have little to no influence in one's valuation of one REIT versus another going forward. It's not that simple to value them based on dividend yield and it's reckless to recommend them to low-risk dividend income-desiring retirees who don't understand the significant risks involved and this "fantastic yield" is often a mirage.]]> Wed, 06 Mar 2013 18:33:54 -0500
Are you suggesting that all of these REITs are filing 10Ks that contain errors, are wrong, and need retractions?

I'm glad we're making progress. If you want to suggest that my article touches on subjects that are not of great concern, similar to boilerplate language in a 10K, that is your opinion and you may be 100% correct. And I may even actually agree with you.

The comments and articles in response don't even recognize this "boilerplate" as even existing, and are quite defense and insist things that are the exact opposite.

If you agree that my points are at least equal to the boilerplate language in "all 10Ks" then we've made great progress this evening.

There is no "next argument." I just want investors to think more responsibly when it comes to REITs. The dividend yield should have little to no influence in one's valuation of one REIT versus another going forward. It's not that simple to value them based on dividend yield and it's reckless to recommend them to low-risk dividend income-desiring retirees who don't understand the significant risks involved and this "fantastic yield" is often a mirage.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15947981 15947981
disallusioned
All the arguments about REITS having to distribute by law, are irrelevant to the point. The MIRAGE author was trying to change the way investor 'thought' about the distributions; how they used their 'understanding' of the distribution to develop a valuation, etc.

He was not trying to say the REITS should not pay the distributions.

=============

I understand that dividends are CALCULATED from profits. Makes the IRS happy. Doesn't help investors though who know how to do prpper valuations. It's reckless and irresponsible to take these dividend yields at face value while ignoring the dilution that comes with them in my 5 examples. It's even more reckless to tell peopel they should rely on 6.8% dividend yields as if it's risk-free money in the bank.

Not shocking though. It gets clicks and paperbacks sold so who cares. Those who can, do. Those can can't, write paperbacks.]]> Wed, 06 Mar 2013 18:14:35 -0500
disallusioned
All the arguments about REITS having to distribute by law, are irrelevant to the point. The MIRAGE author was trying to change the way investor 'thought' about the distributions; how they used their 'understanding' of the distribution to develop a valuation, etc.

He was not trying to say the REITS should not pay the distributions.

=============

I understand that dividends are CALCULATED from profits. Makes the IRS happy. Doesn't help investors though who know how to do prpper valuations. It's reckless and irresponsible to take these dividend yields at face value while ignoring the dilution that comes with them in my 5 examples. It's even more reckless to tell peopel they should rely on 6.8% dividend yields as if it's risk-free money in the bank.

Not shocking though. It gets clicks and paperbacks sold so who cares. Those who can, do. Those can can't, write paperbacks.]]> http://seekingalpha.com/article/1252611/comments?source=feed#comment-15947381 15947381 Wed, 06 Mar 2013 18:04:01 -0500 http://seekingalpha.com/article/1252611/comments?source=feed#comment-15947121 15947121 Wed, 06 Mar 2013 17:58:35 -0500 http://seekingalpha.com/article/1243211/comments?source=feed#comment-15946041 15946041
In that context, all it means is that there are no options or warrants or convertible debt in-the-money outstanding. Nothing more, nothing less.]]> Wed, 06 Mar 2013 17:35:51 -0500
In that context, all it means is that there are no options or warrants or convertible debt in-the-money outstanding. Nothing more, nothing less.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15945901 15945901
Nobody in his right mind would disagree with you on that.

Do you have a point you're trying to make to go with that?

There is only one universal truth that is not an "assumption" when it comes to an equity raise: it is absolutely dilutive.]]> Wed, 06 Mar 2013 17:32:23 -0500
Nobody in his right mind would disagree with you on that.

Do you have a point you're trying to make to go with that?

There is only one universal truth that is not an "assumption" when it comes to an equity raise: it is absolutely dilutive.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15945761 15945761
No idea who he is but clearly he is quite intelligent, experienced, and informed.

A breath of fresh air.]]> Wed, 06 Mar 2013 17:30:55 -0500
No idea who he is but clearly he is quite intelligent, experienced, and informed.

A breath of fresh air.]]> http://seekingalpha.com/article/1246981/comments?source=feed#comment-15945161 15945161
disallusioned
All the arguments about REITS having to distribute by law, are irrelevant to the point. The MIRAGE author was trying to change the way investor 'thought' about the distributions; how they used their 'understanding' of the distribution to develop a valuation, etc.

