I'm currently a resident Psychiatrist in Houston, Tx. I previously worked as an analyst in Dallas. I keep a value portfolio and speculative portfolio. In my value investing work, I use a valuation framework influenced by Joel Greenblatt, Peter Lynch, and Ben Graham. In my speculative portfolio, I speculate both long and short high-multiple momentum stocks and macro plays, using a framework influenced by George Soros, Stan Druckenmiller, and Paul Tudor Jones.
I suspect that most dividend investors are conservative by nature. I am. I don't believe I have any special talent or gift for trading, a crystal ball, or any access to insider information. Consequently, I have little expectation of prospering by consistently buying low and selling high. In fact, prior to becoming a dividend investor, my trading history boasted the opposite, buying high and selling low. Tis sad but true, over those years, I'd given more to the market than I'd taken from it. However, that's yesterday's news, and of no real interest. Of importance is that I'm patient, analytical, organized, pretty good at math, and always looking for that angle, strategy, or edge to help guarantee my continued market success. My book, The Dividend Investor's Guide, details my history, education and growth as a dividend investor and the lessons I learned along the way. It details an effective and safe overall investing philosophy, along with a discussion of several proven trading strategies designed to enhance one's portfolio's income and dividend yield.
I have a degree in Math and Science from the University of Toronto, as well as a degree in education, also from U of T.
I have traded private equity for 38 years and have developed a proprietary Price Modelling System which has provided me with consistent profitable trading success.
In partnership with my computer scientist son, Aidan Gomez, we have automated this model using neural networks, and offer a Trade Alert service that lets subscribers replicate the trades we are involved in.
Ironman is the alias of the blogger at Political Calculations, a site that develops, applies and presents both established and cutting edge theory to the topics of investing, business and economics. We should acknowledge that Ironman is either formerly or currently, and quite possibly, simultaneously employed as some kind of engineer, researcher, analyst, rocket scientist, editor and perhaps as a teacher of some kind or another. The scary thing is that's not even close to being a full list of Ironman's professions and we should potentially acknowledge that Ironman may or may not be one person. We'll leave it to our readers to sort out which Ironman might behind any of the posts that do appear here or comments that appear elsewhere on the web!
Hi readers, I'll be away this holiday weekend at my shore house. As such, all comments / requests / questions will have a delayed response. Thanks for your understanding in advance.
I am a Certified Public Accountant (CPA) and a Certified Financial Planner (CFP) (currently do not have a private practice). I have also been a member of the American Institute of Certified Public Accountants (AICPA) for 17 years (CFF as well). I am currently employed with a global accounting firm in the Northeast area (partner). I have a masters degree in accounting + legal studies. I have audit, tax, and consulting experience with entities in the following sectors: closed-end funds, energy, financials, healthcare, homebuilders, pharmaceuticals, private equity, REITs, and telecoms. I've also have experience with C-corps., estates, high net worth individuals, LLCs, LLPs, S-corps., and trusts. I am a casual individual investor. My investing fundamentals are based on both qualitative and quantitative information. By using my analytical skills, I create specific investing ideas/strategies. I am more of a longer-term investor as opposed to day-trading.
Previous Quarterly Projection Article’s Performance vs. Actual Results:
# of Projections Stated Within All Articles: 162
# of Projections PENDING: 1
# of Projections 100% Accurate or Within Range: 151
# of Projections Inaccurate or Outside of Range: 11
Projection “Within Range” Success Rate: 151 / 162 = 93.2%
Please see the list at the bottom of this profile for the details of my past projections.
Disclaimer: I cannot own and will not give an opinion on any investments my current employer has any direct or indirect professional services with (accounting, audit, tax, consulting, etc.). This mainly consists of various mutual funds and exchange traded funds (ETF's). This includes all stocks held within these particular investment vehicles. This specified list is updated monthly. As such, most large-cap stocks are "off the table" regarding my articles. All accounting insight, analysis, and opinions stated within any articles I write (in regards to a specified stock) are entirely from my own personal research and analysis. I believe my articles are both informative and in some cases educational.
NOTE: A growing number of readers/investors, analysts, and representatives of firms have requested to be provided with my "spreadsheets/models" to help better understand certain companies/sectors. My researched data is several files of 100+ spreadsheets/models containing both stocks I write about on S.A. and stocks I choose to not write about on S.A. To reduce the repeated requests to provide such data, these spreadsheets/models are ALL linked together. As such, all current and future requests to "share" my data/models will be politely declined. Thanks for your understanding regarding this subject.
I appreciate my loyal readers and I’ll continue to try to provide high quality, in-depth articles.
Commonly Asked Questions:
Question 1): If you are only paid per article, why make your articles so long / detailed?
- I like to provide the “nuts and bolts” of a company. As such, I strive for my articles to have some sort of “hard to obtain” facts / figures. From this data, I like to fully discuss / analyze specific topics within a particular stock. This mainly consists of a quarterly projection article and a series of articles on a company’s dividend sustainability. In certain instances, I also write articles in regards to specific, material events that occur during a quarter.
- I believe a company’s quarterly results and upcoming dividend declarations are two of the most important topics readers are requesting information on. My analysis takes the “average” article several steps further to allow readers to have access to information that is rare to public viewership. In doing so, I believe my articles are both beneficial and educational for most readers.
Question 2): How come you only write 1-2 articles a week (would like to see more)?
