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
I write about dividend growth stocks on my website www.dividendgrowthinvestor.com.
I am mostly a buyer of high quality dividend stocks, with solid competitive advantages. My holding period is forever, as long as the dividend is at least maintained. I tend to concentrate my efforts on stocks which grow earnings and dividends, which provides outstanding total returns over time. I only focus my attention to stocks with sustainable dividend payments. I am also a firm believer in diversification accross sectors and geographic locations.
I have been focusing my attention particularly to companies that regularly increase dividends to their shareholders on my website. On my blog I share my thoughts on investing in dividend paying stocks that have consistently increased their payments over time and tips on growing my dividend income. I hope that my blog will serve as an inspiration for my readers and that it would change their financial lives for the better.
Visit my website, Dividend Growth Investor (http://www.dividendgrowthinvestor.com/)
I'm a computer programmer and teacher of computer programming. I am self-employed, and manage my own SEP/IRA and investments for retirement.
My personal investing goal is to own a portfolio of dividend growth companies such that:
1) The overall portfolio dividend income is sufficient to pay for all of my routine retirement expenses. I do not ever want to be forced to sell something to produce cash, especially when my asset prices are down. [I have no objection to occasionally choosing to sell something to pay for a one-time expense such as a vacation or a gift.]
2) The overall portfolio dividend income rises each year by more than the rate of inflation, so that my purchasing power does not erode over time.
I invest primarily in David Fish's lists of Dividend Champions, Dividend Contenders, and Dividend Challengers. See http://www.dripinvesting.org/tools for those lists.
I do not invest in MLP's or BDC's or CEF's or preferreds.
I maintain a free web site that contains dividend histories for all of David Fish's Dividend Champions, Contenders and Challengers: http://www.tessellation.com/dividends
Retired at age 60, currently age 62. Living off pensions and social security. I do not intend to draw on dividends before 2017. Portfolio positions as of 8 October 2016. Portfolio yield 3.64%.
The stock performance for each stock was extracted from FastGraphs on the day that I filed by Proxy Vote or when the stock was added to my portfolio which ever was sooner. Depending when the person bought the stock their stock, the Personal Rate of Return (PRR) would be different. For example a stock with low 2 year price return could actually have a much higher PRR.
Symbol : Yield % : 5 yr price perf : 2 yr price perf : Rating : % Portfolio
AAPL : 2.1300 : 18.50% : 24.6% : AA+ : 0.80%
ABBV : 3.5300 : 22.90% : 12.48% : A : 1.14%
ABC : 1.5800 : 23.59% : 22.82% : A- : 0.15%
ABT : 2.4000 : 10.45% : 8.85% : A+ : 0.59%
ACN : 1.9200 : 15.87% : 13.57% : A+ : 0.17%
ADP : 2.3700 : 12.81% : 3.52% : AA : 0.19%
AEP : 3.4400 : 15.80% : 15.45% : BBB : 0.45%
AFL : 2.2300 : 7.24% : 6.04% : A- : 0.28%