He was not trying to say the REITS should not pay the distributions. ]]> Wed, 06 Mar 2013 17:24:41 -0500
disallusioned
All the arguments about REITS having to distribute by law, are irrelevant to the point. The MIRAGE author was trying to change the way investor 'thought' about the distributions; how they used their 'understanding' of the distribution to develop a valuation, etc.

He was not trying to say the REITS should not pay the distributions. ]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15943611 15943611
ARCP warns up and down left and right about the very dilution you say doesn't exist.]]> Wed, 06 Mar 2013 17:10:12 -0500
ARCP warns up and down left and right about the very dilution you say doesn't exist.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15943541 15943541
At least if you lose all your money relying on SEC filings, your family will be more forgiving than if you say "but honey, Brad on the internet told me it was a great idea so I didn't bother to read the company's own annual report."

Since Buffett's name keeps getting thrown around here -- does anybody think Buffett would recommend listening to "Brad" or to ARCP's own 10K? Why does Buffett read those pesky things when there's "Brad" he can listen to instead?

Food for thought. Eat.]]> Wed, 06 Mar 2013 17:09:23 -0500
At least if you lose all your money relying on SEC filings, your family will be more forgiving than if you say "but honey, Brad on the internet told me it was a great idea so I didn't bother to read the company's own annual report."

Since Buffett's name keeps getting thrown around here -- does anybody think Buffett would recommend listening to "Brad" or to ARCP's own 10K? Why does Buffett read those pesky things when there's "Brad" he can listen to instead?

Food for thought. Eat.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15943331 15943331
You didn't understand the article, David. Your headline alone immediately makes that crystal clear. It is reckless to insist readers should rely on such lofty dividend yields as if they are low risk. I think you know better.]]> Wed, 06 Mar 2013 17:05:26 -0500
You didn't understand the article, David. Your headline alone immediately makes that crystal clear. It is reckless to insist readers should rely on such lofty dividend yields as if they are low risk. I think you know better.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15942951 15942951
disallusioned is the first one who actually gets it. A true light in a DENSE thick fog.

Follow mark for you. And I apologize to others for not making my article more clear I guess. I honestly tried to simplify it as best I could. :)]]> Wed, 06 Mar 2013 17:01:02 -0500
disallusioned is the first one who actually gets it. A true light in a DENSE thick fog.

Follow mark for you. And I apologize to others for not making my article more clear I guess. I honestly tried to simplify it as best I could. :)]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15942761 15942761
According to many here, equity raises are not dilution because we are to automatically and unequivocally assume that management is perfect and exceptionally high returns will come from any money thrown on them. It's surreal.]]> Wed, 06 Mar 2013 16:59:01 -0500
According to many here, equity raises are not dilution because we are to automatically and unequivocally assume that management is perfect and exceptionally high returns will come from any money thrown on them. It's surreal.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15941341 15941341
The little guy is only invited to the party when he's the main course.

Be careful out there.]]> Wed, 06 Mar 2013 16:45:19 -0500
The little guy is only invited to the party when he's the main course.

Be careful out there.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15941091 15941091 Wed, 06 Mar 2013 16:43:13 -0500 http://seekingalpha.com/article/1250671/comments?source=feed#comment-15941041 15941041
We can't say for sure that the dilution with ARCP will result in value gained. That's the intention certainly by ARCP management but there are no sure things, hence ARCP warns in black bold letters that it IS dilution.]]> Wed, 06 Mar 2013 16:42:50 -0500
We can't say for sure that the dilution with ARCP will result in value gained. That's the intention certainly by ARCP management but there are no sure things, hence ARCP warns in black bold letters that it IS dilution.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15921291 15921291 Wed, 06 Mar 2013 11:30:41 -0500 http://seekingalpha.com/article/1250671/comments?source=feed#comment-15921221 15921221 Wed, 06 Mar 2013 11:29:58 -0500 http://seekingalpha.com/article/1250671/comments?source=feed#comment-15921061 15921061 Wed, 06 Mar 2013 11:28:21 -0500 http://seekingalpha.com/article/1250671/comments?source=feed#comment-15919071 15919071
I'm just correcting the epidemic misinformation that causes people to see a mirage and think it's water. It's not water: it's dilution.

