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Open Thread: What Are You Buying/Selling/Pondering
I picked up SAFM after recent swoon (I hope) under $80. Thanks again to a friend of MFO for putting me on to it. Close hold right now since it has considerable short attention.
bough Key energy return 7% think may do well for medium-long term until 2021, cuspid 492914AS5. Transocean 893830AT68 also ~7% ytm but maturity is 2038, may need to sell it after 5-10 yrs
also bough safeway bond BBB+ also 7% ytm return...
Sold VINEX - V'rd International explorer during the recent downturn and increased the stake VDIGX - my core domestic lcap fund. Sold out SFGIX as I do not have an alternative way to increase the stake in ARKTX - Artisan International Value fund - in my Roth IRA.
In what was an adventure for me and a small test. Moved the small portion of my portfolio out of XIV that I had initiated when the VIX was over 25 and back into MOAT. Am reviewing the pros and cons of the entire exercise.
I took profits in AKREX, WGRNX and BULLX (okay not a large profit, but still) My choice if sells was based on market turning down, lack of confidence in succession planning at AKREX, manager investment in BULLX going down tremendously and reducing international exposure with WGRNX.
I purchased SEEDX, SCMFX. Going to be really careful how I increase holdings here.
I added to DEFIX, COBYX, FVALX.
Put OAKBX, GLRBX, PRBLX on watchlist (I own first two in my largely balanced IRA for a while).
I also harvested profits in bunch of Artisan international and global fund. Added to ARTQX.
I mentioned recently when I sold PTHDX, CVLOX that I bought FEBAX and CIPYX. I added to both these as well.
Bought BBL Monday @51.91. I'm not sure the bottom's in for commodities, but I think the dividend is safe (4.8% yield) and that it will be one of the long-term winners.
I'm eyeing ESV, KKR, and maybe adding to my position in GM.
Moderate concerns over EM and the view (and I'm willing to be wrong) that ME/Africa equities are a bit overvalued. Also, felt the need to take risk down a little and shifted it to other things.
I may wind up being wrong but if I am, had a nice little run with TRAMX.
This is an update on my spiff position that I averaged into with, about equal, positions bought at 1960's, 1920's, 1870's 1840's & 1910's. As of the close of today I am up better than four percent with a market close on the S&P 500 Index of 1982 since my last update of 10/21/2014 which is detailed below.
October 21, 2014
I thought I'd update the board on the special investment position (spiff) I made in what turned out to be a downdraft in the S&P 500 Index as it did pull back about ten per cent from its recent high of about 2020 to a recent low in the 1820 range. As I write, the Index is selling for about 1920 and my spiff went in the money at 1905. Should the Index reach 2100 as forecast by some for its yearend close then this will result in better than a ten percent return for this spiff. If for some reason this turns on me I'll be collecting a good yield and time is on my side for this spiff to work as I am an investor rather than a trader although I have, at times, sold off some of my spiffs once they have reached a targeted goal or to rebalance my portfolio.
I thought the earnings call was good and can't help but think future remains bright for OAK.
So, took opportunity pick up more.
Almost KKR as well. But not quite yet. I've grown concerned that they will not be able to maintain dividend at current yield. And when they announce that...all hell will break lose.
Almost KKR as well. But not quite yet. I've grown concerned that they will not be able to maintain dividend at current yield. And when they announce that...all hell will break lose.
OAK was a little disappointing on the surface but I think it was positive in a lot of regards. I'll just keep reinvesting dividends. I think a fair amount of negativity in the private equity sector was also generated by Carlyle Group (CG), so all of those names (KKR, BX, etc) were down.
If anyone buys KKR expecting the dividend to maintain consistently at that level, it most likely is not. None of these private equity companies (BX, APO too) pay a consistent dividend - they often pay a very nice dividend, but it can vary significantly, sometimes from quarter-to-quarter. If KKR's dividend comes down to a more realistic level and people sell because they expected it to maintain a double digit yield, that would be the time to buy if you wanted to.
Added a little to BPY, MHG, STWD. Happy with V/MA today, certainly, but not adding any more.
Comments
Regards,
Ted
Close watch list: BRK, PCP, MKL, KKR, BA, XOM, OXY, HES, AIG, APA, AMZN.
Will look to add to current equity holdings on market pull-backs. Particulary, HCP, GE, SCHN.
