Christy Clark’s Liberal Party won an upset victory in British Columbia, defeating a New Democratic Party that had been leading in the polls for almost two years, suggesting stronger than expected voter approval for the Northern Gateway oil pipeline. NDP leader Adrian Dix had vowed to block plans by Enbridge (ENB) and Kinder Morgan Partners (KMP) to ship more oil across the Canadian province. [View news story]
This site is about investment, not politics. Your histrionics should be taken to a venue where they will be appreciated. Did you possibly confuse "SA" with "Salon"?
Canadians understand their interest in moving the bounty of their tar sands to market. Since there appear to be political obstacles to it moving south to the US, it will instead flow to the Far East. This can be done through the constricted pipeline facility currently available and by rail. But it is far more economical and environmentally friendly to construct additional pipeline capacity. And why shouldn't the citizens of the Canadian Provinces, including BC, reap some of the bounty? What are you willing to pay them to forego the largesse coming their way to allow you to indulge your crusade? Nada.
A Closer Look At Enterprise Products Partners' Distributable Cash Flow As Of Q1 2013 [View article]
IRS Section 1245 (b) (2): Transfers are NOT taxable on death...and you can take that to the bank. The question is whether if and when sold, post inheritance, whether or not the basis claimed is stepped up. If your tax/estate attorney is telling you that the basis is not stepped up (as apparently the case with Emerald here), I suggest you find another. I can tell you from several actual experiences that MLPs will, in practice, step up the basis in the K-1 packages that they produce...BPL, EPD, SPH and MMP did so. You may need to check that out as it could vary on a case by case basis. Or you may think it better to let sleeping dogs lie.
American Capital: When Will It Pay A Dividend? [View article]
There is a market for this buy back below book value approach...compounding the actual (extremely "lumpy") gains from the business.I have one tranche with a basis @4 and a second @7. I'll take the LTCG as I have Cap loss carryover to marry to it when/if I think the potential for their approach is maxed out. In the meantime, there are numerous options for those thirsty for yield, in the BDC community and elsewhere.
Are You Ready For The 2013 Obamacare Investment Tax? [View article]
You say: "Saying that because health insurance in mandatory for full time workers is causing companies to cut hours not to pay insurance means that those companies didn't pay health insurance in the first place." -------------------- That does not logically follow. You overlook the fact that Obamacare mandates a one-size-fits-all "Cadillac" coverage that crashes the "catastrophic only" or "menu/optional" coverages that were previously extant as alternatives. So cutting people back to part timers or, even for full timers, the "fine" that a company incurs for not providing medical insurance may not even reach the cost of the present limited coverage, let alone the cost of the "Cadillac." And so companies dropping coverage could even save money vs. their present health coverage costs. I know of one local manufacturing concern with @450 employees where that is the case.
What was patently false was the sweeping assertion by a fact-free politician that "If you like your insurance, you can keep it." When the dust settles, you will get your requested studies. In the meantime, we have anecdotes and each one is another nail in the coffin.
American Capital: When Will It Pay A Dividend? [View article]
One may agree or disagree with the ACAS strategy but cannot quibble that they have not been transparent about either the game plan or the risks involved. When they plunge and succeed, we all celebrate but even the NOLs generated when they come up craps will eventually have their value and can be viewed as the "premium" you pay for participating in the smashing successes enjoyed on the successful plays.
ACAS is not for the widows and orphans or the faint of heart and kudos to the author, who has done an excellent and very well-focused job of laying out the options and risk/reward profiles of the BDC industry.
Long ACAS, PSEC and ARCC. I am following MAIN and TCAP as well, but they are too rich for me at these levels.
Ken: I have been (silently of late) following this issue through not only this thread but many others where the conversation, after readdressing the significant complexities of MLP taxation for one new audience after another, inevitably gets around to the still more thorny thicket of estate implications. After bravely taking a stab at definitive resolution, I think you have struck the right note here...it is laissez-faire...a delicate dance between what logic seems to demand and what is actually enforceable. Apparently such a dangerous dance that the CPAs and tax attorneys have not mastered it...at least not such that they care to publish it.
Moreover, most of the interested parties will never have to personally deal with the fallout...a problem deferral even more certain than that involved in income deferral. Again, kudos for your game effort and my apologies for any caustic language in attempting to elicit certainty where I now realize there is none available. Keep up the great educational work you do here at SA.
Armour Residential (ARR) revises last night's earnings release, saying core EPS of $0.18 should actually have been $0.20, and GAAP EPS of $0.27 should have been $0.29. The total income wasn't changed, just the per share amounts. Stock's off 1.9% premarket, inline with sizable drops in most mREITs following the AGNC loss. [View news story]
The pre-dilution shares are not available for purchase. Going forward, we must deal with things as they are, not as they might have been.
American Capital (ACAS +1.9%) gets a little love from Wells Fargo after yesterday's post-earnings swoon. The stock trades at a massive discount to its BDC brethren - 0.74x NAV compared to 1.08x for the group - likely because of its policy of buying back shares instead of paying a dividend. Did ACAS have credit issues during the financial crisis? Yes, but no more so than MCGC which trades at book. "Market irrationality," say the analysts. [View news story]
Agreed. Providing the buybacks are done at optimum discount to book value, you are getting a premium to whatever growth in book they are achieving. And ACAS has been rather outstanding in that achievement. To some extent this process is enabled by the lack of the conventional BDC dividend payout (dividends tending to put a floor under a stock price) and the "lumpy" earnings (as deals close and profits are realized sporadically), These factors exacerbate price fluctuation and help provide occasional bargain prices.