AGN : 0.0000 : 32.09% : 5.34% : BBB- : 0.14%
AHGP : 8.7500 : -6.63% : -35.24% : NA : 0.40%
AMGN : 2.3300 : 26.22% : 16.65% : A : 0.21%
AMP : 3.0300 : 12.80% : -2.60% : A : 0.17%
AMZN : 0.0000 : 27.68% : 34.58% : AA- : 0.57%
ANTM : 2.0900 : 17.22% : 22.84% : A : 0.17%
AOS : 0.9900 : 29.64% : 31.79% : NR : 0.21%
APD : 2.2100 : 11.10% : 9.40% : A : 0.18%
APU : 8.1500 : 0.36% : -2.08% : NR : 0.43%
ARCC : 9.4400 : 4.98% : 2.63% : BBB : 0.26%
ARLP : 8.4100 : -6.88% : -34.26% : NA : 0.39%
AVA : 3.3200 : 14.45% : 16.98% : BBB : 0.56%
AVGO : 1.1300 : 36.46% : 57.16% : NR : 0.33%
AVY : 2.1200 : 23.60% : 29.20% : BBB : 0.17%
AWK : 1.9900 : 21.43% : 25.01% : A : 0.16%
AZO : 0.0000 : 24.83% : 55.01% : BBB : 0.23%
BA : 3.2800 : 14.06% : 3.28% : A : 0.31%
BABA : 0.0000 : xxxxxx : -3.10% : A+ : 0.09%
BAC : 1.8900 : -1.07% : -11.90% : BBB+ : 0.18%
BAX : 1.1000 : xxxxxx : 38.60% : A- : 0.18%
BBL : 5.6100 : -20.47% : -40.82% : A+ : 0.20%
BCE : 4.3800 : 9.20% : 7.70% : BBB+ : 0.27%
BCR : 0.4700 : 15.87% : 17.69% : A : 0.18%
BDX : 1.4900 : 13.13% : 17.17% : BBB+ : 0.25%
BERY : 0.0000 : 34.60% : 33.30% : BB- : 0.18%
BFB : 1.3300 : 15.90% : 4.40% : NR : 0.24%
BGS : 3.5300 : 18.60% : 23.90% : BB- : 0.17%
BIG : 1.6400 : 10.10% : 8.20% : BBB : 0.16%
BIIB : 0.0000 : 30.16% : -4.16% : A- : 0.14%
BIP : 4.8800 : 14.72% : 1.96% : BBB+ : 1.16%
BLK : 2.4500 : 20.0% : 8.6% : AA- : 0.18%
BMO : 3.9500 : 2.55% : -3.58% : A+ : 0.21%
BMY : 2.5900 : 23.80% : 18.51% : A+ : 0.51%
BNS : 4.1800 : -2.04% : -12.10% : A+ : 0.19%
BP : 6.9500 : -7.25% : -18.27% : A : 0.38%
BPL : 6.9500 : 6.70% : 0.90% : BBB- : 0.27%
BRKB : 0.0000 : 11.65% : 7.88% : AA : 0.43%
BSX : 0.0000 : 27.10% : 36.40% : BBB- : 0.17%
BUD : 3.1700 : 19.95% : 13.39% : A- : 0.19%
BURL : 0.0000 : 36.14% : 38.23% : BB- : 0.17%
BWLD : 0.0000 : 20.66% : -2.70% : NA : 0.09%
C : 1.3500 : 0.20% : -1.70% : BBB+ : 0.17%
CAH : 2.2500 : 19.00% : 7.10% : A- : 0.17%
CB : 2.1700 : 14.30% : 11.40% : A : 0.18%
CBRL : 2.9400 : 25.19% : 24.32% : NA : 0.17%
CCE : 3.1000 : 14.90% : 9.70% : BBB+ : 0.18%
CELG : 0.0000 : 27.70% : 17.00% : BBB+ : 0.15%
*CEQP : 11.4000 : xxxxxx : -54.30% : NA : 0.03%
CERN : 0.0000 : 14.00% : 7.90% : NA : 0.09%
CHD : 1.4200 : 19.60% : 19.30% : BBB+ : 0.26%
CHTR : 0.0000 : 28.40% : 17.60% : NA : 0.18%
CIM : 11.7400 : 4.00% : 9.90% : NA : 0.49%
CINF : 2.4800 : 17.21% : 17.92% : BBB+ : 0.18%
CL : 2.0900 : 13.25% : 5.21% : AA- : 0.76%
*CLMT : 0.0000 : 4.98% : -9.14% : B+ : 0.07%
CLX : 2.4300 : 17.54% : 23.68% : BBB+ : 0.51%
CMCSA : 1.6800 : 21.33% : 11.92% : A- : 0.19%
CMG : 0.0000 : 10.07% : -11.39% : NA : 0.16%
CNC : 0.0000 : 35.01% : 43.29% : BB : 0.17%
COP : 2.3600 : -4.80% : -21.40% : A- : 0.07%
COR : 2.7000 : 36.90% : 53.75% : NA : 0.19%
COST : 1.1000 : 17.35% : 18.07% : A+ : 0.18%
CRM : 0.0000 : 16.90% : 25.60% : NA : 0.17%
CSCO : 3.2900 : 5.57% : 9.93% : AA- : 0.18%
CSL : 1.3400 : 17.30% : 11.30% : BBB : 0.17%
CTAS : 0.9000 : 28.90% : 34.90% : BBB+ : 0.18%
CTSH : 0.0000 : 8.10% : 12.90% : NR : 0.18%
CVS : 1.8300 : 25.04% : 17.04% : BBB+ : 0.15%
CVX : 4.1900 : 2.46% : -3.37% : AA : 0.97%
D : 3.7000 : 13.00% : 19.10% : BBB+ : 0.16%
DEO : 2.9600 : 10.00% : 0.60% : A- : 0.06%
DG : 1.2900 : 21.08% : 21.25% : BBB : 0.15%