- As stated in my profile above, I have a full-time professional career. I write / analyze stocks in my “free time”. To provide these types of high quality / in-depth articles, I can’t see writing more than 2 articles a week. I believe “quality” should always be a higher priority versus “quantity”.
- As many readers should know by now (if you’ve followed me for a while), I not here for the monetary rewards. If that was the case, I’d write 5+ weekly articles and provide little to no engagement in each article’s comment section. I believe the comments section is as important as the article themselves b/c readers have a wide range of questions in relation to each article or the sector in general.
Question 3): What do you personally gain from writing these articles?
- I am not here trying to promote a company, book, or website. There’s nothing wrong with that. However, that’s just not what I’m about. I’m here for the “average Joe”.
- When I decided to write these articles, I based it on the notion I am filling a “special niche” per se. Using skills that have been built up over my professional career, my articles usually provide unique information that most writers either a) don’t have the technical expertise to provide or b) don’t bother providing due to the time it takes to compile such data. As such, I believe the S.A. community benefits from my articles. I solely do this b/c it’s a passion of mine and I like helping readers have accurate, reliable data that is not readily available. Yes, I understand this may seem “hard to believe” in this day and age. However, I believe some of my more “seasoned” followers know this aspect of my generosity / personality. Also, in the past there were numerous misstated “facts / notions” in various articles I saw being written by the stocks I currently cover. Since I began to write my articles here, these misstatements / misnomers have decreased which is good for this forum.
Question 4): How come you do not write about more stocks?
- To give readers the level of detail that I provide in my articles, I amass large amounts of data every quarter (or even weekly). As a direct result, a large amount of time is consumed by obtaining / analyzing this data. This would only increase if I expanded my researched portfolio of stocks.
- If I expanded the stocks I research, it would most likely take away the quality of other articles I currently am writing about. Again, this gets back to the “quality vs. quantity” metric.
- There is a fairly large range of stocks / investment vehicles I cannot write about / provide an opinion on due to various conflicts of interests (regarding my professional career). This is a topic I take VERY seriously. As such, I take all necessary precautions to avoid any remote possibility of a conflict of interest occurring.
NOTE: Below are the stocks I currently cover as of June 2016:
Stocks Covered In Great Detail (11 mREITs; 11 BDCs; 11 Other Sectors): ACAP (Proposed Spin-Off), ACAS, ACSF, AGNC, AINV, ANH, ARCC, ARR, CMO, CYS, FSAM, FSC, FSFR, GBDC, GOOG, GPRO, HTS, MAIN, MCC, MO, MTGE, NEWT (New) NLY, NVS, NYMT, ORC, PFAM (Proposed Spin-Off) PSEC, PM, PRIT (Proposed Spin-Off) PYLD (Proposed Spin-Off), SLRC TRP, and WMC.
Stocks Covered In Modest Detail (10 mREITs; 3 Other Sectors): AI, AMTG, BABA, EFC, IVR, JMI, MFA, MITT, NRZ (New), PHM, PMT, SLRC, TOL, TWO
Detailed Past Projection List:
NAV as of 3/31/2014: $0.01 per share variance; within range ($10.67 projected vs. $10.68 actual)
NAV as of 6/30/2014: $0.00 per share variance; 100% accuracy ($10.56 projected vs. $10.56 actual)
NAV as of 9/30/2014: $0.01 per share variance; within range ($10.48 projected vs. $10.47 actual)
NAV as of 12/31/2014: $0.01 per share variance; within range ($10.34 projected vs. $10.35 actual)
NAV as of 3/31/2015: $0.03 per share variance; within range ($10.27 projected vs. $10.30 actual)
NAV as of 6/30/2015: $0.06 per share variance; within range ($10.25 projected vs. $10.31 actual)
NAV as of 9/30/2015: $0.17 per share variance; within range but at the higher end ($10.00 projected vs. $10.17 actual)
NAV as of 12/31/2015: $0.25 per share variance; slightly outside range; lower end ($9.90 projected vs. $9.65 actual)
NAV as of 3/31/2016: $0.11 per share variance; within range ($9.50 projected vs. $9.61 actual)
Fiscal Q3 2016 NII: $0.00 per share variance; within range ($0.25 projected vs. $0.25 actual)
Dividends for Fiscal Q4 2014: Stated dividend was currently safe (no specific dividend declarations) which turned out to be correct for April 2014 – June 2014 dividends declared
Dividends for Fiscal Q1 2015: 100% accuracy (July. 2014 $0.110475 projected vs. $0.110475 actual) (Aug. 2014 $0.110500 projected vs. $0.110500 actual) (Sept. 2014 $0.110525 projected vs. $0.110525 actual)
Dividends for Fiscal Q2 2015: 100% accuracy (Oct. 2014 $0.110550 projected vs. $0.110550 actual) (Nov. 2014 $0.110575 projected vs. $0.110575 actual) (Dec. 2014 $0.110600 projected vs. $0.110600 actual)
Dividends for Fiscal Q3 2015^: (Jan. 2015 $0.110625 projected vs. $0.110625 actual) (Feb. 2015 $0.110650 projected vs. $0.0833 actual OUTSIDE RANGE) (Mar. 2015 $0.110675 projected vs. $0.0833 actual OUTSIDE RANGE)
^ = Correctly stated dividend would be cut. However, PSEC reduced dividends beginning in February 2015 and I projected the dividend decrease would occur in April 2015 (2 months earlier than projected)
