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Open Thread: What Are You Buying/Selling/Pondering
Out of Phillips 66 (PSX), added to long-term holding Intercontinental Exchange (ICE). May add Canadian Nat Resources (CNQ) or Suncor (SU) if either drops under $30.
Since the first of the year I have nibbled around the edges in a few things. They are emerging markets, Europe, metals, miners, commodities, materials and energy. And, I recently opened a new position in an international small & mid cap fund (AJVAX).
Currently, I was thinking about Slick’s recent post … With this, I was thinking now that the S&P 500 Index is at, or towards, an all time high (2115) I’d sell a little of my spiff which I opened back in October and have an average cost in at about 1905. I have about five buy steps in this spiff so I am thinking of selling one of the steps off and probably will. I’d be getting about an eleven percent return from an average cost perspective.
And, I might do a little buying in either PGUAX or PGROX (maybe a couple more) should there be a nice dip develop in the markets between now and the coming (March 5th) full moon.
For my portfolio as a whole year-to-date has had a positive return of about 3.0% while the Lipper Balanced Index has retruned about 2.7%. In addition, all fifty three funds held have had positive returns.
So right now score me as just fiddling and watching rather than playing.
Sold some MCD for $99 ...just about what its worth, plus tired of bad publicity and Public perception,( took the cap. Gains hit), and $1.00 hamburgers......not my style of business
I've joined the herd and bought some HEDJ. I've also added to my PJP position. I sold my FRESX holding about 2 weeks ago. It had a great 2014 but 2015 and beyond aren"t looking as kind to this fund as I had hoped.
In terms of pharma, the newer CEF from the managers of HQH and HQL, THQ, is trading at a nearly 9% discount to NAV, plus offers monthly divs. HQH and HQL with the longer track records are currently trading at a premium.
In the last few weeks I bought GBP vs. both the euro and the yen. I sold WU, which finally hit my target price after 2.5 years. I added to HEDJ. Early in the month I reduced MAPIX and PTSGX roughly when the S&P hit an all-time high. I currently have orders below the market to buy HEDJ, DXJ, SBIO and NCR. I have sell orders above the market on EXC and HQL (just a small reduction to manage position size).
Added: Euro against $, down -1.4% at noon, EST. -1.6% at 1pm
Lastly, geez; I/we could use some warm weather soon, eh?
Regards, Catch
Thanks Catch. I'll look into FHLC but I've been really happy with PJP. I've also owned FBIOX for almost 2 years. This one's starting to go parabolic. While I'm glad to see the steep upturn, I can't help but wonder how long it will be before this fund and the entire biotech sector pulls back. I'm holding onto some cash in anticipation. I'm in it long term, so I expect the volatility.
Weather should turn warmer come Sunday/Monday and finally get close to normal temps. Here's hoping the weather dudes and dudettes are right : )
Haven't touched anything in a while...David has me too busy with MFO! (Well, that and trips to Monterey, Malibu, Los Olivos, etc. You know how it goes...)
Stocks, just five: BAC, AIG, AA, HCP, OAK.
Except for AIG, all under-the-weather lately. HCP and AA just under 200-day average, so on close watch.
Funds, just four: FAAFX (no pity please), SIGIX, DODGX, and DODBX.
Not that some healthcare sectors will remain the only sector; but I expect more consolidation within bio and pharma areas. More takeovers of the smaller by the larger. Money is cheap for this adventure and cheaper than trying to build it yourself thinking. I don't believe this ride is over just yet; but I agree this sector may remain "exciting".
We purchased DPLO just after IPO last October. We were familiar with the organization when it was private for the past 30 years and knew it was a properly formed and operated business. Today, DPLO finalized a buy of another speciality drug company (private, no public stock) and DPLO popped 18% today. It had been moving sideways for several weeks in the mid-20's. Some of today's move will likely leave tomorrow, but..... DPLO Fido link
I feel more of this type of activity lies ahead.
Take care and enjoy the young ones...........the clock will move too fast for this.
Would like to get back in, just not sure it will ever break-out.
The stock seems to harbor considerable reluctance, resentment, and skepticism...likely brought on by sins of its past...despite recent attempts to restructure.
Some folks, like Scott, point to its leadership reneging on promises to maintain its dividend through through times (circa 2008/9).
Others seem to have less-than-zero faith in current CEO Jeffrey Immelt.
Perhaps these events are related?
In any case, the fund has been stagnant for the past year, plus.
I guess I too am looking for a signal that its (stock) future will be different.