DHR : 0.7800 : 13.34% : 13.55% : A : 0.14%
DIS : 1.5000 : 22.21% : 19.32% : A : 0.17%
DLPH : 1.6400 : 35.08% : 6.88% : BBB : 0.16%
DLR : 3.5000 : 11.76% : 31.37% : BBB : 0.19%
DLTR : 0.0000 : 23.30% : 30.50% : BB+ : 0.21%
DPM : 9.2300 : 3.01% : -11.43% : BB : 0.28%
DPS : 2.2700 : 20.24% : 27.78% : BBB+ : 0.76%
DRE : 2.5600 : 12.28% : 16.54% : BBB : 0.23%
DUK : 4.2500 : 12.50% : 12.70% : A- : 0.06%
*DX : 11.4100 : 3.62% : -1.28% : NR : 0.31%
DY : 0.0000 : 30.14% : 43.01% : BB : 0.17%
EA : 0.0000 : 24.20% : 42.60% : BBB- : 0.17%
ED : 3.5600 : 10.56% : 16.59% : A- : 0.23%
EEP : 9.9700 : 0.67% : -5.48% : BBB : 0.30%
EPD : 6.0200 : 7.44% : -9.87% : BBB+ : 0.40%
ESRX : 0.0000 : 5.68% : -1.00% : BBB+ : 0.14%
ETE : 6.2700 : 8.60% : -22.67% : BB : 0.51%
ETP : 10.5300 : -2.21% : -18.34% : BBB- : 0.31%
EW : 0.0000 : 18.80% : 44.30% : BBB- : 0.17%
EXPE : 0.9500 : 18.72% : 20.52% : BBB- : 0.16%
EXR : 3.8700 : 36.50% : 36.20% : NR : 0.15%
FB : 0.0000 : 38.80% : 31.80% : NR : 0.59%
FBHS : 1.0000 : 40.63% : 15.67% : BBB : 0.17%
FDX : 0.9700 : 16.60% : 6.50% : BBB : 0.18%
FIVE : 0.0000 : 12.00% : 12.30% : NA : 0.16%
FL : 1.6600 : 26.42% : 14.76% : BB+ : 0.16%
FLO : 4.2000 : 11.46% : -4.11% : BBB : 0.16%
GAIN : 8.1300 : 8.20% : 8.50% : NA : 0.26%
GD : 1.9900 : 14.17% : 14.29% : A+ : 0.17%
GE : 2.9300 : 11.65% : 12.26% : AA+ : 1.17%
GILD : 2.4100 : 36.79% : 20.26% : A : 0.47%
GIS : 1.6400 : 18.90% : 15.10% : AAA : 0.84%
GLP : 12.2900 : -0.39% : -25.64% : B+ : 0.20%
GNTX : 2.0000 : 8.40% : 12.10% : NA : 0.15%
GOOGL : 0.0000 : 21.30% : 15.70% : NA : 0.60%
GPC : 2.5000 : 14.74% : 7.87% : NA : 0.17%
HAIN : 0.0000 : 22.70% : -10.97% : NA : 0.22%
HBI : 1.6200 : 30.60% : 4.80% : BB : 0.17%
HCA : 0.0000 : 23.10% : 8.70% : NA : 0.17%
HCN : 4.4700 : 9.78% : 11.85% : BBB : 0.18%
HD : 2.0400 : 30.78% : 31.90% : A : 0.48%
HEP : 7.2400 : 6.24% : 1.43% : BB : 0.38%
HFC : 5.1200 : 11.64% : -9.31% : BBB- : 0.10%
HII : 1.2000 : 34.40% : 26.40% : BB+ : 0.17%
HOLX : 0.0000 : 9.36% : 26.65% : BB : 0.17%
HON : 2.0300 : 14.00% : 6.12% : A : 0.19%
HP : 4.4700 : -1.08% : -23.03% : BBB+ : 0.17%
HRL : 1.5100 : 27.47% : 35.15% : A : 0.18%
HRS : 2.2900 : 15.51% : 14.05% : BBB- : 0.17%
HSY : 2.2100 : 15.70% : 12.70% : A : 0.17%
ICLR : 0.0000 : 23.30% : 19.30% : BBB- : 0.17%
INGN : 0.0000 : xxxxxx : 62.662 : NA : 0.18%
INTC : 2.9300 : 12.43% : 15.18% : A+ : 0.65%
ISRG : 0.0000 : 11.40% : 22.50% : NA : 0.16%
ITW : 2.1600 : 15.90% : 15.16% : A+ : 0.28%
JCI : 2.5500 : 16.00% : -1.20% : BBB+ : 0.17%
JNJ : 2.6700 : 16.26% : 10.03% : AAA : 1.24%
KHC : 2.7100 : xxxxxx : xxxxxx : BBB- : 0.91%
KKR : 5.6100 : 6.83% : -15.73% : A : 0.12%
KMB : 2.8600 : 17.57% : 11.88% : A : 1.10%
KMI : 2.3000 : -2.35% : -17.60% : BBB- : 0.82%
KO : 3.2200 : 8.22% : 9.19% : AA : 0.56%
KR : 1.4800 : 24.10% : 23.30% : BBB : 0.17%
LB : 3.1200 : 20.91% : 20.15% : BB+ : 0.18%
LEA : 1.0400 : 18.72% : 16.42% : BBB- : 0.17%
LEG : 2.6000 : 16.77% : 23.28% : BBB+ : 0.17%
LKQ : 0.0000 : 22.67% : 13.01% : BB : 0.18%
LLY : 2.6000 : 19.70% : 17.10% : AA- : 0.65%
LMT : 2.7000 : 25.31% : 20.36% : BBB+ : 0.64%
LNT : 3.0700 : 15.01% : 13.35% : A- : 0.16%
LOW : 1.8100 : 24.46% : 25.51% : A- : 0.24%
LXP : 6.3600 : 4.90% : 3.09% : BB+ : 0.43%
LYB : 4.0900 : 17.80% : -7.70% : BBB+ : 0.17%