Dividends for Fiscal Q4 2015: (April. 2015 was declared in December 2014 prior to my analysis for this quarter) 100% accuracy (May 2015 - June 2015 $0.0833 projected vs. $0.0833 actual)
Dividends for Fiscal Q1 2016: 100% accuracy (July 2015 - September 2015 $0.0833 projected vs. $0.0833 actual)
Dividends for Fiscal Q2 2016: 100% accuracy (October 2015 - December 2015 $0.0833 projected vs. $0.0833 actual)
Dividends for Fiscal Q3 2016: 100% accuracy (January 2016 - March 2016 $0.0833 projected vs. $0.0833 actual)
Dividends for Fiscal Q4 2016: 100% accuracy (April 2016 - June 2016 $0.0833 projected vs. $0.0833 actual)
Dividends for Fiscal Q1 2017: 100% accuracy (July 2016 - August 2016 $0.0833 projected vs. $0.0833 actual) (September 2016 = PENDING)
BV as of 6/30/2013: $0.11 per share variance; within range ($25.40 projected vs. $25.51 actual)
BV as of 9/30/2013: $1.36 per share variance; MATERIALLY OUTSIDE RANGE ($26.63 projected vs. $25.27 actual)
BV as of 12/31/2013: $0.58 per share variance; within range lower end ($24.51 projected vs. $23.93 actual)
BV as of 3/31/2014: $0.04 per share variance; within range ($24.45 projected vs. $24.49 actual)
BV as of 6/30/2014: $0.66 per share variance; within range higher end ($25.60 projected vs. $26.26 actual)
BV as of 9/30/2014: $0.35 per share variance; within range ($25.19 projected vs. $25.54 actual)
BV as of 12/31/2014: $0.29 per share variance; within range ($25.45 projected vs. $25.74 actual)
Comprehensive Income for Q1 2015: $0.02 per share variance; within range ($0.48 per share projected vs. $0.46 per share actual)
BV as of 3/31/2015: $0.11 per share variance; within range ($25.64 projected vs. $25.53 actual)
BV as of 6/30/2015: $0.24 per share variance; within range ($24.24 projected vs. $24.00 actual)
BV as of 9/30/2015: $0.44 per share variance; within range lower end ($23.44 projected vs. $23.00 actual)
BV as of 10/31/2015: $0.06 per share variance; within my monthly $0.30 per share range ($22.98 projected vs. $23.04 actual)
BV as of 11/30/2015: $0.27 per share variance; within my monthly $0.30 per share range ($22.25 projected vs. $22.52 actual)
BV as of 12/31/2015: $0.01 per share variance; within range ($22.60 projected vs. $22.59 actual)
BV as of 1/31/2016: $0.01 per share variance; within range ($22.39 projected vs. $22.40 actual)
BV as of 2/29/2016: $0.09 per share variance; within range ($22.82 projected vs. $22.73 actual)
BV as of 3/31/2016: $0.16 per share variance; within range ($22.25 projected vs. $22.09 actual)
Dividend for Q1 2013: $0.00 per share variance; 100% accuracy ($1.25 projected vs. $1.25 actual)
Dividend for Q2 2013: Correctly stated dividend cut would occur; $0.15 per share variance; within range higher end ($0.90 projected vs. $1.05 actual)
Dividend for Q3 2013: Correctly stated another dividend cut would occur; $0.10 per share variance; within range ($0.90 projected vs. $0.80 actual)
Dividend for Q4 2013: Correctly stated another dividend cut would occur; $0.05 per share variance; within range ($0.60 projected vs. $0.65 actual)
Dividend for Q1 2014: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.65 projected vs. $0.65 actual)
Dividend for Q2 2014: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.65 projected vs. $0.65 actual)
Dividend for Q3 2014: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.65 projected vs. $0.65 actual)
Dividend for November 2014 - April 2015: Correctly stated dividend would be stable; 100% accuracy ($0.22 projected vs. $0.22 actual)
Dividend for May 2015: Company declared dividend several weeks ahead of schedule; prior to my quarterly dividend sustainability analysis. As such, no dividend projection was provided for May 2015:
Dividend for June 2015 - August 2015: Correctly stated dividend would be stable; 100% accuracy ($0.20 projected vs. $0.20 actual)
Dividend for September 2015*: INCORRECTLY stated dividend would modestly reduced; ($0.18 projected vs. $0.20 actual)
Dividend for October and November 2015: Not provided but stated increased risk to reduction by end of 2015 / early 2016.
Dividend for December 2015**: Stated dividend would be stable; highest probability ($0.20 projected vs. $0.20 actual)
Dividend Declaration for January 2016: Not provided due to time constraints.
Dividend for February 2016 - June 2016: Correctly stated dividend would be stable; 100% accuracy ($0.20 projected vs. $0.20 actual)
BV as of 12/31/2013***: $0.40 per share variance; within range lower end ($21.87 projected vs. $21.47 actual)
BV as of 3/31/2014***: $0.16 per share variance; within range ($21.94 projected vs. $21.78 actual)
BV as of 6/30/2014***: $0.13 per share variance; within range ($22.60 projected vs. $22.73 actual)
BV as of 9/30/2014***: $0.29 per share variance; within range ($21.95 projected vs. $22.24 actual)
BV as of 12/31/2014***: $0.19 per share variance; within range ($22.10 projected vs. $21.91 actual)
BV as of 3/31/2015***: $0.20 per share variance; within range ($21.80 projected vs. $22.00 actual)
BV as of 6/30/2015***: $0.30 per share variance; within range ($22.00 projected vs. $21.70 actual)
BV as of 9/30/2015***: $0.17 per share variance; within range ($20.10 projected vs. $19.93 actual); excluding "one-time" ($0.20) per share impairment charge related to RCS; $0.03 per share variance ($20.10 projected vs. $20.13 actual; excluding impairment charge).
