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Sold out of electric utility PNM. (Investor abuse issues coming from the outfit which the company chose to handle stock transactions by remote control, "Computershare.") The proceeds will be split into PTIAX and IOFIX.
@Crash: I also sold out of my utilities, but for different reason. PNM makes no money on me because I have solar panels I sold out because I was overweight utilities and saw higher interest rates as a negative for that sector. Put proceeds into MAPOX.
place a small portions in PIY [Merrill Lynch preferred stocks very high yield - no defaults and always pay div even price is low] and PHK few days ago. Waiting for more dividends income 4/1/2018, maybe add more
@johnN: Be careful, as long as you understand what you bought. Merrill Lynch Depositor Inc., PreferredPlus, 8.375% Trust Certificates, PreferredPlus Trust Series CZN-1, stated amount $25 per certificate, underlying securities are the 7.05% Debentures due 10/01/2046, issued by Citizens Utilities Co., then Citizens Communications Co., now Frontier Communications Corp. (NYSE: FTR Regards, Ted
Hi Ted Thx Ted did not see that when bought it. when its too good to be true its probably not true. will sell it and take small loss. that is why div did not come into bank account yesterday [due 3/28 was wondering if it will get there 4/1]
what dividend stocks/etf are you buying- ? still adding PFF or Hertz corp, thx for any suggestions
What!!??? Has hell froze over? Ted referencing SA. That's it for me.
Added to my utility fund UTG. Added to my REIT fund RQI. Added to PRGTX and POAGX following Tuesday's hit. Sold one of my MLP funds TYG. Thinking of buying either AAPL or ABBV. Maybe both.
Where do I start? I sold out of XSLV and a portion of PIMIX. I bought VYMI and FUTY for the dividends mainly. Utilities in general seem pretty undervalued and a good hedge when the market tanks.
@Crash: Just what was the situation with Computershare that lite your fire ? Thanks, Derf
Some of the problem is the same sort of stuff that goes on whenever you call "Customer Service." They bend over backwards to be polite, but don't fix the issue you called about. I sent a check, I think it was last November. It never registered in my account as pending, after a LONG time. (Trades are made only in a big lump on Wednesdays only.) When I finally called about it, I got a woman in Manila who almost spoke English. I have daily personal experience with this. And I love her to death. But when I'm on a cell=phone and she (the agent) is on a cell-phone half a world away, and they don't know what tenses and prepositions are... well, it's damned difficult to be understood or to understand them. I called again, and happened to get a USA person somewhere, who advised me to put a stop on the check.... A week later, the STOPPED check showed up as pending. So, I had to chase THAT down.
The second bungle is more recent. I sent (always by standard 1st class mail) a check and they claimed they just received it on the day I called, 6 days after I sent it. (Massachusetts to Louisville.) Because of both of these problems, the (same) Supervisor advised me again that I might just want to send my checks by registered mail. What a bunch of crap. Even if I did so, it would change nothing at THEIR end. It would just cost ME more. I emailed a complaint directly to the PNM liaison, who forwarded it to the special, wonderful Computershare person. They said my complaint was invalid because I was annoyed and rude. So, instead of fixing the issue, they blamed the victim. So, I'm outa there.
I didn't know anyone sent a check to by a stock anymore. Is computershare a brokerage?That might be part of the problem. You may be using a process that isn't well supported. Working within a brokerage house might elevate some of your frustration, simplify things. Mail, paper checks and telephone calls can be eliminated. Just a suggestion.
@Crash: Thanks for the explanation. I have a few shares (MET) through them or at least I think it's one in the same. Guess I'll check the spelling to see if I'm right or wrong. Happy Easter, Derf
Forty year old Aussie company providing global services.
One can imagine that a small utility company, as with PNM; doesn't have a paid employee running an investor stock trading platform. Computershare's client list appears to be very large, servicing the small through the very large corporate community.
Thanks @catch22. You can learn something new everyday.
Interesting "middleman" I guess. It makes sense that companies would use a middleman to reduce their own costs of processing smaller buys. Not sure why anyone would choose this platform over a Schwab or Fidelity or other brokerages though. @crash, what benefit do you see over a more typical investment brokerage?
@MikeM: hello. The initial advantage is the very small minimum required just to get in, to get your foot in the door, unlike the typical $2,500 with mutual funds. (I'm reminded of the Amana funds, which I do not own.) I looked carefully at the PNM plan through Computershare before buying. Expenses are very low. Some of the other companies who use C'share have stinky plans, with fees out the ying-yang. ...I can well understand their M.O. which is to consolidate a bazillion small checks and buy shares only on Wednesdays. I just sold-out of it completely, and both Market-orders and Limit-orders carry the same fees.... I tracked the company (PNM) itself for quite a while, of course, before buying. They were doing great, and then just pretty good. But I won't buy PNM again by another means. Bad taste in my mouth.
Computershare is a transfer agent just like US Bancorp is a transfer agent for many mutual funds. I have several individual stocks with ADR.com (JP Morgan), Wells Fargo Shareowner online (now Equinti resulting from acquisition of Wells Fargo transfer services), AST (American Stock Transfer Trust), Continental Stock Transfer and Trust and Broadridge to name a few. Fees can be cheaper than a brokerage, but you cannot sell or make a purchase on your specific date. Purchase prices are determined usually by several days of average purchase price.
@MikeM: . Not sure why anyone would choose this platform over a Schwab or Fidelity or other brokerages though. I connected with Computershare when Met Life Ins went public. Can you imagine how many individual received shares? I also also have another connection as MET spun off Brighthouse Financial. I don't remember about a sales charge being mentioned for the first share deal. With Brighthouse shares it came out in info that was sent out.
Began buying back CEFs in Feb, but as a much smaller part of the port (so far) than 2016-H1/2017: KIO, PDI, PFN so far, looking to add PCI and possibly BGB or BGX on a bit more of a dip.
Lots of muni CEFs look cheap per discounts and z's, but largely for a reason - in many cases, still losing NAV, declining coverage, little to negative UNII. Not quite ready for them, but did put in a small position in TLT in the $119s for the beginnings of a pure, solid equity/credit offset. Long T's have rallied nicely with the (at least short term) change in rate direction.
Considering GGSOX, ROSOX (own RNWOX), and adding to Matthews at some point in this stock merry-go-round, but don't have price or technical triggers figured just yet. MMHAX might be another add if rates appear to stabilize or decline further.
Getting back to @Crash and his original post...obviously utilities have "sucked' lately, but PRWCX is "positive on Utes over the next decade"...@Ted long standing call for "QQQ" (which exists) may be replaced with "UUU" (which doesn't exist).
Getting back to @Crash and his original post...obviously utilities have "sucked' lately, but PRWCX is "positive on Utes over the next decade"...@Ted long standing call for "QQQ" (which exists) may be replaced with "UUU" (which doesn't exist).
Also reminds me of how often, all those years ago in my teens, I'd read in the paper that the insurance companies would approach that criminal--- Billy Bulger (not Whitey)--- whose official title was Insurance Commissioner, asking for rate increases year in and year out. Billy always just said, "Sure! Great idea!" Fox in charge of the henhouse. Same with all the federal agencies and regulators.
An important qualifier to the Giroux comments on utilities begins at 17:08. He emphasizes that he's not talking about traditional utes as they exist today, but as they're certain to evolve over the time frame he's talking about -- to include more renewables, to service electric vehicles, to retire coal plants in favor of cheaper wind and solar. He's looking ahead, not behind.
I started to add that market-cap ute funds may not capture that dynamic for a while, but I remembered reading recently that even mega-ute Duke E'gy has a significant renewables program going, so maybe a ute etf would fit the Giroux narrative.
I agree with Andy J on David Giroux's thesis on utilities while FANG stocks have dominated the limelight, especially Facebook. He has done well this volatile year and leading the asset allocation funds. The cash position has decreased to a single digit and the bond allocation is still under-weighted.
My thinking behind purchasing FUTY is that it may continue to struggle a bit over the next year or so, but the dividends are attractive and it holds up better than many other sectors on those really bad days. DCA'ing into utilities over the next year doesn't seem like an outrageous move at this time.
I'd add that semi-odd-duck GLFOX has started to show some signs of life after a rare period of underperformance. Classed as infrastructure, half utes, half industrials, 3/4 Europe, 30% midcaps ... It's US$ hedged, so the flattening out of the buck likely has something to do with the very recent uptick.
Added a bit to POGRX today with the market down and a hard hit to one of its top holdings.Bought it in 2013 but had not added since then. It was the right time(unless it goes dramatically lower from here which is possible)
Comments
Regards,
Ted
FTR Eliminates Its Dividend:
https://seekingalpha.com/article/4152787-frontier-communications-drops-bomb
Thx Ted did not see that when bought it. when its too good to be true its probably not true. will sell it and take small loss. that is why div did not come into bank account yesterday [due 3/28 was wondering if it will get there 4/1]
what dividend stocks/etf are you buying- ? still adding PFF or Hertz corp, thx for any suggestions
Added to my utility fund UTG. Added to my REIT fund RQI. Added to PRGTX and POAGX following Tuesday's hit. Sold one of my MLP funds TYG. Thinking of buying either AAPL or ABBV. Maybe both.
Regards,
Ted
Thanks, Derf
The second bungle is more recent. I sent (always by standard 1st class mail) a check and they claimed they just received it on the day I called, 6 days after I sent it. (Massachusetts to Louisville.) Because of both of these problems, the (same) Supervisor advised me again that I might just want to send my checks by registered mail. What a bunch of crap. Even if I did so, it would change nothing at THEIR end. It would just cost ME more.
I emailed a complaint directly to the PNM liaison, who forwarded it to the special, wonderful Computershare person. They said my complaint was invalid because I was annoyed and rude. So, instead of fixing the issue, they blamed the victim. So, I'm outa there.
Happy Easter,
Derf
Computershare, Everything You Always Wanted To Know
Forty year old Aussie company providing global services.
One can imagine that a small utility company, as with PNM; doesn't have a paid employee running an investor stock trading platform. Computershare's client list appears to be very large, servicing the small through the very large corporate community.
Interesting "middleman" I guess. It makes sense that companies would use a middleman to reduce their own costs of processing smaller buys. Not sure why anyone would choose this platform over a Schwab or Fidelity or other brokerages though. @crash, what benefit do you see over a more typical investment brokerage?
I don't remember about a sales charge being mentioned for the first share deal. With Brighthouse shares it came out in info that was sent out.
Happy Easter,
Derf
Lots of muni CEFs look cheap per discounts and z's, but largely for a reason - in many cases, still losing NAV, declining coverage, little to negative UNII. Not quite ready for them, but did put in a small position in TLT in the $119s for the beginnings of a pure, solid equity/credit offset. Long T's have rallied nicely with the (at least short term) change in rate direction.
Considering GGSOX, ROSOX (own RNWOX), and adding to Matthews at some point in this stock merry-go-round, but don't have price or technical triggers figured just yet. MMHAX might be another add if rates appear to stabilize or decline further.
If you have not listen to David Giroux commentary:
https://wealthtrack.com/how-david-giroux-delivers-stock-market-performance-with-much-less-risk/
https://digboston.com/eversource-screws-mass-consumers/
Also reminds me of how often, all those years ago in my teens, I'd read in the paper that the insurance companies would approach that criminal--- Billy Bulger (not Whitey)--- whose official title was Insurance Commissioner, asking for rate increases year in and year out. Billy always just said, "Sure! Great idea!" Fox in charge of the henhouse. Same with all the federal agencies and regulators.
I'm still looking for market to firm up a bit, but then will add to my conservative holdings.
I started to add that market-cap ute funds may not capture that dynamic for a while, but I remembered reading recently that even mega-ute Duke E'gy has a significant renewables program going, so maybe a ute etf would fit the Giroux narrative.