MA : 0.7900 : 28.30% : 14.30% : A : 0.22%
MAIN : 6.4400 : 16.82% : 4.03% : BBB : 1.28%
MANH : 0.0000 : 46.39% : 27.39% : NA : 0.16%
MBLY : 0.0000 : xxxxxxxx : 6.50% : NA : 0.17%
MCD : 3.0800 : 13.40% : 16.83% : BBB+ : 0.82%
MCK : 0.6100 : 18.00% : 0.90% : BBB+ : 0.16%
MDLZ : 1.7700 : 6.95% : 13.94% : BBB : 0.37%
MDT : 1.8500 : 15.90% : 13.05% : A : 0.27%
MFA : 10.4600 : 6.40% : 4.91% : NA : 0.35%
MHK : 0.0000 : 25.90% : 19.47% : BBB : 0.18%
MHLD : 4.0300 : 14.59% : 5.27% : BBB- : 0.19%
MKC : 1.6800 : 15.60% : 16.76% : A- : 0.37%
MMM : 2.4600 : 14.32% : 13.68% : AA- : 0.52%
MMP : 4.6700 : 23.29% : 5.26% : BBB+ : 1.06%
MNST : 0.0000 : 35.60% : 50.30% : NA : 0.29%
MO : 3.6900 : 21.53% : 30.33% : A- : 4.09%
MPWR : 1.0500 : 35.40% : 28.50% : NA : 0.18%
MRK : 2.9200 : 14.47% : 3.08% : AA : 0.19%
MSEX : 2.2500 : 16.60% : 29.70% : A : 0.15%
MSFT : 2.4800 : 15.88% : 21.04% : AAA : 0.46%
MXIM : 3.2300 : 14.60% : 20.40% : BBB+ : 0.17%
NDSN : 1.0800 : 13.30% : 11.50% : NA : 0.17%
NEE : 2.8400 : 17.87% : 11.32% : A- : 0.27%
NHI : 4.4600 : 11.19% : 10.16% : NR : 0.41%
NKE : 1.0900 : 22.40% : 25.30% : AA- : 0.17%
NNN : 3.6200 : 14.65% : 17.07% : BBB+ : 0.40%
NOC : 1.6900 : 28.04% : 30.17% : BBB+ : 0.39%
NS : 9.1300 : -2.49% : -1.08% : BB+ : 0.20%
NUE : 3.0300 : 4.32% : 1.97% : A- : 0.29%
NVO : 2.0400 : 18.44% : 11.38% : AA- : 0.15%
NWBI : 3.9000 : 6.90% : 8.90% : NA : 0.18%
O : 3.6400 : 14.66% : 24.35% : BBB+ : 1.12%
OHI : 6.5900 : 13.60% : 4.70% : BBB- : 1.08%
OKE : 5.1900 : 6.05% : -31.20% : BB+ : 0.19%
OKS : 7.9700 : -0.49% : -22.65% : BBB : 0.61%
ORLY : 0.0000 : 35.75% : 33.68% : BBB+ : 0.27%
OXY : 3.9000 : -3.45% : -7.77% : A : 0.20%
OZRK : 1.6500 : 25.80% : 9.90% : NA : 0.17%
PAA : 9.7700 : 2.17% : -26.15% : BBB+ : 0.43%
PANW : 0.0000 : 24.90% : 29.00% : NA : 0.17%
PAYX : 3.0300 : 11.41% : 10.42% : NA : 0.17%
PCLN : 0.0000 : 17.70% : 3.80% : BBB+ : 0.19%
PEP : 2.7900 : 12.05% : 13.33% : A : 0.62%
PF : 2.2400 : 27.10% : 23.07% : BB- : 0.17%
PFE : 3.4200 : 13.30% : 4.98% : AA : 0.27%
PG : 3.0300 : 9.30% : 5.50% : AA- : 0.74%
PHK : 12.4200 : 1.61% : -9.95% : NA : 0.34%
PM : 4.0700 : 5.86% : 12.76% : A : 1.43%
PNNT : 14.2000 : -0.77% : -14.84% : BBB- : 0.37%
PPG : 1.4900 : 19.06% : 4.49% : BBB : 0.16%
PRGO : 0.6300 : 4.45% : -19.65% : BBB- : 0.16%
PSA : 3.1900 : 19.20% : 23.70% : NA : 0.15%
PSEC : 11.8100 : 2.60% : -8.47% : BBB- : 0.68%
PSX : 3.1900 : 29.23% : 9.16% : BBB+ : 0.21%
PTY : 10.5300 : 0.07% : -4.68% : NA : 0.18%
PYPL : 0.0000 : xxxxxx : 28.90% : BBB : 0.15%
RAI : 3.6800 : 24.59% : 36.25% : BBB- : 4.15%
RDSA : 7.5600 : -2.30% : -13.80% : A+ : 0.19%
REGN : 0.0000 : 45.40% : 14.60% : NA : 0.17%
RH : 0.0000 : 9.57% : -28.75% : NA : 0.13%
ROP : 0.6700 : 15.90% : 13.50% : BBB : 0.18%
ROST : 0.8600 : 26.79% : 26.65% : A- : 0.41%
RSG : 2.5200 : 10.97% : 18.05% : BBB+ : 0.16%
RSO : 12.6200 : 1.50% : -10.00% : NA : 0.16%
RTN : 2.0700 : 24.00% : 19.60% : A : 0.24%
RY : 4.0600 : 2.64% : -6.67% : AA- : 0.28%
SABR : 1.8600 : 26.00% : 4.10% : NA : 0.17%
SAM : 0.0000 : 11.32% : -18.77% : NA : 0.18%
SAN : 3.8800 : -9.81% : -24.95% : A- : 0.12%
SBUX : 1.4100 : 30.68% : 28.63% : A- : 0.27%
SCG : 3.2300 : 14.64% : 18.37% : BBB+ : 0.34%
SE : 4.5300 : 6.37% : -4.46% : BBB : 0.35%