BV as of 12/31/2015***: $0.16 per share variance; within range ($19.50 projected vs. $19.66 actual)
BV as of 3/31/2016***: $0.22 per share variance; within range ($19.25 projected vs. $19.03 actual)
Dividend for Q3 2013***: Correctly stated dividend would be modestly cut; $0.00 per share variance; 100% accuracy ($0.70 projected vs. $0.70 actual)
Dividend for Q4 2013***: Correctly stated dividend would be slightly cut; $0.00 per share variance; 100% accuracy ($0.65 projected vs. $0.65 actual)
Dividend for Q1 2014***: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.65 projected vs. $0.65 actual)
Dividend for Q2 2014 - Q4 2014***: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.65 projected vs. $0.65 actual)
Dividend for Q1 2015***: INCORRECTLY stated dividend would be stable; ($0.15) per share variance; ($0.65 projected vs. $0.50 actual) In my opinion, the severity of this cut was very disappointing.
Dividend for Q2 2015***: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.50 projected vs. $0.50 actual)
Dividend for Q3 2015***: INCORRECTLY stated dividend would be stable; ($0.10) per share variance; ($0.50 projected vs. $0.40 actual) In my opinion, the severity of this cut was very disappointing once again.
Dividend for Q4 2015 - Q2 2015***: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.40 projected vs. $0.40 actual)
BV as of 3/31/2014***: $0.10 per share variance; within range ($12.40 projected vs. $12.30 actual)
BV as of 6/30/2014***: $0.43 per share variance; SLIGHTLY OUTSIDE RANGE higher end ($12.80 projected vs. $13.23 actual)
BV as of 9/30/2014***: $0.07 per share variance; within range ($12.95 projected vs. $12.88 actual)
BV as of 12/31/2014***: $0.15 per share variance; within range ($12.95 projected vs. $13.10 actual)
BV as of 3/31/2015***: $0.32 per share variance; SLIGHTLY OUTSIDE RANGE; lower end ($13.20 projected vs. $12.88 actual)
BV as of 6/30/2015***: $0.17 per share variance; within range ($12.15 projected vs. $12.32 actual)
BV as of 9/30/2015***: $0.16 per share variance; within range ($12.15 projected vs. $11.99 actual)
BV as of 12/31/2015***: $0.13 per share variance; within range ($12.60 projected vs. $12.73 actual) (most of the variance was in relation to the accretive effect of Q4 2015 share repurchases)
BV as of 3/31/2016***: $0.04 per share variance; within range ($11.65 projected vs. $11.61 actual)
Dividend for Q1 2014 - Q1 2015***: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.30 projected vs. $0.30 actual)
Dividend for Q2 2015***: INCORRECTLY stated dividend would be reduced; $0.05 per share variance; ($0.25 projected vs. $0.30 actual)
Dividend for Q3 2015 - Q2 2016***: Correctly stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.30 projected vs. $0.30 actual)
NAV as of 3/31/2013: $0.03 per share variance; within range ($9.87 projected vs. $9.90 actual)
NAV as of 6/30/2013: $0.04 per share variance; within range ($9.94 projected vs. $9.90 actual)
NAV as of 9/30/2013: $0.01 per share variance; within range ($9.86 projected vs. $9.85 actual)
NAV as of 12/31/2013: $0.00 per share variance; 100% accuracy ($9.85 projected vs. $9.85 actual)
NAV as of 3/31/2014: $0.00 per share variance; 100% accuracy ($9.81 projected vs. $9.81 actual)
NAV as of 6/30/2014: $0.06 per share variance; within range lower end ($9.77 projected vs. $9.71 actual)
NAV as of 9/30/2014: $0.01 per share variance; within range ($9.65 projected vs. $9.64 actual)
NAV as of 12/31/2014: $0.37 per share variance; MATERIALLY OUTSIDE RANGE ($9.54 projected vs. $9.17 actual)
NAV as of 3/31/2015: $0.21 per share variance; OUTSIDE RANGE ($8.97 projected vs. $9.18 actual)
NAV as of 6/30/2015: $0.00 per share variance; 100% accuracy ($9.13 projected vs. $9.13 actual) (projections + article were provided to certain interested parties outside S.A.)
