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Post by richardsok on Sept 21, 2021 20:34:31 GMT
rhythmmethod , $15.56 - 21.66 = the 52 week price range of PTY. Thanks, steelpony10 , I'll keep adding very slowly (my vain attempt at control) until I reach ~ 2-3% of PV, then become more picky probably. While I have your attention; what would be your second choice for a FI CEF? Probably not PCI/PDI, I guess bc of the merge. Does anyone know what the distribution coverage is for PTY? PKO? PDI? ..... etc ?
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Post by cactusjack on Sept 21, 2021 20:35:57 GMT
Sold 1/2 my VGT for a nice profit. Added a small amount to PTY holding. Still think the overall market looks shaky, but am about where I want to be regarding income.
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Post by rhythmmethod on Sept 21, 2021 21:38:43 GMT
Thanks, steelpony10 , I'll keep adding very slowly (my vain attempt at control) until I reach ~ 2-3% of PV, then become more picky probably. While I have your attention; what would be your second choice for a FI CEF? Probably not PCI/PDI, I guess bc of the merge. Does anyone know what the distribution coverage is for PTY? PKO? PDI? ..... etc ? richardsok, Short answer - no. I do know that PTY just significantly cut its dist. and subsequently the price dropped from its high. My bone-headed take is that the PTY group won't catch stupid and that even with another dist. cut, it will rise my current yield. As of now, the only other CEF I own is FPF, from the CV meltdown. My current plan (always subject to change) is that I'll hold a few of these pups to total 5-7% of port, collect the $, and let smarter minds than mine trade and calculate coverage.
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Post by richardsok on Sept 21, 2021 21:40:32 GMT
Does anyone know what the distribution coverage is for PTY? PKO? PDI? ..... etc ? richardsok , Short answer - no. I do know that PTY just significantly cut its dist. and subsequently the price dropped from its high. My bone-headed take is that the PTY group won't catch stupid and that even with another dist. cut, it will rise my current yield. As of now, the only other CEF I own is FPF, from the CV meltdown. My current plan (always subject to change) is that I'll hold a few of these pups to total 5-7% of port, collect the $, and let smarter minds than mine trade and calculate coverage. OK. Thanks, rm. Good luck.
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Post by nobhead on Sept 21, 2021 22:17:53 GMT
richardsok , Short answer - no. I do know that PTY just significantly cut its dist. and subsequently the price dropped from its high. My bone-headed take is that the PTY group won't catch stupid and that even with another dist. cut, it will rise my current yield. As of now, the only other CEF I own is FPF, from the CV meltdown. My current plan (always subject to change) is that I'll hold a few of these pups to total 5-7% of port, collect the $, and let smarter minds than mine trade and calculate coverage. OK. Thanks, rm. Good luck.
Google unii report - pimco
It will open in Excel.
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Post by richardsok on Sept 21, 2021 22:50:00 GMT
TY, nob.
Saw the August report, and it seems to elicit more questions than it answers. Why is PDO's price falling when it is performing so well? Is it a candidate for EOY special dist?? Is its recent poor performance merely a case of dumb money dissatisfaction with the 6.8% disty?
Most of "the usual suspects" maintain rock-solid NAVs, but PKO has a relatively low premium & fine coverage.
PTY was only (.03) UNII with strong 3- and 6-month coverage, so why did it need to cut distributions? Possibly looking rocky ahead? Dunno.
This is another of those moments when my lack of analytical skills is grating.
Unless I learn more, my first inclination is to put PHK on my watch list (with PDO on top) and buy hard when support is found.
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Post by steelpony10 on Sept 21, 2021 23:14:10 GMT
Thanks, steelpony10 , I'll keep adding very slowly (my vain attempt at control) until I reach ~ 2-3% of PV, then become more picky probably. While I have your attention; what would be your second choice for a FI CEF? Probably not PCI/PDI, I guess bc of the merge. Intraday $18.25 on 9/10. I love limit orders đ If I see it anywhere close to the $15s I would consider a little more. Chahta , rhythmmethod , PCI, PKO are merged into PDI. That should show up by the end of the year maybe along with a yield adjustment. I hold 10 CEFâs (at 4-5% PV each) and try to stay about 10% over my desired yearly expected $ income* to allow for cuts. So if both of you are going for 2-3% Iâd probably choose a max dollar amount which would be more consistent then a percentage. For example 1k each + safety for an income of $3500/yr using 3. Thatâs what I do anyway. For you guys maybe 3 in the 7+%-9% range. So an aggregate of 3 averaging 7.5% requires about a 45-50k total investment. As I mentioned I consider PTY the best of the best. So without much input I might choose PCN and PDI depending on how that merger comes out as the next two. GOF is currently a higher yielding CEF amongst the fewer equity based CEFâs and significantly more volatile meaning price fluctuations (to me). Itâs probably at a premium also but itâs management I consider to be very good, Guggenheim. *the more proper term is distributions, not income or dividends. Thereâs different types of distributions and levels of leverage which will just make things more confusing. As with other funds you can second guess, panic and overload on information. Remember youâre flying by the seat of your pants. Your only here for more volatile but cheaper cash flow relative to bond funds that donât use leverage. Maybe youâll get one type of distribution from PIMCO at year end. A surprise which skews the actual premium and distribution yield for the year (donât ask). CEF Connect has an education center. đ
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Post by richardsok on Sept 22, 2021 14:40:10 GMT
Right at the open, took gains on most remaining bearish hedges (PSQ & HDGE).
