Finance professor at St. Olaf College in Northfield, MN since 1990. CPA/CMA. Personal investment experience with stocks, bonds, ETFs, ETNs, options, futures, options on futures, and commodities.
I am an investment adviser and owner of True Vine Investments, a Registered Investment Adviser in the United States.
Individual stocks from mainly the U.S., Australia, Canada, and the U.K. are my preferred investment vehicle. I also have an interest in a select few Russian equities based on my view that Eastern Europe is being transformed by economic freedom and will have a dynamic economy in the decades to come.
The Lord Jesus Christ is the center of my life and investing. He has radically transformed both. The unique approach to investing that He has given me is detailed on my company website, where I also write an investing blog called The True Vine Letter.
I previously worked for JPMorgan Asset Management for 10 years. I spent the last several years there as Vice President and Onboarding Manager for the Global Liquidity Business. I have a Finance degree from Susquehanna University (1999) and I hold the Chartered Financial Consultant Designation (ChFC).
I am the author of The Truth On Investing: From The Darkness Of The Crowd To The Light
Time management is essential to monitoring a 47 position portfolio. My 1st comment concludes with "Rich-unck:xx hrs"; I uncheck from the article to avoid repetitive comments, nonsense, and (most) arguments. I extend another XX hrs when I respond to a question or comment...I also respond to all PMs.
BACKGROUND My journey as a self-directed investor (SDI) began in 1973, and resulted in financial independence at age 52, which also allowed me to retire from corporate life the following year (Feb 1995).
I have no special knowledge not attainable by others who also dedicate themselves to the study of the economy, market, and stocks...I could cease all portfolio management today, and place it with a professional manager; however, I enjoy the psychic and financial rewards. Alternatively, I could become a passive investor via mutual funds and/or index ETFs (those works too! ). With few exceptions, As a rule, Rich only discusses his IRA here--it is only a portion of his and Joyce’s investment assets.
INVESTMENT PHILOSOPHY If you ‘lived for today’ over the past 5 or 6 decades, you better invest in lottery tickets. The most probable path to a financially secure retirement is the product of an investment program (either active or passive) started when relatively young; living on less than all your after-tax income (saving means delayed gratification); and either self-directed or via professional management, adopting a sensible strategy suitable to age and comfort zone. There is wisdom in flexibility, diversification, and not being life-long wed to any strategy. It is appropriate to take greater risk for greater rewards (sensible growth stocks) when younger, as those are our lowest earnings years combined with our highest expense years--in the years between early investment and retirement, investments in solid growth companies can double 8 times or more.
There is time to adjust allocations to a more conservative strategy when closer to retirement. Never assume you have an information edge over the professionals. Time-in-the-market is your principle advantage. When/if you become interested in dividend stocks, never forget both price return and dividends compound, and price more so.
Financial independence is achieved when one has sufficient confidence his/her lifestyle will not change significantly, regardless of the potential depth or breadth of decline suffered by their portfolio--including a prolonged series of bear markets such as 1929-37. True, the recent 18-month bear market ending mid-2009, was deep--but also too brief to consider its lack of widespread dividend cuts to be as proof a portfolio of dividend-payers won't suffer income losses in a more prolonged decline (i.e., no portfolio is "dividend bulletproof").
The balance of this profile is lengthy, and likely not helpful to passive investors who simply go along for the ride, their portfolios bobbing up and down like flotsam in the ocean; their course always subject to the whims of winds, waves, and trends...THIS IS YOUR ONLY WARNING!
PORTFOLIO GOALS Now in my 70s, it’s no longer appropriate to engage in the growth strategies applied in wealth accumulation. As a more conservative investor, 100% of his portfolio consists of dividend-payers. 95% of positions have investment grade credit ratings (the lone exception is a REIT).This combination, along with having companies in 10 of the 11 S&P GICS sectors (none in Materials at this time) provide a measure of diversification. This IRA portfolio holds no bonds, though bonds and other investments are held elsewhere.
Maximizing total return and wealth preservation are mutually exclusive. A key observation: Having the capacity for risk is not the same as having the tolerance for it!
Rich’s objective is now a ‘smoother-ride’ that levels out the market’s peaks and valleys (limit losses, trim notable excess valuation). That smoother ride in an all-equity portfolio cannot be achieved without active management and continuous monitoring of positions--therefore TIME is an essential input to his portfolio management. Active management does not’ means frequent changes, as it is not unusual for a quarter or more to pass between a trimming or sale (nonetheless, when a company fundamentals change, or a mistake is made, corrective action is taken.)
STRATEGY SINCE 2008 Rich targets both legs of TOTAL RETURN (distributions + price change). His Growth & Income strategy often focuses on VALUE investing tactics applied to dividend-payers. Value investors seek out unpopular, companies most investors are avoiding (i.e., fundamentals have declined but credit rating is strong, BoD has implemented a rational recovery plan, and the dividend not in danger). Value investors seek to be paid to wait for other investors to recognize the stock’s value and assign it a greater share price. In any event, value stock or growth stock, Rich always seeks a ‘margin of safety’--no shares are bought at prices >FV, and his margin of safety is derived from dividends paid, price appreciation, and rising FV over time.
In all cases, value or growth, Rich selects well-established dividend-paying companies having a high-probability of growing earnings (growth of earnings is ESSENTIAL to growth of price and dividends). He tends to be flexible, forward looking, reactive to changing fundamentals, and willing to admit a mistake so action follows.