SEP : 5.7700 : 10.58% : 5.19% : BBB : 0.31%
SFL : 11.7800 : 8.20% : 2.20% : NR : 0.16%
SHW : 1.1700 : 25.72% : 19.33% : A : 0.17%
SJM : 2.1200 : 16.30% : 20.90% : BBB : 0.34%
SKX : 0.0000 : 37.90% : 52.10% : NR : 0.13%
SLB : 2.4600 : 2.60% : -11.90% : AA- : 0.17%
SNA : 1.5700 : 21.80% : 16.00% : A- : 0.17%
SO : 4.3600 : 9.21% : 10.10% : A- : 0.42%
SPH : 10.5400 : -6.24% : -16.92% : BB- : 0.24%
SQ : 0.0000 : xxxxxx : 17.67% : NR : 0.14%
SRE : 2.8800 : 16.50% : 5.20% : BBB+ : 0.16%
STZ : 0.9600 : 47.00% : 34.20% : BB+ : 0.30%
SUN : 10.8100 : 20.11% : 9.95% : BB : 0.11%
SWK : 1.8800 : 10.50% : 15.30% : A : 0.19%
SWKS : 1.4900 : 17.39% : 45.24% : NA : 0.09%
SXL : 6.6400 : 15.22% : -19.71% : BBB : 0.71%
SYF : 1.9100 : xxxxxx : 9.90% : BBB- : 0.15%
SYK : 1.3100 : 13.43% : 16.79% : A : 0.18%
SYY : 2.3700 : 9.39% : 9.89% : A- : 0.33%
T : 4.6800 : 8.88% : 8.82% : BBB+ : 1.61%
TAP : 1.5900 : 16.77% : 28.56% : BBB- : 0.30%
*TCAP : 8.9600 : 11.49% : -1.16% : NA : 0.23%
TCP : 7.0500 : 4.87% : 10.45% : BBB- : 0.31%
*TCRD : 13.3900 : 3.40% : -0.80% : NA : 0.19%
TD : 3.7800 : 3.08% : -5.06% : AA- : 0.18%
TEF : 9.0300 : -10.90% : -14.70% : BBB : 0.09%
TEVA : 2.2800 : 4.70% : 6.23% : BBB+ : 0.15%
TGT : 3.3800 : 12.40% : 16.60% : A : 0.37%
*TICC : 18.1300 : -1.23% : -11.39% : NA : 0.12%
TJX : 1.3200 : 22.90% : 12.80% : A+ : 0.17%
TLP : 6.3500 : 1.11% : -15.37% : NA : 0.36%
TMO : 0.3900 : 19.90% : 15.90% : BBB : 0.19%
TOO : 8.2100 : -12.52% : -49.45% : NA : 0.09%
TOT : 5.6700 : -0.40% : -12.90% : A+ : 0.23%
TRGP : 8.2600 : 6.85% : -31.95% : BB- : 0.30%
TSCO : 1.1300 : 25.50% : 19.10% : NA : 0.15%
TSN : 0.7900 : 30.81% : 29.26% : BBB : 0.18%
TWO : 11.0200 : 6.23% : -1.78% : NA : 0.17%
TWX : 2.0300 : 23.5% : 24.1% : BBB : 0.17%
TXN : 2.1700 : 13.6% : 16.70% : A+ : 0.17%
ULTA : 0.0000 : 31.10% : 53.10% : NA : 0.18%
UNH : 1.8200 : 22.90% : 34.60% : A+ : 0.17%
UNP : 2.2900 : 14.57% : 0.07% : A : 0.17%
UVE : 2.3200 : 30.10% : 14.30% : NA : 0.17%
V : 0.6900 : 34.23% : 17.68% : A+ : 0.28%
VFC : 2.3100 : 19.70% : 0.90% : A : 0.17%
VGR : 7.2300 : 15.19% : 9.73% : B : 1.22%
VLO : 4.3100 : 17.15% : 9.87% : BBB : 0.18%
VRSN : 0.0000 : 30.40% : 19.40% : BB+ : 0.15%
VTR : 3.9700 : 6.40% : 4.77% : BBB+ : 0.35%
VZ : 4.3000 : 9.40% : 6.91% : BBB+ : 0.63%
WBA : 1.8700 : 16.72% : 21.55% : BBB : 0.74%
WEC : 3.2800 : 15.77% : 13.26% : A- : 0.15%
WES : 6.4900 : 10.30% : -11.06% : BBB- : 0.97%
WFC : 3.0700 : 11.90% : 3.53% : A : 0.45%
WM : 2.5500 : 12.10% : 20.10% : A- : 0.19%
WMT : 2.8000 : 7.10% : -4.40% : AA : 0.22%
WPC : 5.8900 : 16.90% : 6.90% : BBB : 0.19%
WPZ : 9.0900 : xxxxxx : -53.62% : BBB : 0.22%
WSO : 2.3000 : 21.40% : 28.60% : NA : 0.17%
WTR : 2.4700 : 12.92% : 12.95% : NA : 0.17%
XEL : 3.2600 : 13.28% : 16.58% : A- : 0.17%
XOM : 3.4200 : 3.67% : 2.38% : AA+ : 0.54%
++SPY : 1.90000 : 13.30% : 7.80%
++SPY added as a comparison benchmark.
* Indicates stocks that I might sell.
New additions JAZZ, MAS, SPR, VNTV, THO, FISV, AMT, QCOM (previously owned), AMAT, ATVI, NVDA, FDS, FTV (spin-off), ASIX (spin-off), VSM (spin-off), and NVEE. Total positions held 302.
In general there seems to be a correlation between high yield and substandard stock price performance (total return).
