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BORING AS HELL BUT NICE YIELD WITH CORPORATE BOND: IRON MOUNTAIN

March 23, 2017

GO TO CORE PORTFOLIO to see current positions.  (A donate button has been added if you would like to contribute to the cause.)

The Corporate Bond from Iron Mountain provides 5.167% if held to maturity.  It matures in August 2023 BUT is callable at $103.00 in August 2018.  The CUSIP is 46284PAQ7

Here is some copy from SeekingAlpha.com:

Iron Mountain is an industry leader in storage and information management services, serving 220,000 customers in 45 countries on six continents. According to the company’s website, it serves organizations in every major industry and of all sizes, including more than 94% of the Fortune 1000, which rely on Iron Mountain as their information management partner.

The company’s business model is to provide integrated solutions to unify the management of both physical and electronic documents.

Go to the link below for a detailed description of the Company:

http://seekingalpha.com/article/4018638-premium-reit-brand-discount

(You can also buy the stock IRM that yields over 6%.)

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The CYRUSONE Corporate Bond (one of our faves in the data center arena) is being called.  We are very upset about this as the yield was high but there is nothing we can do about it.  The Company did have the option to Make Whole on the bond.  We ended up with a profit.

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Here is some interesting copy on the stock market from a free newsletter published by investyourself.com.  We suggest you subscribe.

So the question is… is that what we’re seeing right now? A new period that could take us sideways for weeks and then “boom” another spike higher? That’s what the bulls are preaching. For me, I could see that happening, yes. But as long as you understand the why of it. It is NOT because of growth. It’s not because of better economic reports. It is simply because… the system needs stocks to go at minimum sideways and at best, up.  Why? Because it’s all leveraged.
 
After the 08 melt down, they threw the kitchen sink at trying to create a wealth effect. This isn’t fantasy, as ex Dallas fed head Richard Fisher said it point blank on CNBC..”we pushed the markets higher to create a feeling of wealth”.  Yes they sure did. And in doing that, so many people figured that the Fed’s would never let the market fall that they leveraged everything to buy stocks and use them as collateral.
 
So the market is literally “rigged” to go up by the central banks of the world. If it was to really contract, the damage would spread uncontrollably. This wouldn’t be just mom and pop losing a few grand in their E-Trade accounts. This would be sovereign wealth funds, pension funds, hedge funds,insurance companies, etc. They all bought into the idea that “the Feds have my back”. And so far they do. Until they either don’t..or can’t.
 
So paranoid are they about losing that control, they haven’t even let the market fall a single percent in 100 days. That is NOT normal action folks. That is “them” buying up futures any time they even smell a correction brewing.
 
But one day, it is going to end. I don’t know the day, or the how. But it will. I will say this…this market has WANTED to pull back and clear itself many times over the last 100 days and each time, it was cut off at the knees.
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