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tinman

tinman
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  • With A Yield Over 9%, The Credit Suisse High Yield Bond Fund Is A Strong Buy [View article]
    CEFA says the income covers the div. Expenses are 1.75%, a bit high. Trading at a slight premium but less than historical avg.

    Most importantly, NAV has not only grown, it's grown faster than its peers. Looks like a winner.
    Aug 7 12:35 PM | Likes Like |Link to Comment
  • Krugman's Latest Debt Denial: Why His Two Magic Numbers Don't Cut It [View article]
    If your concerns about QE had merit, interest rates would be steadily climbing as QE tapers. You're far from alone in your preconceptions but perhaps you should reconsider your prejudices.
    Jul 24 01:47 AM | Likes Like |Link to Comment
  • Krugman's Latest Debt Denial: Why His Two Magic Numbers Don't Cut It [View article]
    As a Krugman fan and dyed in the wool Keynesian, I have to say I was impressed with Stockman's arguments. Far more than anyone else's on the right since, well, since before voodoo economics was invented anyway.

    And if YOU think we're going to average north of 4% GDP growth, I have a bridge to sell you. Which brings up the missing piece in this piece, i.e. INFRASTRUCTURE. We're dooming ourselves (OK, maybe just the grandchildren in my case) to long term underperformance by ignoring the clear and present dangers of crumbling and inadequate infrastructure.

    Self-inflicted wounds are invariably the most painful.
    Jul 24 12:31 AM | 2 Likes Like |Link to Comment
  • Closed-End Fund Advisors: Second Quarter 2014 CEF Review And Outlook [View article]
    Thanks for the stats. What about recommendations? The only actionable info I gleaned was to look at BDCs for yield in a rising rate environment.

    I concur with comments re BDC/CEF confusion (but kudos for the coverage anyway) and re other category granularity. The latter seems especially important with respect to destructive RoC vs non-destructive.

    Minor complaints: "NAV TR" -- it took me a while to decipher "total return". "Marco trends" s/b "macro ...". "Peaking interest" s/b "piquing...". Last line, "data form" s/b "data from".
    Jul 20 11:28 AM | Likes Like |Link to Comment
  • Equity CEFs: The Rights Way To Play CEFs [View article]
    Spike is a relative term. The 10-yr benchmark "spiked" all the way to 2.62% this week from around 2.52%. But even a whiff of rising rates is all it takes to spark a stampede ... remember May 2013's swoon? Another buying opportunity may be lurking around the corner.
    Jul 3 05:57 PM | Likes Like |Link to Comment
  • 18% Yielding CEFL Trading At A Discount To Effective Intrinsic Value [View article]
    If he didn't before, Brofman will have fear of commitment now.
    May 4 10:13 AM | Likes Like |Link to Comment
  • 18% Yielding CEFL Trading At A Discount To Effective Intrinsic Value [View article]
    2 points to keep in mind:

    In the short run, the market is a voting machine; in the long run, the market is a weighing machine.

    The market's ability to remain irrational often exceeds one's ability to remain solvent.
    Apr 8 07:32 PM | 2 Likes Like |Link to Comment
  • High-Yield Global Income Funds Offer Stability During Times Of Market Uncertainty [View article]
    FYI, CEFA says the income-only portion of EHI's distribution is over 8% as of 4/4/14.
    Apr 7 03:32 PM | 1 Like Like |Link to Comment
  • A Review Of The 2013 Dividend Champions, Contenders And Challengers [View article]
    According to the result I get applying Excel's CORREL function, yield HAS a fairly strong (-.31) inverse correlation with return for the data in question. Comparing to the far stronger direct correlations with Chowder # (.74) and 1-yr DGR (.64) , I think this indicates dividend growth rate is the sine qua non of criteria. It will be fascinating to compare other years (and other data sets generally).
    Feb 7 09:47 AM | Likes Like |Link to Comment
  • NexPoint Credit Strategies Fund - Exploiting Distress, Yet Trading At A Discount [View article]
    I can't get past the 2.93% expense ratio... Maybe if the discount widened... A lot.
    Jan 28 08:24 AM | Likes Like |Link to Comment
  • The Barnes & Noble Nook Is Cooked: It's Time To Short [View article]
    Can you say 'dinostore'?
    Dec 4 08:36 AM | Likes Like |Link to Comment
  • Floating Preferred Stocks: More Than Meets The Eye [View article]
    Great article AND comments. I would just add that there's an implicit diversification argument for the floating pfds in all this that, like my owning a little GLD despite my doubts about its prospects, makes taking a position prudent. Black swans are far more common than people (and especially the market) realize.
    Nov 8 09:38 AM | 1 Like Like |Link to Comment
  • Equity CEFs: THE Most Undervalued Equity CEF [View article]
    ETV: Avg. UNII Per Share: -$.60 (As of 6/30/2013)
    Inception (2005) NAV: $19, currently $14.50.

    Not worth another look unless the 8% discount widens considerably
    Nov 3 11:34 AM | Likes Like |Link to Comment
  • Enhance Retirement Income With CEFs Selling At Bargain Prices [View article]
    I assume your total return plots are market priced, I wonder what a NAV plot would look like (factoring out fluctuations in discount).

    In my experience, CEFs that have at least preserved NAV historically and are trading at significantly higher than normal discounts are the only ones with a risk/reward justifying a second look.
    Nov 3 11:25 AM | Likes Like |Link to Comment
  • Stock/Bond Momentum - October 2013 [View article]
    "Notice that the momentum strategy misses most of these down months as the strategy only owned stocks in eight of the ten worst months."
    ...I assume you mean two, not eight
    Oct 8 10:14 AM | Likes Like |Link to Comment
COMMENTS STATS
180 Comments
134 Likes