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SDS (Seductive Dividend Stocks)

SDS (Seductive Dividend Stocks)
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  • Cash Dividends, Financial Theory And Investing For Retirement [View article]
    Thank you for good article. There are some many weak points in theory in finance that I cannot compare it with any acceptable theory in modern natural sciences.
    There are few hypotheses why company pays dividends (see e.g. Dividend Policy: Its Impact on Firm Value by Ronald C. Lease, Kose John, Avner Kalay and Uri Loewenstein)
    Yes many BoDs smooth dividends and I think it is smart to do it.
    Jan 15, 2014. 06:27 PM | Likes Like |Link to Comment
  • Why Bother Diversifying, Just Buy Berkshire Hathaway [View article]
    I'm not really familiar with BKR but from couple books I read it seems that BKR is a kind of good collection of cash cows diversified mostly within USA. Warren Buffett didn't share cash from BKR's cows with shareholders and all gains are on paper ONLY. So return on shareholder's capital invested in BKR is ZERO regardless of stock performance and time period. A shareholder can make/loose money ONLY if she stops/reduces involvement in BKR. The next fool is not my game....
    Warren Buffett is good assets allocator but he should ignore now ALL opportunities (say) below 100M$. Individual investors might find the best opportunities in micro/nano-cups ( and this is one of very few advantages small investors still have.
    Jan 15, 2014. 04:04 PM | Likes Like |Link to Comment
  • Finding Alpha In Discarded 'Dividend Growth' Stocks [View article]
    Sir John Templeton predicted some of your results when he wrote:
    "It is impossible to produce superior performance unless you do something different from the majority."

    An individual investor might include nano-caps which often missing in MFs/ETFs and which might be more profitable as you analysis indirectly shows (

    Jan 15, 2014. 10:17 AM | Likes Like |Link to Comment
  • Finding Alpha In Discarded 'Dividend Growth' Stocks [View article]
    Thank you for the follow-up good article. Turnover seems quite big probably because of too often rebalancing. BTW, rebalancing itself might not improve performance (
    Jan 15, 2014. 09:29 AM | Likes Like |Link to Comment
  • Book Review: Rule Based Investing [View article]
    Well, it sounds as next 200-pages book what promise you to become rich if you subscribe to the author service. I read couple hundred financial books and more than half of them are junk printed in about 200 pages. Why financial publishers like 200-pages books? Is it optimal between writer effort and price can be charged for the book?
    Jan 15, 2014. 08:43 AM | Likes Like |Link to Comment
  • Tech Sector DGI In An Age Of Big Bang Disruption [View article]
    DH - thank you for good article.
    Some tech fields (semiconductors, biotech) can be "moated" with patents. Of course without good management and customers such moat is often dry.
    A disruption usually doesn't happen in 1 day or 1 year, so investors have time to re-think their holdings.
    I'm not sure that we will drink Coke 100 years from now, I more sure that we will use a grandchild of PC or smartphone in XXII century.
    Jan 14, 2014. 12:37 AM | Likes Like |Link to Comment
  • Natural Resource Partners: One Response To The Distribution Cut [View article]
    Dividend Sleuth - thank you for good article.

    I decided to hold NRP (less than 1% of my portfolio, YoC>7% even after cut) but I expect full recovery of dividends in ~ 4 years which is quite typical - see

    Jan 14, 2014. 12:22 AM | Likes Like |Link to Comment
  • "The Strategic Dividend Investor" By Daniel Peris (Jan 27, 2012) [View instapost]
    Ask him 8-). Any MF manager depends on cash flows from/to investors (therefore MFs are not compatible with DGI).
    Jan 13, 2014. 08:47 PM | Likes Like |Link to Comment
  • Why Dividend Cuts Can Make Stocks Attractive [View article]
    IMO business model of PBI is OK but they were (and still is but not 100%) in kind of obsolete technology (postal service). Now they have good path to cloud service and this makes PBI attractive.
    Jan 12, 2014. 10:08 PM | Likes Like |Link to Comment
  • Why Dividend Cuts Can Make Stocks Attractive [View article]
    Cut exclude company from DG list but might transfer it into HY list
    Jan 12, 2014. 10:05 PM | Likes Like |Link to Comment
  • It's All About The Fundamentals [View instapost]
    Possibility to fix/update is a big advantage of SA blog to compare with SA article. I just did it with My 2 Cents On "Buy And Hold" blog ( which might explain why I don't use FASTGraphs
    Jan 12, 2014. 12:55 PM | Likes Like |Link to Comment
  • Why I'm A Dividend Zealot (Jan 31, 2012) [View instapost]
    Just added info about Canadian stock market from
    Jan 12, 2014. 07:48 AM | Likes Like |Link to Comment
  • Why Dividend Cuts Can Make Stocks Attractive [View article]
    Well, there are "bad" cuts and "good" cuts ( and it is profitable to buy a company after "good" cut. I hold PBI through the cut because their R&D is promising. Price, yield and payout cannot tell whole story and it is easy to be "smart" looking in rear mirror. Last Friday Natural Resource Partners LP (NRP) reduced dividends, so will you buy it?

    Disclaimer: I knew that cut might happens and decided to keep NRP. Both PBI and NRP are less than 1% each of my portfolio.

    Jan 12, 2014. 07:11 AM | Likes Like |Link to Comment
  • It's All About The Fundamentals [View instapost]
    I do not use F.A.S.T. Graphs, so I'm probably wrong but anyway again: ""IBM's current yield is 11.% and normal PE is 16.6%."
    I define current yield as dividend/stock price and it is now ~ 2% ( PE is price per earnings and Trailing P/E (ttm, intraday) =12.97 (, so E/P is ~ 7.7%.
    Jan 12, 2014. 07:00 AM | 1 Like Like |Link to Comment
  • Why Dividends Matter, Part 2 [View article]
    I do not have time to read all comments so might be idea was already proposed. Anyway:
    Dividend investor like to pint well-known result that dividend stocks outperform non-dividend stocks in long run. Being dividend investor I think this comparison might be not fair. We need to split non-dividend stocks into 2 groups: a) firms which cannot pay dividends (have negative earnings in last N years like some biotech starts-up) and b) firms which can but don't "want" pay dividends (have average positive earnings in last N years). Somebody needs to compare b)-type firms for (e,g, for N=3,5,7 years) with dividend-paying firms.

    Jan 11, 2014. 05:10 PM | Likes Like |Link to Comment