SDI is not easy, success is not assured, and in recent decades, advice from academics, and investment coaches, almost universally recommend index funds. Those NOT having the prerequisite time and interest are unlikely to develop the requisite skills for stock investing--thus the probability strongly suggests most newbies would be better served by indexing (Ben Graham wrote favorably of indexing). However, when done successfully, self-directed stock investing can offer rich psychic and financial rewards.
CORE PORTFOLIO Presently, +/-30 equities. Core holdings dominate at about 65% of total portfolio positions. Favored are traditional, large- and mid-cap, low-beta, best/near-best in class, institutional-owned, moaty, dividend-paying, value and growth stocks, having investment-grade debt ratings, and representing the consumer staples, healthcare, utilities, and telecom sectors.
OPPORTUNISTIC PORTFOLIO The remaining 15+ positions consist of equally well-known dividend-payers found among widely-owned cyclicals, such as financial, industrials, consumer discretionary, technology, real estate, and energy sectors are sensitive to the economy. In an expanding economy, cyclicals typically grow their earnings (and dividends) faster than do the typically slower-growing core companies. But because the reverse is also true, in a contracting economy, these positions are intended to be heavily trimmed to preserve gains as the economy peaks and shows evidence of decline. Some are susceptible to quite significant price declines when Mr. Market assumes their will suffer reduced earnings, and sometimes dividend-freezes/cuts, in anticipation of those events.
Rich is sometimes fully-invested, but unlike some, observes no such rule. Building a large cash cushion at the front-end of a correction/bear market (-20%) provides the dry powder required to both cushion the market's decline, and also creates the cash required to purchase excellent companies at below FV prices (without having to sell a position he wants to keep!).
TRIMMING POSITIONS When positions in either portfolio become significantly overvalued, they are trimmed by 5-10%, and the proceeds applied to fairly valued companies before the (almost always) temporary gift of over-valuation reverts to the price mean. If the position continues to advance, and absent other information, the position will be trimmed again. Added benefits to selective trimming include (1) serves as a more sensible method of rebalancing (as opposed to automatic--professionals do not use such a meat cleaver); (2) reduces the position's remaining Capital at Risk (which may suggest room for additional shares within an otherwise full position), and (3) provides the necessary dry powder to buy other shares at FV or below.
OTHER INTERESTS As we age, the importance of family grows. Rich has long volunteered in his community; over the years has served with distinction as member/chair of a number of advisory committees. Assisting others on SA is also a source of satisfaction and fulfillment.
Finally, having been blessed by years of excellent investment performance, Joyce and Rich have long been avid world travelers, and have visited over 60 countries over a span of 30 years (his SA avatar reflects the Taj Mahal in his sun glasses). They reside in Michigan--for 9 months of beauty, bliss, and family, and thoroughly enjoy wintering in equally beautiful Naples FL--for 3 months of sunny warmth and relaxation.
Life is good--it's been an unbelievably awesome ride!
Academic background in Applied Mathematics. Participant in high technology including computing and networking as a Member of Technical Staff, algorithm designer and Product Manager. Pursuing original interests in Health Care and Health Care Systems by doing coursework and research in Public Health, Pharmaceutical Economics, Integrated Medicine and Neurobiology. Founded www.ModelHealth.org in order to do research, analysis and writing on topics involving Long Term Care, Mobile Health and Big Data's impact. Convergence of these topics is likely to be fascinating, frustrating, complicated, full of investment opportunities and really meaningful to people's health and well-being.
James has degrees in both Economics and Political Science. He is a small business owner with several years of past political experience and 17 years of active investing.
You can get a 48-72 hour advantage on all his work through Value Investor's Edge as well as exclusive research and analysis by J. Mintzmyer.
Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event driven, value-oriented investment opportunities. Rangeley Capital and his value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for its investors and then Mr. DeMuth writes about them on StW.
Data Center Knowledge - Contributor: writing about data centers REITs -- a new and growing asset class -- attempting to bridge the gap between technology & traditional REIT investors.
Researching and writing at the corner of Main St. & Wall St. where real estate often intersects with trends in: technology, ecommerce, office/industrial, healthcare, cloud computing, energy infrastructure & green initiatives.
Recently covered breaking news and actionable ideas REIT ideas for Benzinga "REIT Beat," now Contributor/Sr. REIT Expert. Select articles featured on Investopedia.com, Seeking Alpha, and published on Yahoo! Finance, Google, MSN, Finviz and many other financial portals. Recent Select Freelance contributor for Motley Fool, writing about REITs and real estate topics for the Financial Bureau.
I have over 25 years of experience as a: developer of institutional quality office and industrial facilities, general contractor, homebuilder, managing general partner for private limited partnerships, and have performed consulting and transactional real estate services for others, including entitlements for planned commercial/office/industrial developments.
Past job experience included: V.P. of Energy Services for a Florida based Mechanical Contracting company, which subsequently was acquired by EMCOR (NYSE: EME). Responsibilities included development and "financial engineering" of projects to reduce energy consumption and total cost of ownership solutions, partnered with the two major Florida electric utilities, and private companies, (including Enron Energy Services!).
Education: UCLA - BA Economics, including graduate coursework in Real Estate Finance.
Masters Degree from St. Thomas University - Miami, FL
Brad Thomas is a research analyst and he currently writes weekly for Forbes and Seeking Alpha where he maintains research on many publicly-listed REITs. In addition, Thomas is the Senior Analyst at iREIT Forbes and Editor of the Forbes Real Estate Investor, a monthly subscription-based newsletter.