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Last night I was poking around lists of equities and funds that have recently raised distributions. I was positively gob-smacked to see India Fund (IFN) on the list and paying out a hard-to-believe 9.5%. Hadn't thought about the fund in years, but comparing it with broad China investments, IFN shines in almost every respect, IMHO. India is a democracy, has a free press, more credible financial reporting -- and FAR less opaque. A young and dynamic work force, similar to China's. Business & government are led by growth-oriented and educated English speakers with little of the menacing, grasping, aggressive attitudes of the CCP. I don't know if they have a perilous debt situation like China; but if so, I certainly haven't read anything about it in recent headlines. If India still deals with a vast impoverished populace in its lower classes, so do the Chinese.
Personally speaking, I feel better investing money in India than in China. Bought a block in the IRA on its recent XD dip, but want to look deeper into the fund before buying more.
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Post by yogibearbull on Sept 22, 2021 14:47:26 GMT
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Post by richardsok on Sept 22, 2021 15:22:24 GMT
I hear you, yogi. Your points noted, with thanks.
The whole world is expensive now and I am encouraged by IFN's distribution increase coupled with its post-XD dip as a decent entry point. As I have posted elsewhere, I met the recent market drop very over-allocated in cash with almost zero Em Mkt or China exposure.
Am comfortable taking a smallish position in IFN right here. Yes, it's a managed distribution, but (again!) also a recently INCREASED one. If IFN's current 9.5% distribution is maintained I can afford to ride out garden-variety volatility while collecting the income stream. I especially appreciate out-right ownership of Indian equities within the ETF as compared to the "shell game" rules of Chinese stocks.
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Deleted
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Post by Deleted on Sept 22, 2021 15:38:18 GMT
IFN looks good. It does return of capital and Issues 1099 DIV. Is it ok to invest in IRA?
I see richardsok bought it in IRA.
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Post by richardsok on Sept 23, 2021 2:59:05 GMT
Shortly before the close, returned to an initial bucket of VOOG and smaller introductory buys of PFN and PDO.
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Post by rhythmmethod on Sept 23, 2021 14:29:41 GMT
I have a new acronym (can it be such without a vowel? I bet richardsok, knows) Anyway, I'm reducing risk a little today; STB (sell the bump). I'm exchanging some FLPSX for FMSDX. Reducing equity a bit and adding to my core allocation.
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Post by richardsok on Sept 23, 2021 16:58:26 GMT
Even after big VOOG signal-driven buys, still loaded with too much cash. Added to existing positions in ECC & KNOP and returned to a new position in SPH. All in the IRA for the income, not for frequent trading. My long-suffering Merrill Lynch broker goes into his tsk-tsk-tsk act whenever I trade actively with him. I'm trying to spare him the eye-rolling and concentrate tech signal buy/sells in my big taxable accounts.
I trust this market. Not.
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Post by cactusjack on Sept 23, 2021 17:16:44 GMT
Made a small entry into ERF. Thought the chart looked promising.
Also made small adds to VGT (I am short on tech), PTY and XLE (charts show some promise).
I still think inflation will be around for a while.
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Post by chang on Sept 23, 2021 19:23:33 GMT
Bought 100s of MKC at $84.90. Great company on sale IMO.
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Post by richardsok on Sept 23, 2021 20:37:17 GMT
Interesting buy, Jack. Your ERF has been driven down by sharp losses last couple of years, but projects profit next quarter and should earn 1.60 next year, according to finviz. Analyses are all over the place; several are dated, I'm sure. Merrill doesn't cover it but TipRanks gives it a 10 (their max score). Quite volatile with a 1.4 beta, so the potential for a deep dip oppty may arise. It's had resistance at about 7.50, but if earnings projections prove correct, ERF could blow right past that.
Good luck with it. Might pick a bit up myself.
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Post by richardsok on Sept 24, 2021 13:19:55 GMT
Put in an at-the-open sell order for 1/4 my big position in VOOG. Good gain for a couple of days' trade. Will follow my signals now for the rest.
Unless there's a spike or continued erosion, intend to buy an opening position in VXX shortly after the open.