Of course, this stock is not for those dependent on a steady stream of portfolio income as a means of support. And also possibly not for the faint-hearted who hang on each quarterly earnings report.
Disclosure: Happy camper, long ACAS pre-recession and position significantly added to on dips since.
mREITs Facing Attack From Regulators [View article]
Progressives are authoritarians. It's just that instead of worshipping at the altar of God or the Aryan race or the Proletariat, they worship at the altar of the "public interest." And they are uniquely blessed and knowledgeable as to the common good...right down to regulating the size of soft drinks and the consumption of popcorn. So, they are not only permitted to enforce the public interest, they are responsible and obligated to do so. To do less would be an abdication of their responsibility...noblesse oblige. ...LMAO
Cisco Systems - Shares Bounce Higher As Chambers Sees Encouraging Signs [View article]
Berkshire Hathaway Just Bought This Undervalued Dividend Stock: How You Can Profit [View article]
Christy Clark’s Liberal Party won an upset victory in British Columbia, defeating a New Democratic Party that had been leading in the polls for almost two years, suggesting stronger than expected voter approval for the Northern Gateway oil pipeline. NDP leader Adrian Dix had vowed to block plans by Enbridge (ENB) and Kinder Morgan Partners (KMP) to ship more oil across the Canadian province. [View news story]
Canadians understand their interest in moving the bounty of their tar sands to market. Since there appear to be political obstacles to it moving south to the US, it will instead flow to the Far East. This can be done through the constricted pipeline facility currently available and by rail. But it is far more economical and environmentally friendly to construct additional pipeline capacity. And why shouldn't the citizens of the Canadian Provinces, including BC, reap some of the bounty? What are you willing to pay them to forego the largesse coming their way to allow you to indulge your crusade? Nada.
This Undervalued Dividend Stock Just Announced Record Earnings [View article]
A Closer Look At Enterprise Products Partners' Distributable Cash Flow As Of Q1 2013 [View article]
American Capital: When Will It Pay A Dividend? [View article]
Are You Ready For The 2013 Obamacare Investment Tax? [View article]
--------------------
That does not logically follow. You overlook the fact that Obamacare mandates a one-size-fits-all "Cadillac" coverage that crashes the "catastrophic only" or "menu/optional" coverages that were previously extant as alternatives. So cutting people back to part timers or, even for full timers, the "fine" that a company incurs for not providing medical insurance may not even reach the cost of the present limited coverage, let alone the cost of the "Cadillac." And so companies dropping coverage could even save money vs. their present health coverage costs. I know of one local manufacturing concern with @450 employees where that is the case.
What was patently false was the sweeping assertion by a fact-free politician that "If you like your insurance, you can keep it." When the dust settles, you will get your requested studies. In the meantime, we have anecdotes and each one is another nail in the coffin.
Textainer Group (TGH): Q1 EPS of $0.81 misses by $0.11. Revenue of $128.8M (+9.6% Y/Y) misses by $6.42M. (PR) [View news story]
American Capital: When Will It Pay A Dividend? [View article]
ACAS is not for the widows and orphans or the faint of heart and kudos to the author, who has done an excellent and very well-focused job of laying out the options and risk/reward profiles of the BDC industry.
Long ACAS, PSEC and ARCC. I am following MAIN and TCAP as well, but they are too rich for me at these levels.
MLPs - A Reality Check ? [View article]
Moreover, most of the interested parties will never have to personally deal with the fallout...a problem deferral even more certain than that involved in income deferral. Again, kudos for your game effort and my apologies for any caustic language in attempting to elicit certainty where I now realize there is none available. Keep up the great educational work you do here at SA.
Armour Residential (ARR) revises last night's earnings release, saying core EPS of $0.18 should actually have been $0.20, and GAAP EPS of $0.27 should have been $0.29. The total income wasn't changed, just the per share amounts. Stock's off 1.9% premarket, inline with sizable drops in most mREITs following the AGNC loss. [View news story]
American Capital (ACAS +1.9%) gets a little love from Wells Fargo after yesterday's post-earnings swoon. The stock trades at a massive discount to its BDC brethren - 0.74x NAV compared to 1.08x for the group - likely because of its policy of buying back shares instead of paying a dividend. Did ACAS have credit issues during the financial crisis? Yes, but no more so than MCGC which trades at book. "Market irrationality," say the analysts. [View news story]
Of course, this stock is not for those dependent on a steady stream of portfolio income as a means of support. And also possibly not for the faint-hearted who hang on each quarterly earnings report.
Disclosure: Happy camper, long ACAS pre-recession and position significantly added to on dips since.
mREITs Facing Attack From Regulators [View article]
You may not care for the manner in which they do, but the mreits ARE making money. Therefore, your conclusions are based on a false premise.
mREITs Facing Attack From Regulators [View article]
mREITs Facing Attack From Regulators [View article]