Thomas has also been featured in Forbes Magazine, Kiplinger’s, US News & World Report, Money, NPR, Institutional Investor, GlobeStreet, and Fox Business. He was the #1 contributing analyst on Seeking Alpha in 2014 (as ranked by TipRanks) and he is currently writing a book on the legendary investor Donald Trump.
Thomas has co-authored a book (The Intelligent REIT Investor) that is available on Amazon.
Thomas received a Bachelor of Science degree in Business/Economics from Presbyterian College where he played basketball. He resides in South Carolina with his wife and kids.
My goal is to bring exposure to business development companies (BDCs) that finance small to medium sized businesses, typically overlooked by banks. BDCs are an instrument for investors to earn healthy dividends by avoiding double taxation at the corporate level and allowing income to flow directly to each shareholder. Please see website link below for more information.
An investor with circa 30 years of professional, managerial and financial experience, gathered through both private-individual activities as well as asset management type of roles.
I'm involved in running a leveraged fixed-income, absolute return, hedge fund that aims at providing its investors with double-digit returns, per annum. The fund runs a fast, frequent and furious trading strategy and it focuses on the very short term. Definitely not a Buy & Hold!
I'm also advising and consulting to private individuals, mostly HNWI that I had been serving through many years of working within the private banking, wealth management and asset management arenas. This activity focuses on the long run and it's mostly based on a Buy & Hold strategy.
Risk management is at the very core of our essence and while we normally take LONG-naked positions, we constantly hedge our positions, in order to protect the downside, that usually occurs at times when you least expect that to take place...
I cover all asset-classes though mostly focusing on cash cows and high dividend paying "machines" that may generate high (total) returns: Interest-sensitive, income-generating, instruments, e.g. Bonds, REITs, BDCs, Preferred Shares, MLPs, etc. combined with a variety of high-risk, growth and value stocks.
I believe and invest for the long run but I'm very minded of the short run too. While it's possible to make a massive-quick "kill", here and there, good things usually come in small packages; so do returns. Therefore, I (hope but) don't expect my investments to double in value over a short period of time. I do, however, aim at an annual double-digit returns on average, preferably on an absolute basis, i.e. regardless of markets' returns and directions.
Timing is Everything! While investors can't time the market, I believe that this applies only to the long term. In the short-term (a couple of months) one can and should pick the right moment and the right entry point, based on his subjective-personal preferences, risk aversion and goals. Long-term, strategy/macro, investment decisions can't be timed while short-term, implementation/micro, investment decision, can!
When it comes to investments and trading I believe that the most important virtues are healthy common sense, general wisdom, sufficient research, vast experience, strive for excellence, ongoing willingness to learn, minimum ego, maximum patience, ability to withstand (enormous) pressure/s, strict discipline and a lot of luck!...
50/50 Portfolio; June 2016 YOC 10.0% about 6 months before retirement, dividends at 72% of my gross employment income. I created a High Yield Investment dividend generator that contains a 50% weighting between agency mortgage REITs and BDCs.
My current investment method started January 2014 to concentrate on high yield equities that put more importance on income and less on capital appreciation. Investment purchase is based on each individual stock generating a minimum dividend per year. As long as stocks are generating income to meet or exceed my minimum dividend they will not be added too or removed. Currently all dividends are reinvested back into stocks that require their dividends to be increased to meet my minimum yearly dividend. We will see how this works over the years.
1) The REIT sector consists of residential and commercial property investments. What better way to invest in hundreds of properties without actually owing the physical property.
2) The BDC are Business Development Companies that invest in hundreds of businesses that create products and employment opportunities. Here again the BDC does all the research to lend to businesses and the investor does not have to actually own the physical business.
3) The investment selection is based on this principle; BDCs outperform when markets are going up (positive correlation), and mREITs, outperform when markets are going down (negative correlation). This is based on a research study performed by Wells Fargo titled “The 50/50 Portfolio, Milton Friedman’s Only “Free” Lunch. And runs through an analysis in demonstrating how combining BDCs and Agency mREITs leads to sustainable long-term alpha throughout cycles.
4) Capital gain does not apply to my investment method since this implies the anticipation of buy and hope for price increase in order to sell at a profit. I have already stated the HYBRID method holds investments based on cost basis and dividends per share as the method of yearly appreciation.
5) A bird in the hand is worth 10 in a bush, applies to this investment style. The return I get on my investment is what counts toward the recapture of my initial investment cost. I can calculate how many years it will take before my initial cost will be repaid and that investment now becomes perpetual income. I’m not a trader, just a buy, hold and collector (dividends * shares). I can’t count on capital appreciation since all investments will increase and decrease in any market cycle. Dividends I can count on as payment for investment risk that accumulates over time.
6) Update 20140612, Portfolio Plan; Build a portfolio that generates income 150% of minimum required. Example I need 10K from 30 stocks made up of REITs and BDCs. Diversification is already built into each stock because each one contains hundreds of properties and business, so 30 stocks is plenty. Now to generate 10K minimum income I will establish a 50% margin of error (or income default). So to get 10K minimum I will need 15K of income (10K * 1.5). This means each stock is required to generate at least $500/yr each. I can withstand a 33% hit in the dividends and still meet my 10K minimum requirement. That is 10 stocks can go to zero and the remaining 20 will create my minimum 10K.
