February 20, 2018
Update Feb 22: KCAPL is in the Core Portfolio. We have placed an order for $25.07 which would ADD to our position. This order may NOT get filled as pricing has been going up three days in a row.
Update: Incredible demand for SOHOK closing at $25.70. We continue watching in hopes of getting lower price…..which could be weeks or months in future.
Looking at SOHOK which is just starting to trade, paying over 7%. Below is a description of this new potential investment. A limit buy order has been placed at $25.00 but we anticipate the price to start much higher. So we will watch and try to get under $25.30. You will have to decide what to pay but we would NOT go any higher than 25.50
Here is some pasted copy and go to the link below for the entire article.
Lodging real estate investment trust (REIT) Sotherly Hotels (NASDAQ:SOHO) recently sold a new $25 baby bond that fits our needs perfectly. SOHO is issuing a baby bond with a coupon of 7.25% and an extremely short maturity date of 2/15/2021. I can’t remember when I have seen a baby bond issued with a maturity date this short, but it is perfect for investors in a period of rising interest rates.
The new issue will begin trading sometime in the next few days under the ticker SOHOK. Since it is a small issue of just 1.15 million shares, which includes 150,000 over allotment shares, it is likely there will be reasonably good demand and we wouldn’t be surprised to have to pay over $25 to secure the shares. Remember that baby bonds seldom trade on the OTC Grey market, so there may be little chance to be able to buy the shares under $25.
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While tax cuts may provide a temporary boost to after-tax incomes, that income will simply be absorbed by higher energy, gasoline, health care and borrowing costs. This is why 80% of Americans continue to live paycheck-to-paycheck and have little saved in the bank. It is also why, as wages have continued to stagnate, that the cost of living now exceeds what incomes and debt increases can sustain.
Yes, corporations will do well under the “tax reform” plan. Already compensation for the top 20% of income earners are seeing wages rise, while corporations have doubled their planned stock “buybacks” to boost earnings per share. But such does not increase the take-home pay for the bottom 80% of the population that drives the majority of economic growth long-term.
LOL “History” Channel Beats CNN. TOO FUNNY. Liberal fake news CNN slowly dies.
Basic Cable Top 10 – Total Day (Total Viewers)
Fox News (1,529,000)
Investigation Discovery (781,000)
NBC Sports Network (704,000)