Not much change from our portfolio. Still 80.20 at tsp distributions. Picked up several energy bonds (rig) and got hammered lost about 10% but slowly gain back. Also before bought stable restaurant chain Darden restaurant bonds nicr yield ytm but have go leave in portfolio for long term.
I am really scare about this market we are overdue for large correctuo. Or another recession. Told my mom that she will retire in 12 months to bail market and leave everything in bonds
Would like to get back in, just not sure it will ever break-out.
The stock seems to harbor considerable reluctance, resentment, and skepticism...likely brought on by sins of its past...despite recent attempts to restructure.
Some folks, like Scott, point to its leadership reneging on promises to maintain its dividend through through times (circa 2008/9).
Others seem to have less-than-zero faith in current CEO Jeffrey Immelt.
Perhaps these events are related?
In any case, the fund has been stagnant for the past year, plus.
I guess I too am looking for a signal that its (stock) future will be different.
c
For me, the dividend thing was upsetting because, if I remember correctly, a "the dividend is fine" statement was something like a few days before the dividend was cut the next Monday. I believe there was a class action about this, if I remember correctly.
Anyways, recently GE has been in the right place at the right time (fracking) and yet, the stock has remained stagnant and still well under 2008 levels (it's at about the same level it was at in 1998.)
I do think dropping NBC Universal was the right choice, but some right choices in recent years haven't seemed to matter much - nor has the backlog of orders, which I believe remains significant. I do still think Immelt probably has to go because there is a loss of faith to some degree (or a loss of faith from the company's actions in 2008 that never really came back much) or starting to spin off parts and pieces.
That said, look at Danaher (DHR), which is an interesting industrial conglomerate that is sort of a hybrid of an industrial conglomerate and private equity company. Danaher is up over 18,000% since inception and I don't think I've ever heard the name in financial media.
Added SFREX and GLOFX. Sold most of HDSPX because it's too heavy in Texas and Trinity Industries (just not my type of company). Reduced GPEOX. Lightened up on WSCVX but kept big position in WSVIX.
Increased position in GASFX. Does anyone have any suggestions for taking advantage of the current energy distress? Something long term, with reliable dividends?
Increased position in GASFX. Does anyone have any suggestions for taking advantage of the current energy distress? Something long term, with reliable dividends?
The Canadian oil companies have been wrecked from the standpoint of as bad as things are here, they're worse there. In terms of US investments in Canada, the currency is also down substantially.
ENY is the Canadian energy income ETF. However, what I particularly like are two "MLP-like" entities, Enbridge Income Fund (EBGUF) and Inter-pipeline (IPPLF). Both have a mix of pipelines and storage assets, although IPPLF actually does have a European storage business. Inter-pipeline is big and transports I believe around 30% of Canada's energy. Both are subject to withholding, but pay monthly dividends and, despite being MLP-like, do not require K-1's. IPPLF just announced a record quarter (http://www.interpipeline.com/news/news-releases.cfm?newsReleaseAction=view&releaseId=226)
Intercontinental Exchange (ICE) is a large holding and a long-term position. The company owns futures markets in the US, Canada, Europe and Asia, not to mention the NYSE. The futures markets are electronic and ICE handles a huge amount of energy trading. As energy got more volatile in recent months, ICE has seen greater volume and had a very good quarter the other week where the stock ramped - as oil has gone down, ICE has actually gone the other way. To me, the appeal is that you have a company whose network is a substantial part of the backbone of financial markets.
Sort of an "outside the box" play on energy from the standpoint of owning the futures markets. In terms of commodity futures markets, your options are pretty much CME or ICE and ICE's electronic network (not to mention its push around the globe) has resulted in that stock outperforming CME. ICE to me has a bit of the same appeal as Visa/Mastercard in that you have this massive network, there's high barriers to entry and the more volume, the better. It is a volatile stock, but a long-term holding that have no plans on selling for quite some time.
Pipelines are doing well, it seems, although I continue to favor best/biggest, so active management is more appealing than index. I'd suggest individual names, but I don't know if you want to deal with K-1's. Without a K-1, you could go with Kinder (KMI), which is famed for its massive energy transit network, but actually does produce oil, as well.
There's also industrial companies where energy is the feedstock for the product and if this continues for a while, those companies will continue to do well with the cheap input cost.
Not sure of a pure energy play that would provide reliable dividends, especially if this gets worse, goes on for a long period. Exxon/Conoco/Chevron are likely the safest bets, although again, it becomes how long does this situation last.
Lastly, the Canadian banks have been hit with the downturn in energy, including BNS, BMO, RY and others.