I'm an Army veteran and former energy dividend writer for The Motley Fool. My goal is to help all people learn how to harness the awesome power of dividend growth investing to achieve their financial dreams, and enrich their lives. With 20 years of investing experience, I've learned what works and more importantly, what doesn't, when it comes to building long-term wealth and income streams. I'm currently on an epic quest to build a broadly diversified, high-quality, high-yield dividend growth portfolio that:
1. Pays 4-5% yield
2. Offers 9%-10% annual dividend growth
3. Pays dividends AT LEAST on a weekly, but preferably, daily basis
1. Navios Maritime Midstream Partners (NAP)
2. Golar LNG Partners (GMLP)
3. Dynagas LNG Partners (DLNG)
4. Suburban Propane Partners (SPH)
5. Ship Finance International (SFL)
6. KNOT Offshore Partners (KNOP)
7. Sunoco LP (SUN)
8. Summit Midstream Partners (SMLP)
9. Gaslog Partners (GLOP)
10. Triangle Capital (TCAP)
11. Seaspan (SSW)
12. CorEnergy Infrastructure Trust (CORR)
13. Energy Transfer Partners (ETP)
14. Fidus Investment Corp. (FDUS)
15. New Mountain Finance Corp. (NMFC)
16. Ares Capital (ARCC)
17. Annaly Capital Management (NLY)
18. Terra Nitrogen (TNH)
19. Monroe Capital (MRCC)
20. Hercules Capital (HGTC)
21. TPG Specialty Lending (TSLX)
22. Enviva Partners (EVA)
23. ONEOK Partners (OKS)
24. Hoegh LNG Partners (HMLP)
25. Jernigan Capital (JCAP)
26. Starwood Property Trust (STWD)
27. New Senior Investment Group (SNR)
28. Ladder Capital Corp. (LADR)
29. Compass Diversified Holdings (CODI)
30. Goldman Sachs BDC Inc (GSBD)
31. Ares Commercial Real Estate Corp. (ACRE)
32. AmeriGas Partners (APU)
33. Ciner Resources (CINR)
34. Care Capital Properties (CCP)
35. Genesis Energy Partners (GEL)
36. Landmark Infrastructure Partners (LMRK)
37. Blackstone Minerals (BSM)
38. Omega Healthcare Investors (OHI)
39. Tallgrass Energy Partners (TEP)
40. Xenia Hotels & Resorts (XHR)
41. Holly Energy Partners (HEP)
42. City Office REIT (CIO)
43. Gaming and Leisure Properties (GLPI)
44. Pattern Energy Group (PEGI)
45. Sunoco Logistics Partners (SXL)
46. Sabra Healthcare REIT (SBRA)
47. Community Healthcare Trust (CHCT)
48. Main street Capital (MAIN)
49. LaSalle Hotel Properties (LHO)
50. Energy Transfer Equity (ETE)
51. Chatham Lodging Trust (CLDT)
52. Royal Dutch Shell (RDS.A)
53. Chesapeake Lodging Trust (CHSP)
54. Macquarie Infrastructure Corp. (MIC)
55. MPLX (MPLX)
56. Medical Properties Trust (MPW)
57. Apple Hospitality REIT (APLE)
58. 8Point3 Energy Partners (CAFD)
59. Brookfield Renewable Partners (BEP)
60. Stag Industrial (STAG)
61. NRG Yield (NYLD)
62. InfraREIT (HIFR)
63. VEREIT (VER)
64. Armada Hoffler Properties (AHH)
65. Spirit Realty Capital (SRC)
66. HollyFrontier Corp. (HFC)
67. Vodafone (VOD)
68. Hannon Armstrong Sustainable Infrastructure Capital (HASI)
69. Ford (F)
70. NextEra Energy Partners (NEP)
71. GM (GM)
72. PacWest Bancorp (PACW)
73. AT&T (T)
74. Easterly Government Properties (DEA)
75. Brookfield Property Partners (BPY)
76. W.P Carey (WPC)
77. MGM Growth Properties (MGP)
78. Preferred Apartment Communities (APTS)
79. Hersha Hospitality Trust (HT)
80. RLJ Hospitality Trust (RLJ)
81. Enterprise Products Partners (EPD)
82. Pebblebrook Hotel Trust (PEB)
83. Brookfield Infrastructure Partners (BIP)
84. Magellan Midstream Partners (MMP)
85. Iron Mountain (IRM)
86. National Health Investors (NHI)
87. EPR Properties (EPR)
88. Spectra Energy Corp. (SE)
89. Lazard Ltd. (LAZ)
90. Chevron (CVX)
91. Helmerich & Payne (HP)
92. Valero Energy Corp (VLO)
93. Maiden Holdings (MHLD)
94. Oceaneering International (OII)
95. Toronto-Dominion Bank (TD)
96. Invesco (IVZ)
97. ExxonMobil (XOM)
98. L Brands (LB)
99. Suncor Energy (SU)
100. Wells Fargo (WFC)
101. Gilead Sciences (GILD)
102. Bank of America (BAC)
Individual investor. My formal educational background is engineering, having obtained a BSEE degree. My professional background is primarily engineering, although I've dedicated a significant amount of time investing in the financial markets and increasing my financial IQ.
Grew up an Air Force brat. Lived in various places around the world and country as a result. Started a career in telecom right out of college. Walked away from a 10 year career in telecom to pursue a career in finance, as it has proved to be the only thing to keep my interest for any length of time. Currently working on attaining the CFA designation while keeping an eye open for new opportunities in finance.
CFA Level 2 Candidate
A few years ago, I was looking through my 401k statement and noticed a rather glaring reality – the mutual funds that I had the option to invest in were all underperforming their peers, while dwarfing their expense ratios.
I had the sneaking suspicion that I could do better myself. And I have largely been right. However, with three kids now five and under, I simply don’t have the time to study technicals and look for golden crosses or reverse head-and-shoulders. What I really needed was a portfolio which could handle a largely hands-off approach. And so I have started the journey to make my portfolio focused on an ever-increasing income stream (usually called Dividend Growth Investing), rather than an overwhelming focus on percentages ("Income pays the bills; percentages don't"). And since I am 37, I have the time horizon needed to make this compounding approach really work for me.
The moves I make and the portfolio I share is real. Here’s what I hold as of 7/11/16:
CLDT - cost basis $21.85; CVX – cost basis $105.27; F - cost basis $12.87; GILD - cost basis $82.87; HSY - cost basis $92.76; JNJ – cost basis - $99.27; LTC - cost basis $46.45; MSFT – cost basis - $35.50; O – cost basis - $45.50; OXY – cost basis - $80.38; PH – cost basis $115; SO - cost basis $49.00; STAG - cost basis $16.86; WFC - cost basis $45.45.
