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  • Is It Time To Consider Selling Altria? It Depends [View article]
    Long and strong mighty MO+PM.

    However, the last time I looked, there was no statutory requirement for an MLP to distribute anything. EPD is an example of an MLP that does not pay out to the max; it pays out ~65% of its distributable cash flow. MMP pays out ~51%.
    May 19, 2015. 09:19 PM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    There you go. I don't always see what is there. ;-)

    No mention of any index changes. This will probably depend on when Williams closes the deal, some time later this year[1].

    [1] http://bit.ly/1e17hen
    May 19, 2015. 06:10 PM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    I have not found anything with that date at Alerian.
    May 19, 2015. 05:16 PM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    SeatleView,

    I think it is reasonable to wonder about how the Williams (WMB) conversion to C corp might affect AMZI. The immediate effect is obvious, assuming Alerian does what it did when KMP/KMR were folded into KMI - removal from the index. Longer term, who knows what Alerian will do? So that is one concern.

    Another concern is the cash flows that the midstreamers might reasonably be expected to generate in the years ahead. This is a complex subject with many moving parts, and many unkowns and unknowables. I rely on the in-depth research done by Wells Fargo (available to me as a brokerage customer) and to a lesser extent on research by Credit Suisse, Goldman Sachs, and others, as it becomes available to the public. For now, I am holding my position in MLPL, with the expectation that the midstreamers are reliable cash generators for some years to come.
    May 19, 2015. 02:47 PM | 2 Likes Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    I checked the Alerian web site yesterday and there was no mention of how the Williams change will affect AMZI. Have you been able to learn anything about this situation?
    May 19, 2015. 02:04 PM | 1 Like Like |Link to Comment
  • INCOME GROWTH AND THE CHOWDER NUMBER [View instapost]
    Mighty MO us currently yielding 4% and its DGR numbers are:

    1 yr: 8.33%
    3 yr: 8.24%
    5 yr: 8.24%

    Chowder number = 12.24.

    There is no indication of any slowing in DGR. Try plugging MO into your spreadsheet and compare to your other choices.
    May 19, 2015. 11:51 AM | Likes Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    What you are asking about is the TED spread[1]. I added the components.

    [1] http://bit.ly/1S3Y1FY
    May 18, 2015. 09:32 PM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    FRED is paid for by our federal taxes and of course all the willing buyers of Treasury securities.

    I have had a lot of fund exploring FRED. (Ha - my idea of fun!) There is a tremendous amount of information there, all free.

    One of these days I am going to create an account and then try saving custom data series and giving that delta calculation a try.
    May 18, 2015. 04:53 PM | 1 Like Like |Link to Comment
  • MLPL Delivers Growth And Solid Yield, But Is It Worth The Risk? [View article]
    Now I have looked and there is no mention of Williams.
    May 18, 2015. 02:37 PM | Likes Like |Link to Comment
  • MLPL Delivers Growth And Solid Yield, But Is It Worth The Risk? [View article]
    Doctor Dividend,

    Excellent questions and I share them. I can foresee that if this trend continues for long enough, Alerian will run out of 25 candidates for their index. Like you, I have no answers.

    These questions should be directed to the index provider, Alerian. I have not looked at their web site since Williams announced the change. For all I know, there is already an answer. It is on my to-do list to check.
    May 18, 2015. 02:29 PM | Likes Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    Yes I saw that. I checked the earliest possible date.

    Something on my to-do list is learn if there is any way to customize FRED charts to calculate deltas between two data series. I would like to see the delta between, for example, 3 month LIBOR and 10 year Treasury. This would give me an approximation of the yield spread for mREITs.
    May 18, 2015. 10:57 AM | 2 Likes Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    SeatleView,

    Federal Reserve data goes back even further:

    http://bit.ly/1HaCi6H

    http://bit.ly/1FlWyFF
    May 17, 2015. 10:42 AM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    I finally get some pushback. At last!

    UBS publishes theoretical performance examples in their pricing supplements. Unlike lazy me who has illustrated how these ETNs work but has ignored fees, the UBS examples include fees.

    The only way for me or anyone else to know how 5% on 3 month LIBOR will affect returns is to build a spreadsheet that replicates their examples and use the higher fees. Short of that, any comment made on this subject is speculation.

    Something for me to do in my spare time.
    May 16, 2015. 05:01 PM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    So your crystal ball is forecasting a reaming? Strange, mine is totally silent.
    May 16, 2015. 04:54 PM | 1 Like Like |Link to Comment
  • ETN Showdown: Are MORL - And All mREITs - Doomed By Rising Rates? [View article]
    SeatleView,

    It only lost capital value if you sold. That was an UNREALized loss.
    May 16, 2015. 10:01 AM | 1 Like Like |Link to Comment
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