7) Update 20140729, I do not invest in individual companies, too risky. The following is the logic behind this statement compared to BDC investments. If I invest in 30 dividend companies, anyone of them may have financial problems and drag down the portfolio very quickly. The Due-Diligence (DD) would take all my time to analyze past performance and make judgments for the future, and current events can tank a stock fast. Every company needs money to run operations and for capital improvements and this is where BDCs come into play. The individual company has to borrow funds and BDCs are there to provide the capital. So the BDC is like a bank to lend money. Each BDC may contain hundreds of separate loans going to hundreds of different companies making the BDC less risky than owning individual companies. If one of the companies that the BDC has a loan with goes bankrupt, the BDC will recover some if not all of the loan monies lent to the failed company, and the BDC will continue with a very small disruption to its bottom line. So in effect owing BDCs that contain hundreds of investments (loans to companies) earning a consistent repayment to principal and interest is safer than just owning an individual low yielding company. When you invest in a BDC or REIT you are investing in the managers that perform the DD by analyzing the companies first before loaning them money to run their business.
Owing 10 or more BDCs is like having investments in thousands of companies with a very low risk of any one individual company causing portfolio damage, while your portfolio grows faster with the high yields from BDCs and REITs.
8) I have developed FREE Excel applications for planning retirement during the accumulation and distribution phase, the links are in my articles, (Dividend Growth Calculator... and Predicting Retirement...) As I develop additional Excel 2010 applications I'll make them available to all SA members. We are all in the same boat trying to achieve a better life in retirement.
Who I Am: I'm a retired individual investor. I retired at the end of 2013 after a 35 year career as a professor and research scientist at a major research university. So -- a career as a researcher and an educator, which is what I hope to continue here. Virtually every good teacher I've ever known says some version of "I learn more from teaching than my students do." There's a lot of truth in that, enough that there's an underlying selfish motivation for my writing here as I continue to learn about investing.
My professional life involved multiple international projects and collaborations, so I traveled extensively over those 35 years. I plan to continue doing so in my retirement. One consequence is that I'm liable to disappear from the site for extended periods. How can you miss me if I don't go away?
My investing priorities are building and refining portfolios designed to provide income and capital growth: Income for my retirement needs, and capital growth for my estate. My investing interests are tax-advantaged income from a range of sources, portfolio strategies, information- and bio-technology, and momentum-based strategic allocation.
Why I Write for Seeking Alpha: I learned long ago that "writing is nature's way of letting you know how sloppy your thinking is." The line comes from a Guindon comic strip of many years ago, and could not be more true in my case. When I did research professionally, I learned that writing it up forces me to think about details I might otherwise overlook. It's how I spent my working career, so it comes more or less naturally to me. I consider it an essential part of doing any research. So, the writing I do here is as much for myself as for the reader. As I started to contribute articles here, they grew out of research for my personal investment portfolios. They're based on things I've uncovered that are of interest to me and may be of interest to others of like mind. My primary purposes in writing them are to help clarify my thinking and to get feedback from others who may have very different opinions. It's those thoughtful comments that make Seeking Alpha such an important resource.
I try to actively engage myself in the comment streams in my articles, contributing what I can and learning from others. As a research scientist I spent a career spanning four decades devoted to free exchange of information vetted by rigorous peer review. It's a concept I firmly believe in. I hope to bring that approach to my interactions and contributions on Seeking Alpha and welcome critical commentary on anything I may contribute here. I especially encourage and appreciate thoughtful comments from those who disagree with me (although I will ignore obvious trolls and encourage others to do so as well). So, go ahead, start a conversation in the comment threads. It's one of the best things about Seeking Alpha.
My Investment Philosophies and Strategies: I maintain two portfolios. My income portfolio is a taxable account. I try to keep it separate from the growth portfolio which is housed in a series of IRAs, traditional and Roth. My income focus is on tax-advantaged income. In 2016 I face minimum required withdrawals from my tax-deferred accounts, so tax efficiency is an important consideration. The IRAs I see as my estate and are focused on generational wealth building. That means the growth portfolios have a long-term horizon, well beyond what an investor of my age might be expected to maintain.
Who Is Left Banker? Ah yes, the name. When I first joined Seeking Alpha I had no intention of being anything but an occasional reader. I saw it as another research site. So, I just ported a name I've used on other sites. I spent some of the best times of my life living on the left bank of the Seine and am always thrilled to be back in La Belle Paris. Add that I also like it because I find several subtle word plays there; I'll leave it to you to decipher that comment.
Finally, I've chosen to remain anonymous, which I feel obligated to justify. First, I have no professional role in finance and nothing to sell, so there is no advantage to be gained by "making a name for myself' here. Second, I value my privacy and have kept my internet presence as low-key as my professional life allowed. I certainly want to avoid any possibility of some internet connection trying to track me down. Odds against that happening are, of course, outrageously long, but why take them on at all?
Disclosures: I have no ties to the financial or security industries in any form. My interests are strictly personal. The banker part of the nym has absolutely no relationship to the profession of the same name. Readers should be aware that I am an investing novice, some might say dilettante. I do not give advice; what I publish is much more in line with a research notebook. Anyone who finds anything of interest will necessarily want to do his or her complete research and due diligence. It would be foolish to rely on my conclusions without having done so.