NAV as of 9/30/2015: $0.05 per share variance; within range ($8.95 projected vs. $9.00 actual) (projections + analysis were provided to certain interested parties; did not have enough time to provide an article)
FSC’s Dividend Sustainability Analysis Through Fiscal Q3 2013: Stated moderate to material dividend cut is needed; 100% accurate because company cut dividend beginning in December 2013
Dividend for Fiscal Q3 2015****: Correctly stated very low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (April 2015 $0.06 projected vs. $0.06 actual) (May 2015 $0.06 projected vs. $0.06 actual) (June 2015 $0.06 projected vs. $0.06 actual)
Dividend for September - February 2016****: Correctly stated very low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (September 2015 $0.06 projected vs. $0.06 actual) (October 2015 $0.06 projected vs. $0.06 actual) (November 2015 $0.06 projected vs. $0.06 actual) (December 2015 $0.06 projected vs. $0.06 actual) (January 2016 $0.06 projected vs. $0.06 actual) (February 2016 $0.06 projected vs. $0.06 actual)
NAV as of 12/31/2013: $0.12 per share variance; within range lower end (wider range b/c first full quarter of operations) ($15.22 projected vs. $15.10 actual)
NAV as of 3/31/2014: $0.03 per share variance; within range ($15.13 projected vs. $15.10 actual)
NAV as of 6/30/2014: $0.01 per share variance; within range ($15.14 projected vs. $15.13 actual)
NAV as of 9/30/2014: $0.02 per share variance; within range ($12.63 projected vs. $12.65 actual)
NAV as of 12/31/2014: $0.10 per share variance; within range (at lowest end) ($12.635 projected vs. $12.534 actual)
NAV as of 3/31/2015: $0.08 per share variance; within range ($12.38 projected vs. $12.46 actual)
NAV as of 6/30/2015: $0.15 per share variance; within range (at lowest end) ($12.38 projected vs. $12.23 actual)
NAV as of 9/30/2015: $0.18 per share variance; within range (at higher end) ($11.93 projected vs. $12.11 actual)
NAV as of 12/31/2015: Not provided to readers due to the fact the company "pre-announced" NAV prior to my quarterly projection analysis (due to a material reduction)
NAV as of 3/31/2016: $0.17 per share variance; within range (at higher end) ($11.01 projected vs. $11.18 actual)
Dividend Declaration for December 2015 - February 2016: Correctly stated very low probability (10%) for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (December 2015 $0.075 projected vs. $0.075 actual) (January 2016 $0.075 projected vs. $0.075 actual) (February 2016 $0.075 projected vs. $0.075 actual)
Dividend Sustainability Analysis Through Q4 2013: Stated material dividend cut was needed as soon as the next quarter; 100% accurate because company cut dividend in Q1 2014 from $0.80 per share (regular dividend portion) to $0.67 per share.
Dividend for Q4 2014*****: Stated dividend would be stable; $0.00 per share variance; 100% accuracy ($0.70 projected vs. $0.70 actual)
Dividend for Q1 2015***: Stated dividend would be "relatively" stable; accurate because company only cut its dividend by ($0.03) per share which, when calculated, was only a "minor" (< 5%) reduction
Dividend for Q2 2015***: Stated heightened risk for another minor - modest dividend reduction; accurate because company cut its dividend by ($0.03) per share which, when calculated, was another "minor" (< 5%) reduction
Dividend for Q3 2015: Correctly stated dividend would be modestly cut; $0.00 per share variance; 100% accuracy ($0.60 projected vs. $0.60 actual
Dividend for Q3 2015*****: Stated dividend had a modest to high probability (50% - 75%) of being reduced; 100% accurate because company reduced monthly dividends from $0.18 per share to $0.14 per share beginning in July 2015.
Dividend for August 2015 - June 2016: Correctly stated each month dividend would be stable; 100% accuracy ($0.14 projected vs. $0.14 actual)
BV as of 9/30/2015: $0.05 per share variance; within range ($11.63 projected vs. $11.69 actual)
BV as of 12/31/2015: $0.09 per share variance; within range ($11.74 projected vs. $11.65 actual)
BV as of 3/31/2016: $0.09 per share variance; within range ($11.10 projected vs. $11.01 actual)
Dividend Declaration for Calendar Q2 2015****: Correctly stated low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (April 2015 $0.175 projected vs. $0.175 actual) (May 2015 $0.175 projected vs. $0.175 actual) (June 2015 $0.175 projected vs. $0.175 actual).
Dividend Declaration for September - November 2015: Correctly stated very low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (September 2015 $0.175 - $0.18 projected vs. $0.180 actual) (October 2015 $0.175 - $0.18 projected vs. $0.180 actual) (November 2015 $0.175 - $0.18 projected vs. $0.180 actual).
Special Periodic Dividend Declaration for 2015: Correctly stated high probability of a special periodic dividend paid in December 2015; exactly at my projected mean: ($0.25 - $0.30 projected vs. $0.275 actual).
Dividend Declaration for December 2015 - February 2016: Correctly stated very low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (December 2015 $0.18 projected vs. $0.180 actual) (January 2016 $0.18 projected vs. $0.180 actual) (February 2016 $0.18 projected vs. $0.180 actual).
Dividend Declaration for March 2016 - May 2016: Correctly stated very low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (March 2016 $0.18 - $0.185 projected vs. $0.180 actual) (April 2016 $0.18 - $0.185 projected vs. $0.180 actual) (May 2016 $0.18 - $0.185 projected vs. $0.180 actual).
Dividend Declaration for June 2016 - August 2016: Correctly stated very low risk for a dividend reduction; dividend would be stable; $0.00 per share variance; 100% accuracy (June 2016 $0.18 - $0.185 projected vs. $0.180 actual) (July 2016 $0.18 - $0.185 projected vs. $0.180 actual) (August 2016 $0.18 - $0.185 projected vs. $0.180 actual).
Special Periodic Dividend Declaration for First-Half 2016: Correctly stated high probability of a special periodic dividend paid in June 2016; exactly at my projected mean: ($0.25 - $0.30 projected vs. $0.275 actual).