Transocean 893830AT68 also ~7% ytm but maturity is 2038, may need to sell it after 5-10 yrs
also bough safeway bond BBB+ also 7% ytm return...
oil/energy also looks very cheap/beat down now
My choice if sells was based on market turning down, lack of confidence in succession planning at AKREX, manager investment in BULLX going down tremendously and reducing international exposure with WGRNX.
I purchased SEEDX, SCMFX. Going to be really careful how I increase holdings here.
I added to DEFIX, COBYX, FVALX.
Put OAKBX, GLRBX, PRBLX on watchlist (I own first two in my largely balanced IRA for a while).
I also harvested profits in bunch of Artisan international and global fund. Added to ARTQX.
I mentioned recently when I sold PTHDX, CVLOX that I bought FEBAX and CIPYX. I added to both these as well.
These are all taxable portfolio moves of course.
http://seekingalpha.com/article/2379515-hess-mlp-will-unleash-even-more-shareholder-value
I'm eyeing ESV, KKR, and maybe adding to my position in GM.
I may wind up being wrong but if I am, had a nice little run with TRAMX.
Edited to add:
Added a little to Archer Daniels Midland (ADM).
This is an update on my spiff position that I averaged into with, about equal, positions bought at 1960's, 1920's, 1870's 1840's & 1910's. As of the close of today I am up better than four percent with a market close on the S&P 500 Index of 1982 since my last update of 10/21/2014 which is detailed below.
October 21, 2014
I thought I'd update the board on the special investment position (spiff) I made in what turned out to be a downdraft in the S&P 500 Index as it did pull back about ten per cent from its recent high of about 2020 to a recent low in the 1820 range. As I write, the Index is selling for about 1920 and my spiff went in the money at 1905. Should the Index reach 2100 as forecast by some for its yearend close then this will result in better than a ten percent return for this spiff. If for some reason this turns on me I'll be collecting a good yield and time is on my side for this spiff to work as I am an investor rather than a trader although I have, at times, sold off some of my spiffs once they have reached a targeted goal or to rebalance my portfolio.
I wish all ... "Good Investing."
Old_Skeet
Latest Fact Sheet Here.Heavy on Argentine Gov Bonds!
http://highlandfunds.com/wp-content/uploads/2014/10/Global-Allocation-Fund-Sheet-September-2014.pdf
Also,Mark Mobius' latest on EM and investor psychology .(source courtesy of Seeking Alpha) http://seekingalpha.com/article/2612695-focus-on-long-term-fundamentals-not-fears )
http://mobius.blog.franklintempleton.com/2014/10/28/focus-fundamentals-fears/?nicamp=&nichn=markmobius&nismseg=retailsite&bps=bpspg
Also bought a falling knife,VET .
Related:
http://online.wsj.com/articles/energy-boom-can-withstand-steeper-oil-price-drop-1414627471?
Not to get political,but here are some tax and environmental issues as the fracking process expands.I do not live in any area or state mentioned.
"No one wants to kill off something so lucrative, but not everyone is sharing equally in the spoils. What’s more there is still very little known about the environmental and health effects of having dense clusters of drilling activity so close to communities that never had it before.What do you think?
Which is why fracking now features prominently in four state governors races heading into Nov. 4. In addition some analysts are saying a Texas city located in the heart of southern gas country that is seeking to ban fracking could serve as a bellwether for similar measures passing throughout the country."
http://fusion.net/story/23955/frack-the-midterms-5-contests-that-could-transform-u-s-oil-and-gas-drilling/
I thought the earnings call was good and can't help but think future remains bright for OAK.
So, took opportunity pick up more.
Almost KKR as well. But not quite yet. I've grown concerned that they will not be able to maintain dividend at current yield. And when they announce that...all hell will break lose.
If anyone buys KKR expecting the dividend to maintain consistently at that level, it most likely is not. None of these private equity companies (BX, APO too) pay a consistent dividend - they often pay a very nice dividend, but it can vary significantly, sometimes from quarter-to-quarter. If KKR's dividend comes down to a more realistic level and people sell because they expected it to maintain a double digit yield, that would be the time to buy if you wanted to.
Added a little to BPY, MHG, STWD. Happy with V/MA today, certainly, but not adding any more.