25 years in energy M&A/Corporate Finance business career. Senior officer for public E&P companies, including MLP, charged with overseeing (at different times) accounting, tax, legal, investment banking/analyst relations, investor relations, as well as business unit with land, engineering, geological and support functions. Used legal background to interface with and direct outside investment bankers, law firms and accounting firms in M&A transactions and offerings. Personal investments and trading 15 years.
Doug K. Le Du is a preferred stock researcher, author of the book titled Preferred Stock Investing, syndicated writer and publisher of three monthly preferred stock newsletters.
Doug has been studying the preferred stock marketplace since 2002. In 2006 he published the first edition of Preferred Stock Investing which has been updated and re-published regularly since then.
Preferred Stock Investing teaches risk-averse investors how to screen, buy and sell the highest quality preferred stocks. The book lists all qualifying preferred stocks that have been issued since January 2001.
The ten selection criteria from Preferred Stock Investing filtered out the 57 preferred stocks from the big banks that would be claimed by the Global Credit Crisis and let pass the 13 issues from the big banks that were saved by acquisition. In 70 out of 70 cases, a 100% success rate for almost two years running, the preferred stock selection criteria found in Preferred Stock Investing protected preferred stock investors.
As a researcher, Doug researches the market price behavior of the highest quality preferred stocks and writes to you about trends and opportunities. His premium subscription service (described at www.PreferredStockInvesting.com) providers subscribers with email alerts of new preferred stock issues, access to his preferred stock catalogs and HotLists, a monthly newsletter just for premium subscribers and much more.
Doug's academic background is in economics and statistics. Doug retired from his position as Managing Director at one of the world's largest management consulting firms in 2002 to focus on preferred stock research. Doug does not sell preferred stocks nor is he a stock broker or financial adviser.
Bob is retired from a career in law enforcement including more than 20 years as an instructor of Investigative Interviewing. He is a Dividend Growth investor using dividend yield from low beta stocks for income and preservation of capital. Bob has self managed his portfolio since early in 2011. He hopes to encourage discussion among those already in retirement and receiving income from their portfolios.
My curent portfolio is available here:
I believe that everyone needs a portfolio business plan.
Here's a copy of ours:: http://seekingalpha.com/article/2426965-our-retirement-portfolio-business-plan-legacy-edition-part-two
A list of Dividend Growth Safety Superstars for the past decade is available here: http://seekingalpha.com/article/2255863-a-review-of-the-dividend-safety-superstars
I'm an asset manager at Hebba Alternative Investments with a focus on real assets. In my articles I like to focus on events that affect the macro environment for assets (especially gold and silver), and also introduce readers to different metrics that I believe are under-utilized when assessing investments.
On a more personal note, I'm a firm believer that there can be honesty, morality, and integrity in finance (though its rare) and i'd like to believe that I stick to those principles. Thus I never "pump and dump" stocks, I always list the securities we own, and I take it very seriously when I recommend a company - I do not want to see any investors/readers lose money because of my recommendations.
I'm not always right with recommendations, but investors and readers can know that I always tell the truth (there is no deception) and I eat my own cooking as recommendations are either always owned OR the reason I dont own them is given (usually related to restrictions on stocks I can buy).
Advising people in financial matters is a serious issue and integrity is much more important than money to me, but I do believe both can co-exist. You live with money, but after your death you only have your morality and integrity and thus i've made my choice between the two. A bit philosophical for a bio, but I dont think there's a better way to give investors my background than that.
We offer investors a free weekly email list detailing gold, silver, and general economic markets which you can sign up for at: http://www.communitysynergy.com/subscribe/hebbainvestments_subscribe.html
First, the good stuff. Here's my portfolio ...
Consumer Discretionary: MCD, NKE, SBUX, TGT
Consumer Staples: COST, GIS, KHC, KO, MO, PEP, PG, PM, RAI, WBA
Energy: CVX, KMI, XOM
Health: ABBV, AMGN, GILD, JNJ, MCK
Industrial: BA, DE, EMR, LMT, MMM
REITs: HCN, NNN, O, OHI, VTR
Technology: AAPL, MSFT, QCOM
Telecom: BCE, T, TU, VZ
Utilities: AVA, D, SCG, SO, WEC
ALSO: small stakes in 23 additional companies held in the Dividend Growth 50 portfolio (http://seekingalpha.com/article/2764265-its-new-its-nifty-its-the-dividend-growth-50): ADP, AFL, BAX, BDX, CAT, CL, CLX, COP, GE, GPC, HCP, HSY, IBM, KMB, MKC, NEE, SHPG, SJM, UTX, V, WFC, WMT.
Now, a little about me:
I am a 50-something former sportswriter who was sent on a permanent vacation during the Great Recession. That sucked, but my story is not a sad one. Unlike many folks who lost their jobs, I am not in financial distress, I am not depressed and I am not bored.
My wife is a pediatric nurse with a bullet-proof job and decent benefits. So after supporting her and our two kids (now grown) for most of three decades, the least she can do is support my semi-retired keister!
Because of Roberta's job situation, because we have zero debt (not even mortgage debt), because we no longer have any dependents and because we have been pretty diligent savers over the years, we are comfortable (though nowhere near rich).
Although we hold some funds, bonds and cash, my investing philosophy leans heavily toward Dividend Growth Investing. By early next decade, we want to live entirely off of our income stream, Social Security and pension payments - and therefore will not have to spend down the principal one iota. To accomplish this, we invest mostly in blue-chip companies with long track records of growing dividends. As of mid-2016, we are well ahead of pace to reach our goal.
