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mlonier

mlonier
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  • Is A Bird In Hand Better Than Dividends In The Bush? [View article]
    I, for one, am very interested in the development of your thoughts about a defensive framework-- whatever the investing posture, an effective, defensive risk management methodology has become more important in our globalized macro economic world than ever before.
    Oct 22 11:16 PM | 4 Likes Like |Link to Comment
  • Is A Bird In Hand Better Than Dividends In The Bush? [View article]
    disasters happen every day. risk, over the long term is hard to discount, isn't it. this is a long term discussion...

    name's mike. nice to meet you.
    Oct 25 11:29 AM | 2 Likes Like |Link to Comment
  • Is A Bird In Hand Better Than Dividends In The Bush? [View article]
    Yes. 2 words-- tokyo electric.
    Oct 22 10:57 PM | 2 Likes Like |Link to Comment
  • Market-Timing Should Be A Fundamental Component Of Income Investing: Part 1 - Why [View article]
    So here's the timer's dilemma. Jump in now or wait for a pullback? Chase those dwindling yields as they shrink in this rally, or wait for the bear to return? You were waiting, weren't you, to test support at least one more time...But now it feels like a small momentum change though the signals haven't turned yet-- the summer crash was deep and fast, and SMAs take time to change during a steady up-market, they're slow to catch a building market. Ex-div dates around every corner, and a 5% dividend isn't worth very much if you don't own it. Cash is worth far less, except as a tool to buy income.

    Maybe the Euro-pols will smooth over their mess and we won't revisit these lows for some time. Or maybe it won't work out, the Eurozone will crazh and we'll find our way half way back to 2008, yields will rise, but then maybe fall as divs are cut in the midst of a continuing recession and deep unrest. Who knows?

    So, tomorrow, do you buy T, or wait for a dip? If it moves away, do you buy even higher next week? Then buy more if and when it dips?

    If you have the cash, and you're buying income, you can't afford not to time, anymore than you wouldn't average up your yield when opportunity presents.

    Will be interesting to rear your approach to the timing dilemma.
    Sep 15 11:37 PM | 1 Like Like |Link to Comment
  • Equity CEFs: How To Get Apple At A 10-13% Discount [View article]
    Thanks for the links. It's not a simple task to deconstruct leveraged distribution, is it? This too from MS*:

    "Premium Content Morningstar's Take  ETW
    This is one of eight covered call funds run by Eaton Vance, and each has seen mixed performance results. A common denominator of all funds, however, is the extensive use of destructive return of capital. Each fund lowered its distribution rate at the end of 2010, but distributions for 2011 are shaping up to be largely categorized as return of capital. Investors should be wary."

    Read full Analyst Report
    Sep 26 10:26 AM | Likes Like |Link to Comment
  • Equity CEFs: How To Get Apple At A 10-13% Discount [View article]
    The current (and persistent) high level of return of capital in distributions from ETV, ETW, and EOS suggests that you're eating your own free lunch in these deals, and that the discount to NAV comes at a price.
    Sep 25 09:32 PM | Likes Like |Link to Comment
  • S&P 500 Strategy: Outsmart The Next Sell-Off [View article]
    why not?
    Aug 28 02:51 PM | Likes Like |Link to Comment
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