Q4 2015 Adjusted Diluted EPS: $0.00 per share variance; 100% accuracy ($0.67 projected vs. $0.67 per share actual)
* = Stated there was a 60% probability dividend would be reduced to $0.18 per share; a 30% probability dividend would remain stable at $0.20 per share
** = Stated there was a 45% probability dividend would be reduced to $0.16 - $0.19 per share
*** = Provided within an AGNC article
**** = Provided within a PSEC article
***** = Provided within a NLY article
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.
Author of Tipswatch.com blog, David Enna is a long-time journalist based in Charlotte, N.C. A past winner of two Society of American Business Editors and Writers awards, he has written on real estate and home finance, and is an online producer on a newspaper Website.
The Tipswatch blog, which launched in April 2011, explores ideas, benefits and cautions about Treasury Inflation-Protected Securities, which David believes are an under-appreciated and under-used investment. David has been investing in TIPS since 1998.
Larry Kummer has 37 years experience in the finance industry in a variety of roles. From 1994 to 2013 he was at UBS, the last 15 years as a senior portfolio manager and Vice President of Investments. He has most of the major licenses at FINA, plus those for commodities and insurance.
His articles are widely reposted. Those about economics & finance appear at Roubini’s Economonitor, Investing.com, OilPrice.com, Wolf Street, and (of course) Seeking Alpha. Those about climate change appear at websites such as Climate Etc (of eminent climate scientist Judith Curry). Those about geopolitics have been posted at Martin van Creveld’s website and elsewhere.
See his articles about the 2007-08 crash here: http://fabiusmaximus.com/financial-crisis/
Seeing the real estate crash coming, he began writing in Nov 2007. He called the recession in early 2008 (a controversial call then). Like everybody else, he didn't anticipate the depth of the crash in late 2008 -- although accurately reporting as it happened.
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.
Wall Street Breakfast, Seeking Alpha's flagship daily business news summary, is a one-page summary that gives you a rapid overview of the day's key financial news. It's designed for easy readability on the site or by email (including on mobile devices), and is published before 7:00 AM ET every market day.
Wall Street Breakfast readership of over 900,000 includes many from the investment-banking and fund-management industries.
Sign up here to receive the Wall Street Breakfast in your inbox every business day: http://seekingalpha.com/account/email_preferences
I am publishing Instablogs focusing only on six general topics.
1. Regional Banks Basket Strategy
2. Equity REIT Basket Strategy
3. Healthcare Basket Strategy
4. CEF Portfolio Basket Strategy
5. Bonds and Equity Preferred Stock Basket Strategy
6. Portfolio positioning and management
I am not receiving compensation from SA or anyone else for my Instablogs and articles published at SeekingAlpha. I have never received any compensation for the posts published at my blog website. I am simply passing on what I have learned as an investor over 4+ decades free of charge.
In all of my 2000+ posts since early October 2008, the primary purpose was to provide a framework for rational and fact based investment decision making that will hopefully reduce the number of errors made.
My most basic investment strategy is to focus on income generating securities and then to invest the cash flow into more of the same, creating a compounding impact over a long period of time. I will invest in securities throughout the capital structure on a worldwide basis.
I am now and have always been a cautious total return investor (income + capital appreciation).
A focus on income generation simply means that income generation through interest or dividend payments is an important part of my total return objective.
I am no longer in an asset accumulation mode. Capital preservation is more important than capital appreciation.
Income generation is only one aspect of an objective evaluation of potential rewards balanced against potential risks.
After several decades of "turtle" investing, which sometimes requires me to pull my head back into the shell and to cease foraging in stock land (e.g. 1999), I am now admittedly absurdly diversified due largely to one of my risk management techniques that limits my monetary exposure to the securities of a single company.
My monetary exposure is largely dictated by a balancing of potential risks and rewards taking into consideration income generation and potential for capital appreciation.
As a risk control trading technique and in furtherance of my capital preservation emphasis, I will frequently use the natural volatility of a security to gradually build up a position, selling the highest cost shares on price spikes and buying back those shares when the purchase is lower than my average cost per share usually by more than 5%. The general idea is to lower my average cost per share over time with tax efficient share dispositions, thereby increasing my dividend yield for the remaining shares.
I have also been a practitioner of dynamic or tactical asset allocation that will be driven by my big picture views, including my Vix Asset Allocation Model, as well as my opinions about the relative risks and opportunities of various asset classes.
I was born in 1951, and started to invest in stocks when I was 16. I am not a financial advisor, but simply an individual investor who has been managing my own money for my adult life starting when I was a teenager. All of my brokerage accounts are cash accounts. I have never bought stock on margin. I have not added money to any of these accounts since 1984 and have used those accounts to fund my annual IRA contributions.
I started my web site, Stocks & Politics, in October 2008 to do whatever I can to help individuals become better investors, which requires a lot of hard work and effort. After over 2000+ blogs, mostly long ones, I came to a realization that my time consuming and laborious efforts have been mostly futile and have been rewarded at best with faint praise. I will no longer be posting there.
I would still emphasize that it is important for individuals to become as knowledgeable as possible before making any decision, with every individual taking full responsibility for their investment decisions and to prepare accordingly, which is what I try to do.
The Twitter Generation will need IMO far greater investment skills than previous generations given what I now perceived about future U.S. economic conditions.