When not researching investments and writing for Seeking Alpha and other Web sites, I coach middle-school girls basketball at Metrolina Regional Scholars Academy, the top charter school in the Charlotte metro area; in March 2016, we won the first conference championship in school history! I also umpire youth baseball and referee youth basketball.
My wife and I dote on our 5-year-old pup, Simmie, and keep up on the doings of our now-grown kids, Katie and Ben. And we love to cheer on the basketball team of our alma mater, Marquette University, where we both majored in Journalism. Go Warriors! Also big fans of the Carolina Panthers.
I still occasionally post to the blog I initiated in 2007 -- lots of sports stuff, some politics, some personal junk -- at www.TheBaldestTruth.com.
Williams Equity Research analyzes trading strategy, individual stocks, asset classes, market sectors, and risk to reward parameters in order to provide valuable insight to the Seeking Alpha community.
The author has over 10 years of experience in the financial markets working in areas of equities trading, complex product analysis, and risk management, as well as a graduate level education in the areas of petroleum engineering (full), law (partial), and finance (MBA, partial).
I am a private investor, focused on value investing through balance sheet analysis.
I am not a financial professional nor do I work predominantly in finance.
I am a Business Development professional, working to develop new offerings into strong businesses.
I am the investment manager for Darkravenwind LLC, a small software development consulting firm. 20% of our pre-tax revenue is my responsibility to invest and grow. I also help moderate the "Value Investing" group on Facebook. My hobbies include fighting the Fed, martial arts, and old video games.
I have been using value investing techniques as first described by Benjamin Graham since approximately 2006. I was wasting my life up to that point. My specialty, over and above corporate valuation, is analyzing people. Human behavior is remarkably consistent and can lead to huge gains when you understand what motivates them.
In my own portfolio I have a diversified income focus with a preference for long term earnings and dividend growth. When a good opportunity comes along, I'll focus a large percentage of assets into that single holding. I'm also maintaining an income portfolio with a little over 180 high yielding companies as a bit of an experiment.
I have been mostly self taught, but I am also working on obtaining a finance degree. Quadrupled my money in the 2008 crash, by 2012 my total portfolio was over 50,000% higher than when I had first started.
I was a previous employee at Countrywide Financial Corp., and was present during the mortgage meltdown. I saw firsthand how the company was falling apart from the inside while management continued to believe the organization could be rescued. I have made bond analysis and studying the effects of inflation an additional specialty of mine.
Market direction is irrelevant. I look for value. Profitable companies that are low or even fairly priced, so long as the results are dependable. Intrinsic value is subjective, but earnings power matters. The current dividend yield, and the number of competitors are strong factors in my decisions. I am absolutely fearless of the future and do not make political views a part of my investment process.
I additionally make frequent updates to a blog maintainted at WhoTrades called "Brand Power", you can read and subscribe to it at bandpower.whotrades.com. Live trading data on my purchases should be available at some point in the near future.
I Know First is a financial services firm that utilizes an advanced self-learning algorithm to analyze, model and predict the stock market.
Co-Founder Dr. Lipa Roitman, a scientist, with over 20 years of experience created the market prediction system. The algorithm is based on artificial intelligence, machine learning and incorporates elements of artificial neural networks as well as genetic algorithms to model and predict the flow of money between 2,000 markets from 3-days to a year: stocks, ETF's, world indices, gold, currencies, interest rates, and commodities.
The algorithm outputs a predicted trend as a number, which in turn, is used by traders to identify when to enter and exit the market. While forecasts can be used for intra-day trading, the predictability tends to become stronger over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.
Visit us at iknowfirst.com
I am a 43 year veteran of Wall Street. My first 26 years were spent on the buy-side as an institutional money manager. I have spent the last 13 years as a sell-side strategist. I am a life long contrarian who finds it easy to take positions quite apart from the crowd. I am most comfortable with my forecasts when my macro and technical analysis are in sync and when my views are at odds with the consensus. I've always been fascinated by the behavioral aspects of investing. Years of observing investor behavior has led me to the conclusion that investor psychology may be the most powerful emotional force in the universe, more powerful than love or hate. It causes otherwise rational beings to make some very irrational decisions. I think every investor should read Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay.
Retired, late 50's
Hold CFP designation. Passed CFP exam Nov 2000
Author of "IRA: A Quck Reference Guide". Available on Amazon as an e-book.
Author of "Retirement Investing for INCOME ONLY: How to invest for relaible income in Retirement ONLY from Dividends"
First of all, let me state that I am NOT a CPA, attorney, nor financial planner. I am just a relatively savvy stock investor who wants to help the general public find their way through some of the maze of stock investing.
I am 85 years young, although you might not think so from my accompanying newest picture. Yes, that is reallly me, age 84 and 11 months. I have been investing in stocks and bonds for about 60 of those years. It is now my main hobby. I invest mainly in high-yield stocks rated A- or lower down to B. I got stung a few years ago when Lehman Brothers, rated AAA, went down the tubes, costing me over $25,000, so decided to never again get involved with highly rated (over-rated) stocks that paid only small dividends. I prefer the high-yield stocks like BDCs, REITs, and MLPs from which I can get paid NOW, even though I actually expect to last another 20 years or so. I have developed my own stock investing system that I call MRHY (medium risk, high yield).