I don’t have the time or see the point in having a “model” portfolio, because nothing about a model portfolio ultimately matters. As a result, every word of my writing here is based on what I really do with my real money in my real portfolio(s).
If you follow me, you will get my efforts to find high-quality companies (whether hidden or in plain sight) to own, updates and rationale for all the moves I make, as well as rearview analysis on my life as an investor – what I have learned and the mistakes I have made – so that you can avoid making them as well. All of this without having to whip out your credit card.
Join me, won’t you? I wish you good luck and great investing!
I am a Civil Engineer, who is married with three kids under the age of 5. In early 2013 I took a more active role in managing my IRA for retirement and decided to publicly share my experiences in building the portfolio. My hope is to provide a positive example for other young do-it-yourself investors as they save for retirement on a limited budget.
My interest in investing mostly began in 2005 when I started up an investment club with a few friends from college and has accelerated as I've been reading and learning along the way. Since then, investing and the stock market has become a passion and favorite hobby and I've enjoyed writing about stocks and sharing ideas I have here on Seeking Alpha.
My investing goals are to build a nest egg for retirement and fund college education accounts for my kids. I invest mainly in dividend paying stocks that have shown a history of consistent growth in earnings and dividend payouts.
PRIMARY OBJECTIVE: ... Income Replacement!
Escape velocity is the speed that an object needs to be traveling to break free of the planet's gravitational pull and leave it without further propulsion.
This portfolio is looking for the point where the income being generated can allow the holder of this portfolio to escape the gravitational pull of the market and economic forces of worrying about share prices.
The objective is to generate enough income from assets that the only selling of shares will become an option, not a necessity to survive. Therefore, with enough income being generated, it minimizes the fear of meaningful market corrections as dividends are based on the number of shares owned, not the share price.
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.
My wife and I are now retired. We live off SS and the income from our portfolio. My investments are all income producers and include dividend growth stocks like T and MO, some higher yielding low growth issues like PNNT. and others in between. About 25% of my income comes from fixed income preferred issues. When I was younger I was more into growth, but my goal was to switch to income and live off that. So that is what I have achieved today. I also work as a tax preparer for the 4 months of tax season.
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 66 DGI stocks: ABBV, ABT, AMGN, AVA, BBL, BMY, CAH, CBRL, CCP, CLX, CMCSA, COP, CVX, D, DEO, DLR, DUK, ED, EMR, EPD, FLO, GE, GILD, GIS, HCP, IBM, JNJ, KHC, KMB, KMI, KO, LMT, LNT, MCD, MMM, MMP, MO, MRK, MSFT, NEE, NOK, O, OHI, OMI, PDCO, PEP, PFE, PG, PM, SCG, SEP, SO, SYY, T, TUP, UL, UPS, UTX, VTR, VZ, WEC, WMT, WPC, XEL, XOM, and ZBH.
In addition, I manage our millennial daughter's dividend growth retirement portfolio of the following 33 stocks: AAPL, ABBV, ABT, AMGN, BMY, CAH, CCP, D, DIS, DLR, EMR, FLO, GILD, HCP, JNJ, KO, MCD, MMM, MMP, MSFT, OMI, PFE, PG, PM, SCG, SO, T, UNP, V, VTR, VZ, WEC, and XOM.
I'm a former philosophy professor (University of Kentucky, East Carolina) who got an MBA and morphed into a software developer. These days I am semi-retired and manage investments for myself and other family members. I live in Fresno, CA.
I am fortunate to have or have had the opportunity to manage three different types of portfolios -- an income-maximizing portfolio for my late mother, a blue-chip dividend growth portfolio which will pass to my nephews, and a blended portfolio for my wife and me. This has given me the invaluable experience of thinking concretely about different profiles of current yield, growth, and total return. Generally speaking, I believe that investors of all ages should partake of all parts of this spectrum, just in different proportions. The articles I have written for SA, and the ones I contemplate for the future, are focused on developing this concept.
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!...
Retired Pharmacist. Call me Rose. Nose= Knows enough to know I need to keep learning and keeping a great dividend paying nest egg growing upwards. I also enjoy total return, but it is not my primary goal, it just happens to follow when buying great quality companies.
My 88 stock portfolio is listed here by sector, largest holding by value is listed first. Updated 10/20/2016.
Consumer Defensive (15): KO, PM, GIS, MO, TGT, KMB, CVS, DEO, PG, PEP, MDLZ, CL, KHC, UL. RAI -
Consumer Cyclical (8): MCD, SBUX, GPC, NKE, HAS, MAT, VFC, HD -
Healthcare (7): JNJ, ABBV, AMGN, CAH, BDX , GILD, PFE-
Energy (4): XOM, CVX, OXY, VLO, -
Tech (2): ADP, CSCO -
Industrial(8): BA, UNP, MMM, CMI, GWW, LMT. -
Financial (8): NRZ, ARI,, LADR, BXMT (mREITs) TROW, MA, V, WFC,
MET , CTO -
BDCs (7): ARCC, MAIN, PNNT, HTGC, NEWT (small), PSEC, GAIN -
REAL ESTATE or
Healthcare eREITs (5) : OHI, VTR, HCN, NHI, CCP, -
Equity Reits (12): WPC, DLR, O, CLDT, STAG, LXP, UBA, SNR (small), APLE, SPG, NSA -STWD (hybrid)
Telecom (2): VZ and T -
Utility (10): SO, D, XEL, MGEE, WEC, DNP, LNT, CNP, EXC, FE -
DNP is a CEF which predominately holds Utilities.