Do a search for dilutive in ARCP's 10K then search for accretive. ARCP calls it dilution. accretive is a word only used by SA members. Go figure, huh?]]> Wed, 06 Mar 2013 10:59:44 -0500
I'm just correcting the epidemic misinformation that causes people to see a mirage and think it's water. It's not water: it's dilution.

Do a search for dilutive in ARCP's 10K then search for accretive. ARCP calls it dilution. accretive is a word only used by SA members. Go figure, huh?]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15917831 15917831
"Funding dividends from the sale of additional securities could dilute your interest in us if we sell shares of our common stock or securities convertible or exercisable into shares of our common stock to third party investors."

Sound familiar? 130+ page 10K and the only place you can find the word "accretive" is in the comments section of SA. Dilutive, however, is splashed throughout dozens of times. Oh the humanity.]]> Wed, 06 Mar 2013 10:44:29 -0500
"Funding dividends from the sale of additional securities could dilute your interest in us if we sell shares of our common stock or securities convertible or exercisable into shares of our common stock to third party investors."

Sound familiar? 130+ page 10K and the only place you can find the word "accretive" is in the comments section of SA. Dilutive, however, is splashed throughout dozens of times. Oh the humanity.]]> http://seekingalpha.com/article/1250671/comments?source=feed#comment-15917671 15917671
Your ownership position will be diluted by the Merger of us and ARCT III.

The Merger of us and ARCT III will dilute the ownership position of our stockholders. Following the issuance of shares of our common stock to ARCT III stockholders pursuant to the Merger Agreement, assuming 70% of the Merger consideration is paid in the form of shares of our common stock, our stockholders and the former ARCT III stockholders are expected to hold approximately 9% and 91%, respectively, of the combined company's common stock outstanding immediately after the Merger, based on the number of shares of common stock of each of us and ARCT III currently outstanding and various assumptions regarding share issuances by each of us and ARCT III prior to the effective time of the Merger (provided, however, such dilution could be greater than described herein depending on the number of shares of ARCT III common stock with respect to which ARCT III stockholders make stock elections). Consequently, our stockholders, as a general matter, will have less influence over our management and policies after the Merger than they exercise over our management and policies immediately prior to the Merger.]]> Wed, 06 Mar 2013 10:42:27 -0500
Your ownership position will be diluted by the Merger of us and ARCT III.

The Merger of us and ARCT III will dilute the ownership position of our stockholders. Following the issuance of shares of our common stock to ARCT III stockholders pursuant to the Merger Agreement, assuming 70% of the Merger consideration is paid in the form of shares of our common stock, our stockholders and the former ARCT III stockholders are expected to hold approximately 9% and 91%, respectively, of the combined company's common stock outstanding immediately after the Merger, based on the number of shares of common stock of each of us and ARCT III currently outstanding and various assumptions regarding share issuances by each of us and ARCT III prior to the effective time of the Merger (provided, however, such dilution could be greater than described herein depending on the number of shares of ARCT III common stock with respect to which ARCT III stockholders make stock elections). Consequently, our stockholders, as a general matter, will have less influence over our management and policies after the Merger than they exercise over our management and policies immediately prior to the Merger.]]> http://seekingalpha.com/article/1251051/comments?source=feed#comment-15917261 15917261
Speakerphone on the watch for driving will be fantastic. And GPS.]]> Wed, 06 Mar 2013 10:38:01 -0500
Speakerphone on the watch for driving will be fantastic. And GPS.]]> http://seekingalpha.com/article/1243211/comments?source=feed#comment-15904751 15904751
Basic Finance 101.]]> Wed, 06 Mar 2013 06:56:25 -0500
Basic Finance 101.]]> http://seekingalpha.com/article/1243211/comments?source=feed#comment-15898911 15898911
I'm shocked a seekingalpha article got pro status for calling the merger accretive, in direction contradiction to ARCP's 10K.]]> Wed, 06 Mar 2013 01:31:31 -0500
I'm shocked a seekingalpha article got pro status for calling the merger accretive, in direction contradiction to ARCP's 10K.]]> http://seekingalpha.com/instablog/4772231-heisenberg-principle/1604991-is-amarin-the-next-celsion-10-eerie-similarities?source=feed#comment-15898601 15898601 Wed, 06 Mar 2013 01:01:23 -0500