Seeking Alpha

gcmagone

gcmagone
Send Message
View as an RSS Feed
View gcmagone's Comments BY TICKER:
Latest  |  Highest rated
  • More on the BP/Rosneft TNK-BP deal: The total value of the cash and Rosneft shares BP is getting sums to $26.8B at current market prices. With a 19.75% stake, BP expects to have 2 seats on the board and to be able to put on its books its share of Rosneft's earnings, production, and reserves. The WSJ's Andrew Peaple estimates the deal will leave BP with marginally lower production, but maybe higher oil and gas reserves. [View news story]
    This looks good IF the reserves and directors part holds up.
    Oct 22 07:48 AM | 1 Like Like |Link to Comment
  • BP confirms the sale of its 50% share of TNK-BP to Rosneft for $17.1B in cash and a 12.84% stake in Rosneft. BP intends to use $4.8B of the cash to buy an additional 5.66% of Rosneft from the Russian government, giving it a 19.75% stake in the company once the deal is complete. BP +1.3% permarket. (PR[View news story]
    I quess anything is better than the former partnership with those Russian billionaires. At least BP seems to have Putin ear....that's worth a lot in that country.
    Oct 22 07:35 AM | Likes Like |Link to Comment
  • Retirement Strategy: Replacing Yield With More Yield [View article]
    PSEC will prosper no matter Vanguard's shuffling.
    Oct 21 12:56 PM | 1 Like Like |Link to Comment
  • As Bond Yields Continue To Drop, Investors Should Start Looking Elsewhere [View article]
    VFIDX is worth a look.
    Oct 21 12:49 PM | 1 Like Like |Link to Comment
  • What A Difference A Day Makes [View article]
    I too am a 1931 baby. We must be thinking alike. After the 2008 dive, I decided that in the future I would concentrate on investments that pay me a dividend or interest. No more trying to catch the next "star" for me. I found a home with the telecoms, oils, and the likes of PSEC, PCEF and a few BDC companies. As a safety net, I went with Vanguard's Wellington and corporate bond funds. So far so good.
    Oct 20 12:07 PM | Likes Like |Link to Comment
  • Sell BP: Too Many Troubles Make The Stock A Value Trap [View article]
    To Inspector: You are correct on all points. BP is slowly but surely recovering from the Mocando blowout. Their reserves are among the best. Selling BP now would be a huge mistake.
    Oct 20 11:38 AM | 3 Likes Like |Link to Comment
  • Idiot Physics And The Case For Diversification [View article]
    Thanks for the reply. I am not going to research all the CEFs. Just don't have the time or inclination. I am satisfied with the basket approach offered with PCEF and it's 8% yield.
    Oct 19 08:12 PM | Likes Like |Link to Comment
  • REITs Are Bubblicious, Especially The Dividends That Are Repetitious [View article]
    So you want yield and a safe place to park your cash? Try OHI.
    Oct 19 02:44 PM | Likes Like |Link to Comment
  • Idiot Physics And The Case For Diversification [View article]
    Adam, wouldn't the outcome be roughly the same and much simpler to just buy PCEF ?
    Oct 19 02:32 PM | Likes Like |Link to Comment
  • "Investors need to understand the growing risks of overplaying the defense card," writes AllianceBernstein's Joe Paul, exploring whether high-yield stocks are in bubble territory. It's not news they're expensive compared to past metrics, but high-yielders now make up a record 44% of the S&P 500 (on a cap-weighted basis). "As a countermeasure, (investors) may want to add more cyclical, deeper-value names." [View news story]
    My rock bottom acceptable yield is 4.5%. That's really about break-even considering inflation and tax.
    Oct 19 02:03 PM | Likes Like |Link to Comment
  • If Rosneft's preliminary agreement to buy out BP’s (BP +0.5%) stake in TNK-BP goes through, it will cement Rosneft’s position as the largest publicly traded oil producer in the world, with output of 4M bbl/day. Good for Rosneft but maybe not so good for BP, WSJ's Andrew Peaple writes, which would be left with a minority, illiquid stake in a company that pays meager dividends. But at the least, BP will find the cash useful[View news story]
    Dealing with Putin is truly Russian roulette...all chambers are loaded when it's your turn to pull the trigger. BP get's extortion in the USA and robbed in Russia. The Brits had better have a strong upper lip.
    Oct 18 07:28 PM | Likes Like |Link to Comment
  • An afternoon volatility spike in BP (BP -0.3%) shares is attributed to a WSJ report that a light oil slick of oil in the Gulf of Mexico is coming from a containment dome that was abandoned on the sea floor during efforts to stop the 2010 Deepwater Horizon oil spill. The slick is not new; last week, a lab matched the oil from a previously reported sheen to oil from the well. [View news story]
    This is just another try at getting money from a good company that had a terrible accident. ENOUGH of this extortion!!!
    Oct 18 07:22 PM | Likes Like |Link to Comment
  • The Coast Guard notifies BP and Transocean (RIG) that a new sheen of oil near the Macondo site matches the oil from the 2010 spill; the sheen could be linked with oilfield debris left on the ocean floor at the time. The sheen doesn’t pose a threat to the shoreline, but the Coast Guard tells BP and RIG they may be held financially liable for the new oil. (earlier: potential settlement[View news story]
    Romney is a shoot first guy. OK in the movies, dangerous in real life.
    Oct 11 02:51 PM | 1 Like Like |Link to Comment
  • Blinded by fat yields, investors continue to bid closed-end funds far higher than their NAVs. 66% of taxable and 73% of muni-bond funds trade above NAV now, compared to just 30% a year ago, with often the funds with the highest distributions having the highest premiums. "We believe that an excessive premium for the fund is not likely to be sustainable," says Gabelli of one of its funds. Are investors listening? [View news story]
    Thanks for your reply. I hold SRV that sells at a large premium, but pays a large distribution ( 8%+). It holds a well diversified portfolio of Master Limited Partnerships which makes it very attractive. If I sold SRV, where else could I put the money with a similar yield and portfolio?
    Oct 9 06:33 AM | Likes Like |Link to Comment
  • Drilling For Dividends With A Diversified Play In A Yield-Starved And Uncertain Market [View article]
    SRV's holdings derive their income from throughput of the pipelines,etc. not from price of the product. That's the strong point of MLP investing.
    Oct 8 07:40 PM | Likes Like |Link to Comment
COMMENTS STATS
854 Comments
523 Likes