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  • Chasing - And Surviving - Today's Income Storm [View article]
    If you are willing to add risk but not do not want as much leverage as BDCL, try DVYL, HDLV, and MLPL.
    Apr 9, 2015. 10:23 AM | Likes Like |Link to Comment
  • BDC Total Returns Q1 2015: Part 1 [View article]
    Beware of Yahoo Finance.
    Apr 9, 2015. 12:34 AM | Likes Like |Link to Comment
  • MLPL Delivers Growth And Solid Yield, But Is It Worth The Risk? [View article]
    A better stress test would be a number of defaults by the E&P companies on their take-or-pay contracts with the midstream MLPs. Short of this extreme, the midstream MLPs are insulated from the price of crude. I suppose the markets are pricing this risk into the MLPs, but I think it is being greatly overdone.
    Apr 9, 2015. 12:32 AM | 4 Likes Like |Link to Comment
  • Using The 7-Step Income Stock Selection Process: 3 Examples [View article]

    FAST Graphs (FUN Graphs) goes back 20 years, but no download feature. None others that I know of, but then I haven't really looked.
    Apr 9, 2015. 12:28 AM | Likes Like |Link to Comment
  • Several Dividend ETFs Slash Their Dividends By Up To 22% [View article]

    "I bet the fund salesmen, especially those who write articles promoting VDIGX, VIG, NOBL heavily here, will not be happy to see this article out."

    You would be surprised. One frequent SA author, a Canadian fund salesman who I will not name because if I do, SA will remove my comment, blithely ignores the reality that DVK so capably describes. This is the person who DVK identified at the start of the article. As far as this person is concerned, there is nothing to be unhappy about.
    Apr 8, 2015. 11:48 AM | 10 Likes Like |Link to Comment
  • REIT ETF/ETN Showdown: REM Vs. MORL [View article]
    This DRiPer also has most of his money in other stuff.
    Apr 6, 2015. 05:56 PM | 2 Likes Like |Link to Comment
  • BP Prudhoe Bay Royalty Trust: Annual Report Indicates Termination And Shares Overvaluation [View article]
    This represents the best of Seeking Alpha. ;-)
    Apr 6, 2015. 05:53 PM | Likes Like |Link to Comment
  • Saratoga Investments: Second SBIC License Both An Opportunity And A Problem [View instapost]
    Why do you use BDCS as your sector proxy? It is based on WFBDCPX, but has the fee drag. WFBDCPX would be a more accurate proxy.
    Apr 6, 2015. 02:07 PM | Likes Like |Link to Comment
  • REIT ETF/ETN Showdown: REM Vs. MORL [View article]

    I have not done the research but anyone who is interested can easily find out.
    Apr 6, 2015. 12:57 AM | 1 Like Like |Link to Comment
  • REIT ETF/ETN Showdown: REM Vs. MORL [View article]
    If another financial crisis were to occur, the agency mREITs in MORL would prosper, just like they did last time. However, the non-agency mREITs would fail, just like they did last time. That is the biggest risk with MORL that I can see.
    Apr 5, 2015. 11:09 AM | 3 Likes Like |Link to Comment
  • REIT ETF/ETN Showdown: REM Vs. MORL [View article]
    The last time we had stagflation, much of the impetus was the wage - price spiral. Since then the labor unions have lost much of their bargaining power, and many high paying blue collar jobs have been exported to low wage areas of the world, so I find it highly unlikely that the same wage / price spiral can happen again.

    We have also had very large advancements in automation, computerization, and electronic miniaturization. My own working life was a witness to this sea change. By the time I had retired 5 years ago, I was able to do more and better software development work by myself in my home than the staff that filled several floors in a very large office building when I started in 1968.

    There are still a lot of high paying jobs, but they require very specific skills and aptitudes that only a small minority can ever hope to acquire or be born with. Those jobs are not unionized and so can never contribute to another wage / price spiral.
    Apr 5, 2015. 11:04 AM | 1 Like Like |Link to Comment
  • REIT ETF/ETN Showdown: REM Vs. MORL [View article]
    The call right will be exercised at automatic acceleration. Several different circumstances can trigger automatic acceleration:

    1) Drop of 60% in the indicative value during a single month. This corresponds to a drop of 30% of the linked index during a single month. How likely is this? Not very, but it has happened. Check the SPX during 2008-09. In Nov 2008 the SPX dropped by ~27% at its lowest point, then in December dropped by ~23% at its lowest point. I would not want to have owned any SPLX if it had existed at that time.

    2) Indicative value drops to $5. Since the indicative value starts at $25, this is an 80% drop, which corresponds to a drop of 40% in the index from its level when the ETN was first issued. Note however that when the index drops over an extended period, the ETN will drop at a rate less than 2x; see the pricing supplement for a hypothetical example of this situation. So in reality the index drop will actually be more than 40%. The lesson here is to not buy an ETN **ever** if it was first issued at the start of a long bear market. Conversely, this circumstance is very unlikely to happen if the ETN is first issued at the start of a bull market. Easy, right?

    You should read the product supplement for complete description of automatic acceleration.
    Apr 3, 2015. 11:28 AM | 4 Likes Like |Link to Comment
  • Never Invest In Gold [View article]
    If you have a crystal ball that tells you when the top is near, then of course you can avoid it. However, I am a mere mortal.
    Apr 2, 2015. 10:45 PM | Likes Like |Link to Comment
  • Moody's: Pay TV in strong position against over-the-top [View news story]
    What does 'over the top' mean?
    Apr 2, 2015. 04:33 PM | Likes Like |Link to Comment
  • Rule Of 240 [View article]
    Yes indeed (re 40 years ago): wireless service (did not exist), broadband (did not exist for the home, T1 was the standard for the Bell System), computers (PC did not exist), TVs (HD did not exist), stereos (CDs did not exist), DVDs (did not exist) - anything electronic.

    Thanks to all of this creative destruction, I was able to start working from home in 1993, which saved me a lot of time, money, and most importantly my health, and for a long time has enabled me to use my increasingly less expensive PCs and software for both work and investing. The market for the software I developed exploded right along with the electronic revolution that enabled me to develop it at home.

    As a rough guess, my hourly take home pay has increased by a factor of maybe 60 since I first started work on summer vacations, but the cost of an expensive new car has increased by maybe a factor of 20.

    My best investment was in myself.
    Apr 2, 2015. 01:16 PM | 7 Likes Like |Link to Comment