I took early retirement in 1987 from a job as manager of a Computer Systems and Programming department at a large life insurance company. I am the holder of a CDP (Certificate in Data Processing) from the Data Processing Management Association (DPMA). During my working years, I frequentlly worked closely with the company actuaries and accountants. I even took some actuarial classes to be able to work with the actuaries in their own language and skills. Those experiences, plus my computer skills and high IQ, have alllowed me to build my stock portfolio from less than $300,000 in 1987 to over $600,000 in 2007. I also have the benefits of ~95% long term retention of whatever I read or hear, which is very useful in stock market investing. I inherited $everal hundred thou$and in 2011, which I have invested in medium-risk, high-yield stocks (MRHY), so that my total stock portfolio is now well over $1.25 million.
The above Bio was posted a couple of years ago and has now (October, 2015) been updated. My stock holdings are now over $1.5 Million and my annual dividend income is now just
over $175,000. I also collect income from SSA, 3 annuities that my deceased wife and I started receiving when we retired, and a restaurant seating about 120 that I bought in November, 2014, for a total annual income of about $240,000.
Folks, if I can do it, you can too. All that it requires is a good brain with an understanding of the financial world, mathematics, and a little actuarial science, plus a high risk tolerance!
I have been investing in John Fredriksen companies since 2002 and began managing my IRA in 2004 upon retirement at age 55. While living off those funds I have since then also tripled them. I prefer dividend paying investments and usually buy and hold long term ..
born 1947. retired economic geography academic. traded mutual funds with my retirement plan into an early retirement. Currently trying to make more than I spend mostly via ETF's. I'm a Dutch Kiwi Texan.
Self directed individual investor. I surpassed my own goals and expectations. I have been investing in the stock market since 1992. I used to day trade. Then I swing traded. Now I invest in dividend stocks with the focus on having the income exceed our needed expenses. I started investing in dividend stocks exclusively in 5/2011. I am ready to share my 22 years of experience in the stock market with young investors and retirees alike. I will share my mistakes and successes. Hopefully, I can help others avoid common mistakes.
RETIREMENT PORTFOLIO UPDATED As Of 6/3/2016
Current Allocations for my Retirement Portfolio:
1) MO = 100%
I have taken ROTH distributions in 2016 of about $113,000. This is the first year that I have taken distributions, they are non taxable and penalty free.
I currently have approximately 96.5% of my stock market assets in ROTH IRA's. I will convert the rest of my MO (from my SEP IRA) in 2017 into my ROTH IRA. My plan is to have 100% of my Retirement Portfolio in ROTH IRA's after the first trading day of 2017.
My Retirement Portfolio's return since 1/1/2009 according to Schwab.com's Portfolio performance: Full Disclosure - All of my funds were at Schwab in 2009 and 2010, In 2011 I started a Roth IRA at Fidelity, in 2014 I transferred funds from Schwab to Fidelity and in 2015 I transferred some funds to E-TRADE. Most of my funds are still at Schwab.
2009- + 165.95%
2010- + 28.02%
2011- (-) 1.99%
2012- + 11.59%
2013- (-) 5.31%
2014- + 38.84%
2015- + 6.11%
2016- YTD as of 6/10/2016 close + 19.25%
My Portfolio performance from 1992 - 1/1/2009 was not good. I was starting from a negative return since I had contributed more than my accounts were worth. 2008 had dropped my account about 75%!!!
My performance has been outstanding from 1/1/2009 till the present, my overall Retirement Portfolio performance has been exceptional, beating the S&P 500 substantially. My total value has increased more than 12 fold since my bottom in 2008!!!
Schwab.com's software does not have any data prior to 1/1/2009! They started the Portfolio performance function as of 1/1/2009.
Research investment analyst for Chicago consulting firm until 2009. In this role I was the lead analyst on large 401k plans, pensions and endowments totaling over $20 billion in assets. I also headed analyst research on fixed income and hedge fund of funds portfolios. Today, I focus my research on finding value stocks with sound fundamentals and healthy cash flow. I concentrate my personal portfolio on quality dividend growth stocks and keep an active watch list of over 150 stocks to add on pull backs or at an attractive valuation.
I exited the finance industry in 2010 to follow my dream of becoming a firefighter. I now live and work in Texas. I consider myself a value investor and tend to stay away from speculation stocks.
Mr. Berger is the creator and developer of the YDP screening tool, a chart system and its analysis for screening and monitoring dividend income equity investments. The recipient of Seeking Alpha's Outstanding Performance Award, he also has been Seeking Alpha's #3 ranked Author for Income Investing Strategy & #4 for Utilities.
20 years of sitting in the board room gives me unique insights into Oil & Gas investments and corporate deal making in general. Additionally, he offers a Premium Research subscription service for boosting income while reducing market risk using covered option writing on a dividend income equity portfolio.
Residing in Brazil gives me a local's inside view on the pulse of its economy, politics, investment climate and breaking news. A view of my front yard is available here.
A former Chief Operating Officer, Director, Vice President and General Manger of Oil and Gas for Southern Pacific's Oil and Gas Operations, Business owner, geologist, and cribbage player, I've been an investor for over 48 years (started young at 13) and learned my lessons the way that makes them stick, by hard knocks and both big and little mistakes. Hopefully I can share some of those lessons with others.
I am an American expatriate that decided to retire at age 57 in 2009 and now live in Brazil. As an early retiree I invest for income and manage portfolio risk by screening for strong and reliable historic data along with favorable fundamental and technical current trends.
