Leave a comment

THINK TWICE BEFORE YOU VOTE DEM.

September 20, 2019. MOVIES: As Downton Abbey fans, we have been waiting for the movie version for several months. They have been promoting the hell out of this thing and they do have millions of fans. Rotten Tomatoes audience rating is 95% which is typically the highest you will see on their site.

If you are thinking about voting for one of those nitwit ultra liberal Democraps, read this: https://www.zerohedge.com/markets/cooperman-if-warren-wins-they-wont-open-stock-market

Finally, Cooperman and Wapner moved on to a discussion of the 2020 Democratic primary race. Equities haven’t seen much of an impact from politics, Cooperman said, because right now, the market is assuming that President Trump will be reelected. But if Bernie Sanders or Elizabeth Warren start gaining credibility, things could turn around in a hurry. If Warren or Sanders happened to win, they would almost certainly usher in the next bear market.

“Right now, the market is assuming Donald Trump is reelected. If it looks like Elizabeth Warren or Bernie Sanders are credible opponents, the market will go down. They won’t open the stock market if Elizabeth Warren is the next president.”

Advertisements
Leave a comment

SOME REALLY GOOD READS

September 18, 2019. We should have clarified yesterday that we own only three Ferrellgas bonds, and it is usually difficult to get bids on this small number. We are still trying to sell these. If you own ten or more, you will get a bid. Sell them.

OXLCO goes ex-dividend tomorrow. We may place a buy order at $25.34.

Although we own three Defined Maturity Bond ETFs in the Core Portfolio, we assume most people do not understand these investment vehicles. Every so often we see a really good excellent article that explains a financial product. YOUR ASSIGNMENT TODAY!!!!!!! We suggest everyone read the linked article and become familiar with defined bond ETFs. The yield is terrible for these funds right now and unless you are happy with low yields (and relative safety) this is not the time to buy, but you should be aware of the advantages they offer. https://seekingalpha.com/article/4292120-overlooked-bond-vehicle-defined-maturity-bond-etfs?ifp=0&app=1

__________

Here is another article talking about NLY preferreds, three of which we own. Again, this is not the time to buy but if you own these, read this article.

https://seekingalpha.com/article/4291771-buy-annaly-capital-managements-preferred-shares

__________

NOW IN OUR 7TH YEAR. NOTE TO NEW READERS:  Before you buy anything we discuss here, GO to the Core Portfolio tab to see a CURRENT listing of holdings. This “free” blog is designed for investors seeking income by using preferreds, BDCs, REITs, baby bonds and corporate bonds. Don’t forget to hit the like button. Go Here For “About

Colony Capital has been one of the worst positions in the Core Portfolio. We keep reading stories that they are turning this train wreck around. But it is not happening. Here is yet another discussion talking about taking 2 years to get it fixed. We have a very tiny position and will continue holding, getting the dividends.

https://seekingalpha.com/article/4291788-colony-capital-roadmap-recovery

Leave a comment

SELLING: FERRELLGAS.

September 17, 2019. When we bought the Ferrellgas Corporate Bond over two years ago, we knew it was high risk.

CUSIP: 315292AM4

As it turned out, there is nothing but bad news on this position. If we sell now, we are at breakeven: essentially we have made a few dollars when you look at Total Return. When we add in dividends, we are little above the costs. The price has declined, and will continue to head down. As of this morning we could not even get a bid on this bond so there are no buyers. A bad sign…….so we cannot sell right now. We will try again tomorrow: you want to SELL this issue. The bond matures in May 2021 so theoretically we would get our money back if we hold.

We continue to be concerned about the markets. It is NOT time to sell everything but you have to be diligent. There are numerous advisors out there talking about the markets going much higher and we hope they are right. But we are being much more careful now. Money in money market accounts paying almost nothing is better than NO money if you have lost it. lol ALSO be aware than GLADN has BEEN CALLED: the end of September.

Here is a good article on the state of the bond market.

https://seekingalpha.com/article/4291778-next-bucking-bond-bull?ifp=0&app=1

Leave a comment

SELL GBAB

Sept 16, 2019. Interest rates increased last week, affecting the Core Portfolio. GBAB Guggenheim Taxable Municipal was hit relatively hard, declining from 25.85 to 25.44.

We have a 9.7% TOTAL RETURN gain (dividends added in) in GBAB and are SELLING this position. We have way too many positions in the portfolio and quite frankly are looking for ways to reduce the number and RAISE the cash position. The China trade situation, the oil bombing in Saudi Arabia, GM strike, the FED possibly reducing rates, and numerous other problems are raising our level of concern.

__________

Mass exodus from high tax ultra liberal states. We are seeing more and more articles every week about the thousands of families moving to Texas from California, and from NY, NJ to Florida. Also big movement out of high tax Illinois. Do you think these states would ever consider CUTTING SPENDING. Link to article below.

The 83-year-old, who was born in the Far Rockaway neighborhood of Queens, has been a major figure on Wall Street for decades, and back in the 1990s, he bought a mansion on the Indian Creek island enclave in Biscayne Bay in Miami. Icahn expects all of his employees to make the move with him: Those who don’t “won’t have a job”, according to several sources from within his firm. GO TO FULL ARTICLE

Gives you an idea of how serious this is:

According to data provided to FOX Business by Geoffrey Weinstein, special counsel in the Tax, Trusts & Estates Department of Cole Schotz, an individual or couple earning $650,000 in ordinary income could save $69,719 per year by moving from New York to Florida.

