|
Post by bobfl on Apr 17, 2022 15:02:57 GMT
Anyone invest almost strictly in actual preferreds (preferably investment grade, qualified, with extremely low redemption possibility). Preferably someone who went to cash before the recent crash. Want to discuss reentry strategy. Thanks!
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 17, 2022 15:48:55 GMT
I owned a few individual financial preferreds, mostly floored floating rate eligible for qualified dividend tax treatment. I sold them all in late Jan., early Feb. because they weren't acting like I expected them to act with interest rates expected to rise. I have been DCAing a little into the ETF PFFV since then.
|
|
|
Post by bobfl on Apr 17, 2022 18:36:28 GMT
Thanks for responding. I am tracking 73 on a spreadsheet that I programmed to update in real-time. I put in all the preferreds that were written below 5%, mostly in the 4% range. Unlikely those will ever be redeemed. I thought I would go back in when they hit 6%. Now with a 20% discount, they are either hitting or getting close to that goal. But not sure if they will drop further once the fed rate actually makes jumps, also at year-end selling. The variable rate ones usually start at four so they seem to be pricing that way.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Apr 18, 2022 0:33:53 GMT
|
|
|
Post by richardsok on Apr 18, 2022 1:10:41 GMT
Xot did everything right- carefully and methodically -- leveraging deeply into preferreds of companies his security analyses reported having strong commons. He regularly reported his B/S/W trades and enjoyed 12% + yields for a long time until the Covid Crash hit --- and was heard from no more. Draw yr own conclusion. Damn shame. I enjoyed his posts. Wish he had factored technical trading into his system. Great confidence brings great risk.
|
|
nobhead
Lieutenant
Posts: 92
Member is Online
|
Post by nobhead on Apr 18, 2022 2:27:12 GMT
Xot did everything right- carefully and methodically -- leveraging deeply into preferreds of companies his security analyses reported having strong commons. He regularly reported his B/S/W trades and enjoyed 12% + yields for a long time until the Covid Crash hit --- and was heard from no more. Draw yr own conclusion. Damn shame. I enjoyed his posts. Wish he had factored technical trading into his system. Great confidence brings great risk. I followed him for years too. bobfl, I have the editable version of this spreadsheet if you want a copy of it. Xot gave permission to share it. Just let me know.
|
|
|
Post by bobfl on Apr 18, 2022 2:52:10 GMT
Thank you Django and Richardsok! Great spreadsheet! Brought back a lot of memories. So many of these coming up will be called. But that is the story of preferreds. I moved to preferred IPOs where I could get great capital gains that way plus the yield. Also specialized in investment grade and the banks. With the 20% discount I can get now, I can still potentially have cap gains, but in my old age will settle for never having them called. If I die my wife will not have to worry about what to do with the cash from a call. The spreadsheet is great. Well organized. I will study it more for the memories. Sad about Lord Xot disappearing. I had some friends on Morningstar many years ago. Can't even remember their names. I always seemed to be doing the opposite of what others did. I went off and never came back. Update: I just went through it again. Wow! It is unbelievable!
|
|
|
Post by bobfl on Apr 18, 2022 11:41:41 GMT
I followed him for years too. bobfl , I have the editable version of this spreadsheet if you want a copy of it. Xot gave permission to share it. Just let me know.
Thank you Nob, My spreadsheet is setup similarly, but I might ask you for a copy after I study it more. I would like to do some sorting. There is potentially a way to make money on some of these that I am not following by buying the ones that have dropped below $25 yet are sure to be called. But that would tie up capital. Bob
|
|
|
Post by retiredat48 on Apr 18, 2022 15:35:43 GMT
Xot did everything right- carefully and methodically -- leveraging deeply into preferreds of companies his security analyses reported having strong commons. He regularly reported his B/S/W trades and enjoyed 12% + yields for a long time until the Covid Crash hit --- and was heard from no more. Draw yr own conclusion. Damn shame. I enjoyed his posts. Wish he had factored technical trading into his system. Great confidence brings great risk. +1 R48
|
|
|
Post by retiredat48 on Apr 18, 2022 15:37:23 GMT
@django,...is this spreadsheet CURRENT?? Is lordxot keeping it current....if so, perhaps means he is still investing this way. R48
|
|
nobhead
Lieutenant
Posts: 92
Member is Online
|
Post by nobhead on Apr 18, 2022 16:02:10 GMT
@django ,...is this spreadsheet CURRENT?? Is lordxot keeping it current....if so, perhaps means he is still investing this way. R48 I found a copy of the spreadsheet I had saved and it had an email address as the owner. I sent an email to the address to see if it is still active and if lordxot is that person. I invited him to the board if it is him. Will let you know if I hear back from him.