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Post by rhythmmethod on Sept 24, 2021 14:37:35 GMT
DCA into PTY again at 18.50. It is definitely a character flaw that I just don't buy more the first time, when it was a little cheaper. For punishment I connected the jumper cables, turned on the engine and bot 2 shares of BABA for 145. đł
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Post by cactusjack on Sept 24, 2021 18:59:03 GMT
Sold about half my PDT for a nice profit. Just harvesting some of this year's capital gains.
Now trying to figure out whether to sell or hold my yesterday's ERF purchase after a pretty nice one day gain. Think I'll hold for a bit.
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Post by Chahta on Sept 24, 2021 19:16:39 GMT
DCA into PTY again at 18.50. It is definitely a character flaw that I just don't buy more the first time, when it was a little cheaper. For punishment I connected the jumper cables, turned on the engine and bot 2 shares of BABA for 145. đłI think your initial purchase was before the ex-div date so you will get 11 pennies to help lower your cost.
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Post by chang on Sept 24, 2021 21:31:44 GMT
Added to DODIX, using cash from recent equity trimming. It was down significantly for two straight days ⊠hopefully I am buying a dip.
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mrc
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Post by mrc on Sept 24, 2021 22:54:23 GMT
Added a tiny bit to BABA today. Felt it had become much cheaper since I bought at $211. Could not control the urge to buy at these prices.
Initiated positions in BOMN and SRG on August 30th. (Sorry, It's been a while since I posted here). Buffet's relative is Co-CEO at BOMN. Cloned Guru Mohinish Pabrai interest in SRG.
Contemplating to buy OLLI
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Post by jongaltiii on Sept 24, 2021 23:18:03 GMT
mrc good share on BOMN ⊠interesting www.barrons.com/articles/warren-buffett-berkshire-stock-51631814784âShares of Boston Omaha (ticker: BOMN), a publicly traded holding company co-led by Buffettâs grandnephew Alex Buffett Rozek, are beating Berkshire Hathaway (BRK.B) stock so far this year. Boston Omaha stock has surged 21.7% year to date, topping the19.7% and 19.4% respective gains of Berkshire Hathaway âs class A and B shares. Both generations of Buffetts are ahead of the 18% rise in the S&P 500 index so far in 2021.â
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mrc
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Post by mrc on Sept 24, 2021 23:33:16 GMT
Thanks jongaltiii!
On Monday's correction, I added a bit to the following mutual funds in my (retirement) portfolio
Precious metals, Financials, International Value, International SMIDCap Value.
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Post by richardsok on Sept 25, 2021 11:15:33 GMT
Added a tiny bit to BABA today. Felt it had become much cheaper since I bought at $211. Could not control the urge to buy at these prices. Initiated positions in BOMN and SRG on August 30th. (Sorry, It's been a while since I posted here). Buffet's relative is Co-CEO at BOMN. Cloned Guru Mohinish Pabrai interest in SRG. Contemplating to buy OLLI Don't know a fig about the stocks you mention except to point out BOMN has a very pretty rolling chart pattern; just what unrepentent short term traders look for. (Probably not the reason you like it -- but it did catch my eye.) Interesting. At first glance SRG has a far more auspicious current chart than OLLI. That could change next week, of course. Thanks for posting.
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Post by Deleted on Sept 25, 2021 22:32:19 GMT
Selling FEMKX. It has 30% China. replacing it by WAESX which has 12% in China.
From WSJ article today (paraphrased) - "China has returned 2.2% since MCHI index was created. During same time US Treasuries have done better. May be Chinese govt. knows something as they invest in US treasuries." LOL. I am sure some people will make lot of money in China. It ain't going to be me.
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Post by cactusjack on Sept 27, 2021 14:02:16 GMT
ERF is looking good today, having just broken out from the last resistance level, and is up 12% since Friday. The volatility is pretty much above my pay grade, but so far I am glad I picked up a small amount. Thanks for the interesting analysis, Richardsok.
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Post by richardsok on Sept 27, 2021 14:46:13 GMT
I had two at-the-open buy orders this morning; first for BOMN (thanks to mrc) as well as following Jack into ERF. Two nice early spikes.
Over in the IRA bought new positions in COP and PBR.
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Post by rhythmmethod on Sept 27, 2021 14:51:32 GMT
Closing out my position in FLPSX. It's a fine fund and has done well for me. I'm taking a little risk off the table. Mostly however, I'm reducing the number of funds I own. Most proceeds are going into FBALX (my slightly lower risk US equity proxy) and some into FMSDX. Holding a little cash out that I'll deploy in existing funds this week as event play out. Put in low limit orders for MSFT and PTY - See what happens. Stay well,RM
Edit - Picked a little PTY at 18.25, other limit orders in for 18.00, 17.50, 16.75.
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