NOW IN OUR 7TH YEAR. NOTE TO NEW READERS:  Before you buy anything we discuss here, GO to the Core Portfolio tab to see a CURRENT listing of holdings. This “free” blog is designed for investors seeking income by using preferreds, BDCs, REITs, baby bonds and corporate bonds. Don’t forget to hit the like button. Go Here For “About

Leave a comment

NEW BUY

September 11, 2019. We are placing a Buy Limit order for CPTAL, a TERM ‘baby bond’ that matures in May 2022. The price has recently dropped (we buy when positions are on sale) but it appears to be turning upward. The order is at $24.81 and will probably NOT be filled at this price. Due to thin trading on this issue, you will have to adjust the price, probably upward to get filled———likely $24.87.

Capitala is a BDC business development company that is investing in approximately 47 different companies.

Capitala Finance Corp., 6.00% Notes Due 5/31/2022
Ticker Symbol: CPTAL     CUSIP: 14054R304     Exchange: NGS Security
Type:   Exchange-Traded Debt Security

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Capitala Finance Corp. 6.00% Notes Due 2022, issued in $25 denominations, redeemable at the issuer’s option on or after 5/31/2019 at $25 per note plus accrued and unpaid interest, and maturing 5/31/2022. Interest distributions of 6.00% per annum ($1.50 per annum or $0.3750 per quarter) will be paid quarterly on 2/28, 5/31, 8/31 & 11/30 to holders of record on the record date that will be 2/15, 5/15, 8/15 & 11/15 respectively

Here is a good article on the effects of $15 minimum wage.

https://www.zerohedge.com/news/2019-09-09/costs-consequences-15hour

Every so often Kiplinger offers a free copy of their income newsletter. We do NOT subscribe to Kiplinger products. By the way we just learned that the local library carries numerous financial newsletters, all of which are rather expensive if you subscribe. Check out your library to see what they may offer: why pay when they are free!!!!

https://www.kiplinger.com/store/samples/kii_recent_issue.pdf

Leave a comment

QUIET

September 9, 2019. Quiet open in the markets today. We have NO hot prospects for either sells OR buys. Leaves are just starting to fall here in Chicago and we get the slowing down feeling as Fall approaches. The only buy we really want if OXLCO on Sept 20.

MOVIES: Angel Has Fallen. Nobody is seeing this movie because who wants to watch another flick about a President assassination. But it IS actually very good. High ratings on Rotten Tomatoes.

When there is an assassination attempt on U.S. President Allan Trumbull (Morgan Freeman), his trusted confidant, Secret Service Agent Mike Banning (Gerard Butler), is wrongfully accused and taken into custody.

__________

Here is an article talking about CGBD which we hold in the Core Portfolio Pays over ten percent. FULL ARTICLE

Over the last three weeks, the stock price has rallied almost 8% but it’s still likely underpriced and considered a “Buy” for conservative investors. As shown below, CGBD is underpriced compared to its peer group (using NAV per share performance) and currently offering a dividend yield of 11.5% after taking into account special dividends of at least $0.16 per share in 2019.

__________

Friday’s job report much worse than expected. Full article

A 34,000 surge in government jobs was primarily due to temporary census hiring of 25,000. So this report is far weaker than the headline number indicates.

By the way, revisions were negative for the third time.

__________

Ultra liberal whacko CNN and MSNBC troubles. hahaha🙂

CNN lost 21 percent of its already minuscule audience last week, MSNBC lost 24 percent, while Fox News grew its already enormous viewership by six percent, as TVNewser highlights.

Yep, even the massively over-hyped news about a mass shooting and a regional weather story — Hurricane Dorian — could not stop the bleeding at both of these far-left, Russia Collusion Hoax channels.

In all of cable television, throughout the 24 hour day, Fox News was numero uno for the 34th consecutive week with an average of 1.32 million total day viewers. https://www.breitbart.com/the-media/2019/09/06/hurricane-dorian-cant-save-cnn-msnbc-losing-fifth-audience/

NOW IN OUR 7TH YEAR. NOTE TO NEW READERS:  Before you buy anything we discuss here, GO to the Core Portfolio tab to see a CURRENT listing of holdings. This “free” blog is designed for investors seeking income by using preferreds, BDCs, REITs, baby bonds and corporate bonds. Don’t forget to hit the like button. Go Here For “About

Leave a comment

SELL HYHG

September 5, 2019. We bought HYHG late last year and it has steadily dropped. It is down 3.4% but if you add in dividends received, we have a Total Return which is barely positive. (We got a dividend payment two days ago.) This is dead money and it is time to SELL.

Yesterday we bought AFINP ‘on sale’ and this should give us much better results.

Everyone is talking about a recession. A local bank President told us that recession was all the talk at their recent meeting. Based on what we are reading, this is a strong possibility. We continue holding all positions in the Core Portfolio, at least for now. Having lived thru the very bad 2007-08 recession, will are not hesitant to sell everything if markets start to fall apart.

NOW IN OUR 7TH YEAR. NOTE TO NEW READERS:  Before you buy anything we discuss here, GO to the Core Portfolio tab to see a CURRENT listing of holdings. This “free” blog is designed for investors seeking income by using preferreds, BDCs, REITs, baby bonds and corporate bonds. Don’t forget to hit the like button. Go Here For “About

%d bloggers like this: