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  • My High Dividend Yield Retirement Portfolio Delivers 8.8% Of Income For This Retiree: Updated [View article]
    >Since the majority of my KMR shares are held in our taxable account and I have large carry-forward losses from the internet days, they will offset the gains.<

    What gains? The KMR exchange is not taxable. See slides 11-13 of the presentation.

    Thanks to today's KMR stock dividend, you will receive 2.5281 shares of KMI for each share of KMR, and if the deal does not close before the next x-div date you will receive a similar increase in KMI shares.

    I like your decision to lighten up on PSEC and AGNC. KMI has a much bigger moat than either.
    Aug 14 05:19 PM | 3 Likes Like |Link to Comment
  • How To Arbitrage The Upcoming Kinder Morgan Consolidation [View article]
    With today's stock dividend for KMR, each share of KMR has become 1.017397 shares, which will become 2.5281 shares of KMI at the exchange. If the deal closes after the next dividend payment date (possibly the next x-div date?), there will be a similar percentage increase again. The KMR deal just gets better and better.
    Aug 14 12:21 PM | 1 Like Like |Link to Comment
  • How To Arbitrage The Upcoming Kinder Morgan Consolidation [View article]
    Joe Red,

    You are correct, KMR does not have suspended losses.
    Aug 14 12:15 PM | 1 Like Like |Link to Comment
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    Sumflow has also stopped commenting on StockTwits.
    Aug 13 04:51 PM | Likes Like |Link to Comment
  • High-Yield BDCs For Q3 2014: Part 3 [View article]
    Wells Fargo is schizophrenic on this. On the one hand, they allow customers to own BDCL and MLPL. On the other hand, they do not allow customers to own CEFL or DVHL. They don't say why, but I think they are waiting for more history on CEFL and DVHL before permitting ownership. BDCL and MLPL have been around for 3+ years, the others less than a year.
    Aug 13 11:30 AM | Likes Like |Link to Comment
  • High-Yield BDCs For Q3 2014: Part 3 [View article]
    berloe,

    An ETN does not have book value. It is unsecured debt, emphasis on 'unsecured'.

    An ETN is debt, therefore what it pays is interest.

    Fees are explained in the Factsheet and Prospectus Supplement: http://bit.ly/1hzx2Nq
    Aug 13 11:09 AM | 2 Likes Like |Link to Comment
  • What I'm Doing With My Kinder Morgan Shares As A Dividend Growth Investor [View article]
    No tax on the KMR exchange.
    Aug 13 10:18 AM | Likes Like |Link to Comment
  • What I'm Doing With My Kinder Morgan Shares As A Dividend Growth Investor [View article]
    Plus you will get two more stock dividends before year end.
    Aug 13 09:51 AM | 1 Like Like |Link to Comment
  • Kinder Morgan Merger: Where Are The Bears Now? [View article]
    More buyers (shorts covering, no doubt) than sellers.
    Aug 13 09:42 AM | 2 Likes Like |Link to Comment
  • Kinder Morgan Merger: Where Are The Bears Now? [View article]
    Bruce,

    Your comment has several inaccuracies.

    >Kinder had to screw over KMP and KMR shareholders with a big tax bill next year<

    Not so. KMR unit holders will not get a tax bill. The exchange is not a taxable event for KMR.

    >5%????? Why would anyone own the new KMI if it offers 5% while several other GPs offer double to triple those growth rates?<

    Not so. Slide 3 of the presentation makes these predictions about dividend growth:

    1) 16% dividend increase from 2014 guidance of $1.72
    2) 10% annual growth rate expected for at least the next 5 years thereafter (2015-2020)

    You say 'KMI is going to be a lousy investment over the next 5 years...' I suggest you revisit your opinion in the light of your misunderstandings.

    Best of investing luck. ;-)
    Aug 13 09:40 AM | 19 Likes Like |Link to Comment
  • What I'm Doing With My Kinder Morgan Shares As A Dividend Growth Investor [View article]
    Ominously quiet, both here and on StockTwits.
    Aug 13 09:08 AM | 1 Like Like |Link to Comment
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    Northwest,

    How will you vote your units?

    This transaction disrupts my long term plans for KMR, which has been an ideal dividend growth stock for many reasons including: 1) no tax until you sell shares, and then at LTCG rates; 2) if it passes to your heirs, they get a sweet step up; 3) no UBTI worries when held in an IRA; 4) basis can never drop to zero, unlike KMP; and 5) best of all, you get Richard Kinder.

    However, I think the long term benefit of the reduced WACC makes this transaction a solid winner both for Kinder and for KMI shareholders like me. I plan to vote in favor.
    Aug 13 08:33 AM | Likes Like |Link to Comment
  • Here's The Alarming Table Kinder Morgan Doesn't Want You To See [View article]
    Look at slides 11, 12, and 13 of the presentation: http://bit.ly/1r7hzhZ
    Aug 13 01:28 AM | 1 Like Like |Link to Comment
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    PendragonY,

    Morningstar's numbers are not confirmed by actual price action, and the price action clearly demonstrates that there is no decay.

    In the last 3 years, AZM is up 46% and MLPL is up 111%.

    In the last 3 years, WFBDCPX is up 26% and BDCL is up 51%.

    Where is the decay? All I see is for BDCL is the effect of the fees that UBS charges.

    BTW: according to M*, the 3 year capture ratios for MLPL are 155% to the upside and 79% to the downside. This might explain how MLPL is doing so much better than 2x AMZ, and is another nail in the coffin of price decay.
    Aug 12 03:43 PM | Likes Like |Link to Comment
  • Kinder Morgan: Mega Merger Enhances Dividend Growth Story [View article]
    PendragonY,

    You are wrong about the price decay. All you have to do is look at a long term chart of BDCL compared to WFBDCPX, and MLPL compared to AMZ. Did you try? The numbers you quote are not validated by actual price action.
    Aug 12 03:22 PM | Likes Like |Link to Comment
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