(loans and some bonds, including a bunch from the energy sector with good fundamentals that got hit with the rest of the selloff; some leverage; earned yield over 9%; TTY over 10%.) just because i like you, oj
Increased position in GASFX. Does anyone have any suggestions for taking advantage of the current energy distress? Something long term, with reliable dividends?
@Old_Joe- I hanging on to CEM, the Clearbridge MLP CEF. Price of this fund irrationally follows the price of oil, even though the MLPs in the fund are in the business of transporting oil and gas, not exploration or production. The yield is good and the fund can be bought at a significant discount. No K-1 to worry about.
@Old_joe A few months ago added INFIX , fund of mlps which has a nice 6.9% dividend.
Still holding on to WWAV and SKX, with some tight stop losses on them. Did some nibbling on NXPI and CTSH this ;last week; these additions are part of my trading stock allocations. Now up to my limit in this category- total of 6 stocks. My other stocks are part of my core holdings.
Well since we last spoke I sold my position in COP (will wait for a better tape), swapped PEO for FENY (still believe in the premise), added to CHSCL, bought BHP Billiton ADR as a commodity play/addition and swapped OAK for BX which has better numbers in every comparable metric measured or looked at. Otherwise I am mostly still sitting on my hands.
@Old_Joe no K-1s since it is a fund, you don't own the mlps directly, the fund does. Mark, I like BX too, when I free up some cash will be adding to my position in BX.
Well since we last spoke I sold my position in COP (will wait for a better tape), swapped PEO for FENY (still believe in the premise), added to CHSCL, bought BHP Billiton ADR as a commodity play/addition and swapped OAK for BX which has better numbers in every comparable metric measured or looked at. Otherwise I am mostly still sitting on my hands.
Hey, a fellow CHS preferred holder.
I keep thinking about BHP, but haven't done anything.
Comments
Since the first of the year I have nibbled around the edges in a few things. They are emerging markets, Europe, metals, miners, commodities, materials and energy. And, I recently opened a new position in an international small & mid cap fund (AJVAX).
Currently, I was thinking about Slick’s recent post … With this, I was thinking now that the S&P 500 Index is at, or towards, an all time high (2115) I’d sell a little of my spiff which I opened back in October and have an average cost in at about 1905. I have about five buy steps in this spiff so I am thinking of selling one of the steps off and probably will. I’d be getting about an eleven percent return from an average cost perspective.
And, I might do a little buying in either PGUAX or PGROX (maybe a couple more) should there be a nice dip develop in the markets between now and the coming (March 5th) full moon.
For my portfolio as a whole year-to-date has had a positive return of about 3.0% while the Lipper Balanced Index has retruned about 2.7%. In addition, all fifty three funds held have had positive returns.
So right now score me as just fiddling and watching rather than playing.
Old_Skeet
perception,( took the cap. Gains hit), and $1.00 hamburgers......not my style of business
I recall you use Fidelity. We have added to our FHLC holding, which is more so targeted (60%) towards pharma and biotech.
Fido composition view of this etf
Added: Euro against $, down -1.4% at noon, EST. -1.6% at 1pm
Lastly, geez; I/we could use some warm weather soon, eh?
Regards,
Catch
Long HQL, THQ.
Weather should turn warmer come Sunday/Monday and finally get close to normal temps. Here's hoping the weather dudes and dudettes are right : )
Stocks, just five: BAC, AIG, AA, HCP, OAK.
Except for AIG, all under-the-weather lately. HCP and AA just under 200-day average, so on close watch.
Funds, just four: FAAFX (no pity please), SIGIX, DODGX, and DODBX.
All-in currently...steady as she goes (I wish).
c
Not that some healthcare sectors will remain the only sector; but I expect more consolidation within bio and pharma areas. More takeovers of the smaller by the larger. Money is cheap for this adventure and cheaper than trying to build it yourself thinking.
I don't believe this ride is over just yet; but I agree this sector may remain "exciting".
We purchased DPLO just after IPO last October. We were familiar with the organization when it was private for the past 30 years and knew it was a properly formed and operated business.
Today, DPLO finalized a buy of another speciality drug company (private, no public stock) and DPLO popped 18% today. It had been moving sideways for several weeks in the mid-20's.
Some of today's move will likely leave tomorrow, but.....
DPLO Fido link
I feel more of this type of activity lies ahead.
Take care and enjoy the young ones...........the clock will move too fast for this.
Catch
Would like to get back in, just not sure it will ever break-out.
The stock seems to harbor considerable reluctance, resentment, and skepticism...likely brought on by sins of its past...despite recent attempts to restructure.