My husband plans to retire in 4 years (at age 67) and I plan to retire in 7 years (at age 62). We began focusing on dividend growth investing in 2013 but have been invested in mutual funds for decades. Our current DGI retirement portfolio is comprised of the following 64 DGI stocks: ABBV, ABT, AMGN, AVA, BBL, BMY, CAT, CBRL, CCP, CLX, CMCSA, COP, CVX, D, DEO, DLR, DUK, ED, EMR, EPD, GAS, GE, GILD, GIS, HCP, IBM, JNJ, KHC, KMB, KMI, KO, LMT, LNT, MCD, MMM, MMP, MO, MRK, MSFT, NEE, NOK, O, OHI, OMI, PEP, PFE, PG, PM, SCG, SEP, SO, SYY, T, TUP, UL, UPS, VTR, VZ, WEC, WMT, WPC, XEL, XOM, and ZBH.
I am a dividend growth investor from Europe. I'm building a portfolio of high-quality European dividend growth stocks that I intend to hold on to for as long as possible to provide me with passive income. I am on a path to financial independence. Follow me at www.bitesizedincome.com.
Dave Fish is Executive Editor for The Moneypaper and co-manager (since 1999) of the MP 63 Fund (Symbol: DRIPX), a fund that invests exclusively in companies that offer Direct Investment (or Dividend Reinvestment) Plans. He is also the author of the U.S. Dividend Champions spreadsheet (and PDF), which is updated at the end of each month...and lists companies that have increased their dividend payout for at least 25 consecutive years. (Separate tabs list "Contenders" that have increased their payouts for 10-24 years and "Challengers" that have increased their payouts for 5-9 years.) http://dripinvesting.org/Tools/Tools.asp
Right now I am a full time engineer and a part time investor. I love the investing process and look forward to sharing my ideas and discussing with you in my posts.
My investing philosophy is based on a combination of Warren Buffett, Charlie Munger, Joel Greenblatt, and Lou Simpson.
“All intelligent investing is value investing – acquiring more than you are paying for. You must value the business in order to value the stock,” Charlie Munger
I'm a retired ex-university-professor and software entrepreneur who is enjoying learning to manage a diverse portfolio focused almost entirely on producing income. I get a great deal of really actionable information from Seeking Alpha which is why I read its articles religiously. I've begun writing a series of articles for SA that chronicle my learning how to be a wise investor in the hope that other investors, particularly retirees, will be able to profit from my mistakes.
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!
The Parsimony community is made up of thousands of do-it-yourself dividend and income investors working toward one common goal...generating consistent income!
Our strategy is simple:1. Buy great dividend stocks at reasonable prices.2. Enhance income with conservative option strategies.3. Manage risk through diversification and exit strategies.
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I am an independent investor writing at Scott's Investments (http://www.scottsinvestments.com). My site is dedicated to discussing and publicly tracking historically successful investments strategies and sharing free investment resources. I emphasize empirical, historical, and quantitative analysis, portfolio strategies for individual investors and technical analysis.
I have quickly become a highly-rated site on Investimonials, http://www.investimonials.com/blogs/reviews-scottsinvestmentsgmailcom.aspx
I am the Executive VP of Zacks Investment Research in charge of Zacks.com and all its services for individual investors. I have a top down investment approach with a focus on value and upward earnings estimate revisions. And there is nothing I enjoy more than sharing insights with fellow investors.
Brandon Matthews (pseudonym) is the founder of SatwavesPro.com, which was borne of his desire to help retail investors after witnessing the continually changing ways that Wall Street can cheat them. Brandon has worked for Monroe Parker Investment Bankers, Morgan Stanley Dean Witter, American Express Financial Advisors, David Lerner Associates and a private equity firm as a stock and bond broker.
Brandon held Series 7, 63, 65, 31, Life, Health, Variable Annuity and Variable Life Securities and Insurance Licenses and was a registered investment advisor in New York, New Jersey, Florida and Connecticut.
Brandon combines an expertise in point & figure technical analysis with basic fundamental research to provide actionable recommendations.
Brandon is a Gold Level Contributor to Seeking Alpha and a top ranked author, had a significant role as an expert in the documentary Stock Shock, and is working on his first book.
Mike Konczal, a former financial engineer, is a fellow with the Roosevelt Institute, working on financial reform, the 21st century economy, structural unemployment, inequality, risk sharing, consumer access to financial services and more generally what it means to have a social contract in a financialized, post-industrial economy. His work has appeared at The Atlantic Monthly’s Business Channel, NPR’s Planet Money, Baseline Scenario, Seeking Alpha, Huffington Post and The Nation. Originally from Chicago, he enjoys finance, economics, sociology, theory, tacos and center-left politics on the side.
Robert Freedland is a medical professional by trade and an amateur investor who has been blogging on Stock Pick Bob's Advice since 2003. He has been investing in the stock market for 46 years, having made his first purchase at the age of 13 of five shares of Global Marine in September 1967. He enjoys sharing his philosophy and perspective on investing, both by blogging and podcasting. Visit Bob's blog: Stock Pick Bob's Advice (http://bobsadviceforstocks.tripod.com/bobsadviceforstocks/). Since 2009, he has been managing portfolios on Covestor, which now include Growth and Momentum (http://covestor.com/robert-freedland/growth-and-momentum), Sustained Momentum (http://covestor.com/robert-freedland/sustained-momentum), Healthcare (http://covestor.com/robert-freedland/healthcare) and Large Cap Momentum (http://covestor.com/robert-freedland/large-cap-momentum).
