August 23, 2018. The bike is in the shop for repairs (: It is an absolutely beautiful day in Chicago and we try not to miss any opportunity to get outside. But when you don’t have any brakes, there is not much you can do!! Fall is definitely in the air.
We have some real winners in the Core Portfolio.
CTL has been spiking up recently due to good earnings and we have a huge 20% gain. In addition to price gains, we are receiving dividends.. Pays 9.6%. HOLD: too late to buy.
LADR is up a big 21% and we also have received five dividend payments. Financial advisors keep recommending this, but in our opinion it is too late to buy. HOLD. (The TOTAL RETURN IS 31%)
PCI is up 21% and in addition we have 21 dividend payments. HOLD. (The TOTAL return is 41%. We purchased in very late 2016)
CLDT is up 10% and BXMT is up 9%.
When you have significant gains, there is the potential for sellers to come in, like ourselves, and lock in the profits. BUT the indicators tell us to hold for now. Generally the entire portfolio has been gaining nicely, but with all the political news, we are watching very, very closely. We lost big time in the 2008-09 crash, and we will NOT let that happen again.
We are NOT selling anything right now.
NOTE: We are watching FRA for a potential buy-there is a description below.
This article linked below is so funny.
If Trump shot Michael Cohen in broad daylight, here’s what Republicans would say
FUND DESCRIPTION: BlackRock Floating Rate Income Strategies Fund, Inc., formerly Floating Rate Income Strategies Fund, Inc., is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The BlackRock Floating Rate Income Strategies Fund seeks to provide shareholders with high current income and such preservation of capital as is consistent with investment in a diversified, leveraged portfolio consisting primarily of floating rate debt securities and instruments. FUND STRATEGY: Under normal market conditions, at least 80% of an aggregate of the Fund’s net assets will be invested in floating rate debt securities and instruments. The Fund anticipates that a substantial portion of such investments generally will consist of senior floating rate loans. The Fund may invest without limit and generally intends to invest a substantial portion of its assets in senior floating rate loans and other floating or fixed rate debt securities and instruments that are rated below investment grade.