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  • Ignore Mr. Market And Focus On Digital Realty's Fundamentals [View article]
    "Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices." - Warren Buffett
    Aug 17 12:44 PM | 1 Like Like |Link to Comment
  • Are Rising Interest Rates Good Or Bad For mREITs? Duration Is The Key [View article]
    Lance,

    Yet another search of the prospectus supplement yielded the following statements on what MORL may invest in:

    ➤ acquire or dispose of long or short positions of Index constituent Securities or other securities of the Index Constituents,

    ➤ acquire or dispose of long or short positions in listed or over-the-counter options, futures, exchange traded funds or other instruments based on the level of the relevant Index or the value of the Index Constituent Securities,

    ➤ acquire or dispose of long or short positions in listed or over-the-counter options, futures, or exchange-traded funds or other instruments based on the level of other similar market indices, or

    ➤ any combination of the above three.

    Given these statements, I think it is clear that MORL can and does invest in futures.
    Aug 17 10:51 AM | Likes Like |Link to Comment
  • HCP, Inc: A Healthcare REIT For My Dividend Growth Machine [View article]
    All REITs are trusts, including the subject of this article. Their dividends are taxed at ordinary rates, and because of that they are ideal for IRAs.
    Aug 17 10:38 AM | 1 Like Like |Link to Comment
  • Are Rising Interest Rates Good Or Bad For mREITs? Duration Is The Key [View article]
    Lance,

    Followup on what MORL invests in. Neither the prospectus nor the prospectus supplement say what MORL invests in. How do you know that MORL does not invest in futures? What is your source of information?
    Aug 17 10:32 AM | Likes Like |Link to Comment
  • Kinder Morgan: Still A Dividend Machine [View article]
    In the early days of KMP, KMR did not exist.
    Aug 16 03:04 PM | Likes Like |Link to Comment
  • 5 mREITs That Survived A Hellish Quarter Yielding 14% [View article]
    That was my guess as well.
    Aug 16 12:21 PM | Likes Like |Link to Comment
  • Fed fears send stocks sharply lower; Dow -225, Nasdaq -63 [View news story]
    "Broad and deep?" - Peregrinus

    LINE/LNCO were up strongly, VNR was up, BBEP and QRE down slightly. This particular sector is going off on its own.
    Aug 15 08:05 PM | Likes Like |Link to Comment
  • How To Build An MLP ETF That Does Not Lag Its Index [View article]
    "...there are many 200% and 300% ETFs on the market today."

    This may well be true but the only leveraged ETPs I know of are ETNs, not ETFs. So I'm sticking my neck out by writing this. Can you name one 200% ETF?

    BTW I like your idea.
    Aug 15 07:59 PM | Likes Like |Link to Comment
  • Yorkville ETF Expense Ratios At 6.34% And 6.86% [View article]
    Thanks for your vigilance on this subject.
    Aug 15 07:49 PM | 3 Likes Like |Link to Comment
  • QR Energy: An Oil Focused Upstream MLP With A Large 11.50% Yield [View article]
    brktrans,

    Although AlanHHI mentioned IDRs (Incentive Distribution Rights), QRE is rare if not unique among MLPs with a general partner that has not been bought out by the limited partners in that it does not have IDRs. What it does have is a Management Incentive Fee (MIF). This fee is described in great detail in the S-1, but a very brief description is that is a quarterly fee of 0.25% (or annual fee of 1%) calculated as the discounted value of future net revenues. The general partner can take up to 80% of this fee in the form of new Class B units.

    The general partner took 80% of its 2012 4th quarter MIF in the form of additional LP units rather than cash.

    A brief description of IDRs: http://bit.ly/SOFdfR
    Aug 15 07:42 PM | 2 Likes Like |Link to Comment
  • Understanding The 3 Rs Of REITs [View article]
    Yet another failure to distinguish between short and long rates when discussing mortgage REITs and the impact of rising rates. The Fed Funds rate is short term, and presumably has a significant relation to the rates that mREITs pay for their borrowings. The Fed Funds rate has no direct (causal) relationship with long rates. mREITs make their money on the spread between short and long rates. If the spread is maintained when short rates rise, the ability of mREITs to make money is not impaired.
    Aug 15 03:11 PM | 1 Like Like |Link to Comment
  • HCP, Inc: A Healthcare REIT For My Dividend Growth Machine [View article]
    Seeking Alpha portfolios makes many dividend errors. F.A.S.T. Graphs makes the occasional error.

    Robert's web site is a good source of information, but it does not cover every stock. If a company has a web site, that is the authoritative source for its dividend information.
    Aug 15 10:21 AM | Likes Like |Link to Comment
  • The First Metric MLP Investors Should Know - Part 4 [View article]
    You are right that the yield did not make up for poor performance. Here are the 5 year annualized total returns according to Morningstar:

    NS: 7.29%
    KMP: 12.82%
    PAA: 22.58%
    Aug 14 06:51 PM | Likes Like |Link to Comment
  • How To Define Risk In Dividend-Paying Stocks [View article]
    george,

    Thanks very much. I ran my original thought past my wife who is the Access programmer in the family, and she confirmed my guess that the spreadsheet is like a table in a relational database with no external relationships, very simple. With what you've said I'm sure that we (she mostly) can run with it.

    Gotta love Seeking Alpha and all the willing contributors one meets here!
    Aug 13 08:00 PM | Likes Like |Link to Comment
  • How To Define Risk In Dividend-Paying Stocks [View article]
    george,

    Let me guess how you do this. Start with the combined sheet, remove all header and trailer rows, then use SQL statements or the Access equivalent. Am I close?
    Aug 13 07:31 PM | Likes Like |Link to Comment
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