Dr. Kris has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her satisfaction), she decided to tackle something even more difficult—the stock market.
Applying the scientific method along with an insatiably curious mind, she began trading stocks, futures, and options in order to find the holy grail to market success. She's discovered to her immense satisfaction that not only is there one way to succeed but many. Combining her love of cooking with the stock market, she's devised recipes for investment success designed to please the palate of most investors. Dr. Kris currently manages a private equity long/short portfolio and writes of her current research projects that appear on her website, StockMarketCookBook.com.
Her most exciting project is applying market timing models to Modern Portfolio Theory to not only give greater returns but at substantially lower levels of risk. (See PortfolioPreserver.com for further information.)
MagicDiligence provides useful, simple, and effective stock screening tools inspired by Joel Greenblatt's Magic Formula® Investing methodology. Our Spells give value and growth investors a list of great stock candidates every day, and our advanced Spell Caster lets you create the Magic-style stock screen you've always wanted! Learn more about our exclusive set of investing tools today!
Alan Brochstein, CFA, was the first investment professional to devote himself to sharing his observations about the cannabis industry from an investor's perspective publicly. He runs 420 Investor, a subscription-based due diligence platform for investors interested in the publicly-traded cannabis stocks and is also the founder of New Cannabis Ventures, a content aggregation site focused on investors and entrepreneurs in the cannabis industry.
Alan has worked in the securities industry since 1986, primarily with the responsibility for managing investments in institutional environments until he founded AB Analytical Services in 2007 in order to provide independent research and consulting to registered investment advisors. In addition to advising several different hedge funds and investment managers, including Friedberg Investment Management, where he participated as a member of its investment management committee, Alan was also a senior analyst for the independent research firm Management CV. In 2008, he began providing a first-of-its-kind subscription-based service for individual investors, Invest By Model, which offered two different portfolios that investors could replicate in their own accounts for $20 per month. Alan also offered The Analytical Trader at Marketfy, where he used fundamental and technical analysis in a disciplined process to offer specific trade ideas geared towards swing traders.
Alan launched www.420Investor.com in late 2013 as the premier source of information for "Green Rush" investors seeking to capitalize on the proliferation of legalized medical and recreational cannabis. In March 2014, Alan, who is a member of the National Cannabis Industry Association, began to focus solely on the cannabis sector. He launched www.NewCannabisVentures.com in late 2015.
You can follow Alan on Facebook (www.facebook.com/420investor) or on Twitter (https://twitter.com/Invest420). Alan also moderates a large LinkedIn group focused on the cannabis industry, Cannabis Investors & Entrepreneurs (https://www.linkedin.com/groups/6523904)
Seeking Alpha readers, please enjoy a Complimentary Trial to our Premium content: http://wallstcheatsheet.com/premium/
Only days after the S&P 500 crashed to the depths of hell at 666, the Hoffman brothers launched Wall St. Cheat Sheet: one of the fastest growing financial media sites on the web. Like a samurai, our mission is to cut through the bull and bear sh** with extraordinary insights, a fresh voice, and razor-sharp wit. We provide the highest quality education and information for active investors and financial professionals. We are official contributors to Yahoo Finance, CNNMoney, the Chicago Mercantile Exchange, Business Insider, The Huffington Post, Minyanville, SeekingAlpha, and Zero Hedge. Our work has been cited in top finance and trading outlets such as The Wall Street Journal, MarketWatch, Financial Times, The Big Picture, Real Clear Markets, The Atlantic, Business Insider, The Huffington Post, Infectious Greed, DealBreaker, CBS MoneyWatch, Kiplinger, Investment Postcards, ZeroHedge, Business Pundit, TraderFeed, The Kirk Report, AbnormalReturns, and more.
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Damien Hoffman, Esq. decided to launch a financial website and exclusive subscription-based newsletter after achieving a 63% return versus a -48% return for the S&P over a nearly two year time frame as a co-founder of popular stock blog SmartGuyStocks (member of the Forbes Business and Finance Blog Network, and certified by Seeking Alpha). Mr Hoffman is currently Editor-in-Chief of Wall St. Cheat Sheet and trades full-time. After graduating early with honors from Duke University, he raised private equity with friends during the late Nineties to launch a successful start-up. Mr. Hoffman went on to work for boutique sports investment bank Inner Circle LLP where he worked on the sale of the NBA franchise New Jersey Nets to Brooklyn real estate development firm Forest City Ratner Companies (NYSE: FCE-A). Mr. Hoffman also graduated with honors from the University of Miami School of Law as a Dean’s Merit Scholar. He clerked at the Florida Supreme Court for the Honorable Justice Kenneth Bell and Central Staff. In 2006 at Harvard Law School he gave a guest lecture entitled, “Business and Law in the New Independent Music Industry.”
Derek Hoffman joined efforts with his brother to launch Wall St. Cheat Sheet after a decade of investing experience and outperforming the S&P 500 over the past 5 years. Mr. Hoffman is currently the CEO of Wall St. Cheat Sheet and trades full-time. He is a regular contributor to CNNMoney. His long-term investments and short-term trades have yielded extraordinarily successful results: double digit annual returns. Mr. Hoffman has handled media investment and tactical strategy planning for Procter & Gamble and Gillette’s national asset portfolio. He has also worked in private wealth management for Morgan Stanley. Mr. Hoffman graduated early from the University of Michigan’s world class economics department.
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