Some folks, like Scott, point to its leadership reneging on promises to maintain its dividend through through times (circa 2008/9).
Others seem to have less-than-zero faith in current CEO Jeffrey Immelt.
Perhaps these events are related?
In any case, the fund has been stagnant for the past year, plus.
I guess I too am looking for a signal that its (stock) future will be different.
c
I am really scare about this market we are overdue for large correctuo. Or another recession. Told my mom that she will retire in 12 months to bail market and leave everything in bonds
Anyways, recently GE has been in the right place at the right time (fracking) and yet, the stock has remained stagnant and still well under 2008 levels (it's at about the same level it was at in 1998.)
I do think dropping NBC Universal was the right choice, but some right choices in recent years haven't seemed to matter much - nor has the backlog of orders, which I believe remains significant. I do still think Immelt probably has to go because there is a loss of faith to some degree (or a loss of faith from the company's actions in 2008 that never really came back much) or starting to spin off parts and pieces.
That said, look at Danaher (DHR), which is an interesting industrial conglomerate that is sort of a hybrid of an industrial conglomerate and private equity company. Danaher is up over 18,000% since inception and I don't think I've ever heard the name in financial media.
DHR vs GE:
http://finance.yahoo.com/echarts?s=DHR+Interactive#{"range":"max","scale":"linear","comparisons":{"GE":{"color":"#cc0000","weight":1}}}
GE vs some peers 10yr chart:
http://finance.yahoo.com/echarts?s=GE+Interactive#{"range":"10y","scale":"linear","comparisons":{"HON":{"color":"#cc0000","weight":1},"EMR":{"color":"#009999","weight":1},"SIEGY":{"color":"#ff00ff","weight":1}}}
ENY is the Canadian energy income ETF. However, what I particularly like are two "MLP-like" entities, Enbridge Income Fund (EBGUF) and Inter-pipeline (IPPLF). Both have a mix of pipelines and storage assets, although IPPLF actually does have a European storage business. Inter-pipeline is big and transports I believe around 30% of Canada's energy. Both are subject to withholding, but pay monthly dividends and, despite being MLP-like, do not require K-1's. IPPLF just announced a record quarter (http://www.interpipeline.com/news/news-releases.cfm?newsReleaseAction=view&releaseId=226)
Intercontinental Exchange (ICE) is a large holding and a long-term position. The company owns futures markets in the US, Canada, Europe and Asia, not to mention the NYSE. The futures markets are electronic and ICE handles a huge amount of energy trading. As energy got more volatile in recent months, ICE has seen greater volume and had a very good quarter the other week where the stock ramped - as oil has gone down, ICE has actually gone the other way. To me, the appeal is that you have a company whose network is a substantial part of the backbone of financial markets.
Sort of an "outside the box" play on energy from the standpoint of owning the futures markets. In terms of commodity futures markets, your options are pretty much CME or ICE and ICE's electronic network (not to mention its push around the globe) has resulted in that stock outperforming CME. ICE to me has a bit of the same appeal as Visa/Mastercard in that you have this massive network, there's high barriers to entry and the more volume, the better. It is a volatile stock, but a long-term holding that have no plans on selling for quite some time.
Edited to add: a favorite article re: ICE http://seekingalpha.com/article/2084353-intercontinentalexchange-bet-on-the-dealer
Pipelines are doing well, it seems, although I continue to favor best/biggest, so active management is more appealing than index. I'd suggest individual names, but I don't know if you want to deal with K-1's. Without a K-1, you could go with Kinder (KMI), which is famed for its massive energy transit network, but actually does produce oil, as well.
There's also industrial companies where energy is the feedstock for the product and if this continues for a while, those companies will continue to do well with the cheap input cost.
Not sure of a pure energy play that would provide reliable dividends, especially if this gets worse, goes on for a long period. Exxon/Conoco/Chevron are likely the safest bets, although again, it becomes how long does this situation last.
Lastly, the Canadian banks have been hit with the downturn in energy, including BNS, BMO, RY and others.
(loans and some bonds, including a bunch from the energy sector with good fundamentals that got hit with the rest of the selloff; some leverage; earned yield over 9%; TTY over 10%.) just because i like you, oj
Still holding on to WWAV and SKX, with some tight stop losses on them. Did some nibbling on NXPI and CTSH this ;last week; these additions are part of my trading stock allocations. Now up to my limit in this category- total of 6 stocks. My other stocks are part of my core holdings.
I keep thinking about BHP, but haven't done anything.