I'm the guilty conscience of all the world's overconfident stock tip subscription bloggers, financial advisors, hobbyists, and market pundits. In a rare moment of honest self-reflection, I admit that the following popular activities add no long term value compared to index funds:
Paying for stock tip subscriptions.
Obsessing about dividends or dividend streaks.
Scrounging income by selling options.
Forecasting interest rates, commodity prices, and stock market returns.
Paying an advisor 1% of assets under management to create a portfolio of mutual funds.
Following consensus superstitions such as support levels and resistance.
Believing that valuation graphs identify undervalued stocks.
Thinking that beating the S&P 500 for several years predicts future outperformance.
Laboriously building a portfolio that's like an existing no-effort ETF but without the benefit of diversification.
I have been a software engineer developing various types of computer programs for more than 25 years in many different fields. I have been investing 401(k) funds in various mutual funds for close to 20 years and started investing outside of my retirement account a little over 10 years ago.
I used to follow a value oriented strategy, but after I saw how that faired in the financial crisis, I began to switch over to a more income based approach. I have switched my portfolio to a DGI strategy.
One of my most profitable picks turned out to be Freddie Mac, which I originally chose because I liked the dividend and because I once worked there. When it first ran into problems I increased my holdings because it still looked like a good value to me. I eventually managed to buy several thousand shares at a cost of $0.50 (I knew that was a good value) and eventually exited the stock at a price that was $5 a share above my average share cost.
My biggest miss was when I sold out my 100 shares of Apple shortly after Steve Jobs returned but before he had done much to improve the companies outlook.
My holdings incude :
ABBV CL CMI CVX DLR EMR LTC
F GIS HTA INTC JNJ KMI KO KHZ
LMT MCD MO MPW MSFT O OHI PG T
VGR WEC WMT WPC
I am a retired nurseryman, who is trying to grow my net worth. Looking to profit from the market's idiocies. Trying to find out what the market doesn't understand, and how I can benefit. The bulk of my income is from my investments since I have no other income except Social Security.
I am trying to grow my income through investments in stocks, stock mutual funds and bond funds.
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!
I have never been a dancer, but some might accuse me of being a diva. I liked the alliterative properties of the name and was reading a book about dancers at the time of my Seeking Alpha signup.
Born in "da Bronx" in 1956, now living in California, I spend much of my time managing the family finances, researching and trading stocks. I'm retired (as is my spouse); my background is in economics, with expertise in grains analysis. During the almost 20 years I worked for a grains exporter, a major food company and a couple of brokerage firms - always in grains analysis. In my last job, I was given the go-ahead to trade. Trading grain futures is a great way to build wealth but I've seen too many others lose it quickly, so I walked away from it in 1997 (to the surprise of many) and transferred that passion to stock analysis in 2005, several years after our son was born. The slower pace of the stock market is better suited to our advancing ages and desire for capital preservation.
What I enjoy most about the markets is the continuous learning process and read Seeking Alpha in pursuit of actionable knowledge.
Mr. Billings manages three large personal stock portfolios utilizing a unique investment strategy. The strategy is called Invest.Trade Praxis and combines the elements of investing in blue chip dividend stocks, disciplined investing and periodic trading. He has published a book titled "Main Street Stock Investor", which is available at Amazon books.
Paul Wagner is a seasoned stock investor with a long background in financial analysis and portfolio management. His career in credit and financial analysis began in 1967 at Dun & Bradstreet while he was still attending North Park College in Chicago. After a stint in the U.S. Army he began a 25-year career with Heller Financial, a premier secured lender to middle market companies. In 1997, he left his position there as the senior credit executive of Heller's Current Asset Management Group to create and manage his own portfolios of public securities. He has written several articles for Seeking Alpha and in 2012 authored a short book on investing fundamentals for newer stock investors.
Paul's book is available here.
I'm a 65-year-old investor focused on dividends in a Retirement Income Portfolio. I'm not yet in the distribution phase of retirement.
I've been a member of the National Association of Investment Clubs (NAIC) since 1982, which now operates as BetterInvesting.org. For many years as a volunteer I helped lead workshops to teach tools developed by NAIC to educate investors about how to do basic fundamental stock analysis. I continue to have a strong interest in investor education.
NAIC's historic "four principles" have been very helpful to me:
1) invest regularly throughout your lifetime;
2) invest in growth companies;
3) reinvest earnings and profits;
4) diversify by industry and size.
Bill Bengen's "4% Rule" concept inspired me to set a goal to create a retirement income portfolio of individual dividend growth stocks as a way to tap only dividend income from the portfolio as long as possible rather than selling assets.
Helpful mentors and colleagues include:
- Charles Allmon, former columnist for Better Investing, taught me to look for growth stocks
- Ben Graham's The Intelligent Investor taught me the importance of intrinsic value
- Peter Lynch instilled confidence that the average citizen can win in the stock market
- Louis Rukeyser demonstrated how to ask probing questions about market conditions
- Brad Thomas introduced me to a host of real estate investment trusts
- Bob Wells' analytical discipline keeps me focused on dividend growth
- Lowell Miller's The Single Best Investment helped me focus on quality and safety
- David Van Knapp's holistic style of portfolio building helps me see the big picture
- David Fish and Factoids inspire me to keep digging for data
- Chowder reminds me that each buy is the purchase of a business
- BDC Buzz has helped me sift through business development companies
- Tom Konrad opened my mind to alternative energy investments
- George Fisher is a helpful "lookout" scanning the horizon for utility opportunities
- The Seeking Alpha community--both veterans and young contributors.