I spend 6 months/year living at home in Brazil and 6 months/year traveling the world. I have structured my financial positions so that I live virtually tax free with much of my income exempt from US tax since I live ex patriot and a lot of my US derived income over the annual ex-patriate exemptions is held in my tax free ROTH and tax deferred IRA/SIMPLE plans. This enables my tax savings to pay for my 6 months of annual traveling :) .
My investing is for income and appreciation with a balance of low to moderate short term risk and low long term risk. To accomplish this I use quality dividend payors with a long track record of steady or increasing dividends along with slowly appreciating equity prices. I target a 6 to 9 % yield and almost exclusively require a minimum history of 5 years of steady/increasing dividends and no decreases in dividend ever or at least past 10 years. I diversify through sector, country and currency unit the stocks are traded in, and security type (equity, royalty trust, REIT, mlp, etf, and ADRs).
I use covered call writing to enhance my portfolio yield with no added risk. In fact, it lowers the risk substantially. Once I identify a stock I want to own and an entry price for it, I write cash covered puts at or below that entry price (with a minimum of 1%/month time premium. Thus i obtain at least a 12% annualized yield before compounding just from the option premium.
Likewise, I use the sale of cash covered puts to generate income and and generally get an entry point at 5 to 10% below my acceptable entry level price if/when the put stock does get presented. Thus my strategy provides a 12% pre compound yield on cash and entry into stock purchases at a 5 to 10% discount from "retail".
Because I only select stocks that I am willing to hold long term for their reliable dividend yields of > 6%, I am not concerned much with market volatility or short/midterm risk. Indeed, market volatility is my friend since it increases the premiums paid on the options I sell. I also selectively sell covered calls on positions I hold long so as to add to my yield that way while not taking on any additional risk.
This strategy has kept me happily living off my portfolio income and traveling 1/2 the year while my portfolio has been slowly increasing in value even after my harvesting income for living expenses. Of course my income will incrementally increase when social security kicks in for me in a few more years and I may then slightly mofidy my goals and strategies.
Readers can get an e-mail once a day from Seeking Alpha that lists all newly published articles of ALL the authors they follow in a single e-mail. To get these updates:
- a - Click "Alerts" along the top menu tab (just left of the green PRO tab)
- b - Scroll all the way down, and check the box for "author alerts" (2nd box from the bottom)
- c - Then you'll be notified by Seeking Alpha once per day of new articles by all authors you follow (in a single e-mail)
Ph.D. economics and Finance MBA finance
Globe Institute of Technology
Professor – Economics and Finance, Chair of Business Department
Colorado Technical University
Adjunct Professor – courses: Applied Managerial Finance (Graduate Level), Microeconomics, International Finance
European School Of Economics (New York Campus)
Adjunct Professor – Economics (Graduate Level) Courses taught: Microeconomics
Metropolitan College of New York
Adjunct Professor – Economics, Banking and Finance
Courses taught: History of Economic Thought, Macroeconomics, Money and Financial Institutions
World Gold Council
New York, NY
• Constructed econometric models relating to gold's role as a portfolio diversifier primarily aimed at institutional investors.
• Focused on models of the embedded optionality of gold in terms of its relation to other investment assets and economic fundamentals such as inflation and business conditions.
Founder and President, Internet Startup company with polling and investment advice websites.
Fundamental Portfolio Advisors, Inc.
Chief Portfolio Strategist – President
• At the predecessor company I started the New York Muni Fund, the first single state triple tax-free municipal bond fund.
• I took the fund from a one-employee start-up where I performed every function to a family of mutual funds which had five funds with total assets above $300 million and which did all of its distribution, accounting and transfer in-house.
• I wrote the initial prospectus and was responsible for managing the portfolios of what eventually grew to be a family of 5 mutual funds.
• Was chief economist for parent company’s brokerage affiliate.
• Involved on the buy-side in the development and monitoring of various structured municipal finance products. Worked with major issuers such as New York City and major investment banks such as Merrill Lynch and Goldman Sachs.
• Designed and submitted a U.S. Patent Application for a portfolio management system for mutual funds involving derivatives.
Note: In 1996 Fundamental Portfolio Advisors and myself were subject to civil litigation by the SEC which resulted in deregistration and a permanent bar from the securities industry.
A. Gary Shilling & Co.
Senior Economist – Vice President
Economic consulting, modeling and forecasting. Both macro and micro.
• Clients included: Emerson Electric, Bethlehem Steel, Castle & Cooke, Cooper Industries and the U.S. Department of Transportation.
• I was the author of the 1979 study commissioned by the U.S. Government Interstate Commerce Commission, which calculated the expected economic impact of trucking deregulation.
White, Weld & Co, Inc.
• White, Weld was the sixth largest investment banking and brokerage firm when Merrill Lynch bought it.
• Extensive work was done on the All-American Pipeline Proposal to tap the Alaskan Gas Reserves.
• The economics department of White, Weld formed A. Gary Shilling & Co. at the time of the Merrill Lynch merger.
American Stock Exchange
New York University
June 1978 Ph.D.
• Ph.D. dual field, economics and finance.
• Doctoral dissertation was in contingency claims (options) theory
June 1973 MBA with concentration in economics and finance
NYU Engineering School
June 1971 Bachelor of Science - Nuclear Engineering Tau Beta Pi
Analysis of the Embedded Inflation Optionality in Gold Prices. World Gold Council, 2000. New York, N.Y.
The Economic Impact of Trucking Deregulation. Interstate Commerce Commission, 1979, Washington D.C.