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February 1, 2017

Click here to see the Core Portfolio which lists all current positions.

Buying NuStar individual corporate bonds.  3.8% to maturity Sept 2020.


We realize this is an anemic yield but it’s certainly better than a CD or Treasury and it matures in only four years.  And it is so difficult right now to get higher yielding investments in the income area that provides some degree of safety.  So we are buying a small position with the intent to hold to maturity.  (This bond was mentioned by Marilyn Cohen “the bond queen” on her website.  She is a high profile bond trader in California.  We have followed Marilyn for ten years with good results.)

NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 8,700 miles of pipeline and 79 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. The partnership’s combined system has approximately 94 million barrels of storage capacity, and NuStar has operations in the United States, Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, and the United Kingdom.


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According to a new poll conducted by Politico and Morning Consult, 49 percent of voters approve of Trump’s presidency so far, while 41 percent disapprove. That is a stark contrast from the latest Gallup poll, which claims only 45 percent of voters approve of how Trump has handled things in office so far, with 48 percent disapproval.


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