|
|
|
Post by lordxot on Apr 18, 2022 20:54:06 GMT
LordXot is alive and well...i guarantee. Links to my spreadsheets are below. Share them as you please. Make copies for yourself and these copies are yours and editable. These sheets were compiled from Q-Online and WSJ pfd stock tables in 2007 and updated since. You will find virtually all pfds/etds here that you may want to invest in, or track. Click the symbol cell for security descriptions. I post almost entirely on Value Forum so i'm not heard from. These are very valuable sheets. The recent covid crash being only the latest special use for them but any market decline of substance in the pfd space proves their utility. Just as useful for every day use as well. These are my lifeline...for real. The covid crash was severe in 2020 and drove me out of the market in April/May of that year with nav declines around 45%. But i had these sheets and one can shop the entire investible pfd market nearly at a glance. I re-entered shortly in highly discounted pfds from big banks, insurance companies, and a few mlp issues such as as CEQPpr, NS-A, and others. Had 100% of invested cash in pfds at one time. Added in high quality bdcs such as CSWC, ARRC, TSLX, HTGC, TPVG, NEWT. Also bought mreits and other high yield financials that are doing very well now....NLY, AGNC, ECC, ABR, NRZ, RC, OXLC. Due to the extreme low pricing of these issues and subsequent snapback, i recovered all losses and finished flat on the year with a Total Return for 2020 of minus a quarter percent. As pfds returned to par, i sold them off nad added to the others i mentioned and these continued to gain. I started selling put options as well and all this combined for a 39% Total Return for 2021. Thing is that i have very few pfds now. I want 8% for pfds and some chance for appreciation. The low rates that have been in effect till recently sent yields to the cellar and prices to the moon. I had just 3 pfds until i bought TNP-F this morning at 25.04. This is an F/F issue but no change till 2028 and the base rate upon reset is 6.54% plus 3 month libor. Ex-div is 4/26 for 5/02 payment for almost $.60 dividend. Current yield at $25.04 is 9.48%. I don't like shipping but have held TNP pfds off and on for years. They are solid and oil tankers will be very much in demand in the future. Things are different now. I hold a large amount of cash, sell some options, and collect from my income issues. Likely will not ever be fully invested in the market again. However, if crashes come, i'll look directly for discounted pfds first..................Xot docs.google.com/spreadsheets/d/1M18jyMWV54AAcrks45VgISIgzbxu_7uy23gSJG1Ed80/edit?usp=sharingdocs.google.com/spreadsheets/d/14BPDMIwDyCFAZjnzqQXqYRodWrMoUXGaXemrUEV2TGQ/edit?usp=sharing
|
|
|
Post by bobfl on Apr 18, 2022 21:53:07 GMT
Thank you! Your work is brilliant! I slept thru the Covid crash (working on another project). When I woke up things were back up. So I was oblivious as to what happened. Remember '08 though, when my stuff dropped 66%. A few months back I sold out when they started saying "high inflation". Now staging to get back in with preferreds that were written at such low rates they probably will not be called. Now about a 20% discount. That will be my "last hurrah". Thanks again, Bob
|
|
|
Post by anitya on Apr 18, 2022 22:51:50 GMT
Good to hear from you, lordxot. I remember you shared your spreadsheets at M* discuss as well. I being more of a fund investor just never had the discipline to invest in individual preferreds. Do you mind sharing the link to the Value forum where you have been spending time? Thanks.
|
|
|
Post by richardsok on Apr 19, 2022 0:31:56 GMT
Good to see yr post, Xot. Made my day.
|
|
|
Post by retiredat48 on Apr 19, 2022 2:00:25 GMT
lordxot,...Welcome. Highly appreciated your inputs on the Morningstar forum re your investing style and techniques. It influenced my eventual and growing emphasis on portfolio yield. R48
|
|
|
Post by dougj1 on Apr 21, 2022 23:43:44 GMT
Xot Nice to see your update here. I have been using the spreadsheets you made available several years ago. They have been a big help, just can't use them as well as you
|
|
|
Post by Majick on Apr 30, 2022 23:24:29 GMT
@django ,...is this spreadsheet CURRENT?? Is lordxot keeping it current....if so, perhaps means he is still investing this way. R48 I found a copy of the spreadsheet I had saved and it had an email address as the owner. I sent an email to the address to see if it is still active and if lordxot is that person. I invited him to the board if it is him. Will let you know if I hear back from him.
|
|
|
Post by Majick on Apr 30, 2022 23:39:09 GMT
Guys, Is there any way to Modify/edit for:
How to Add any Mutual Funds tickers on this google spreadsheet? It will be only the End of Day Closing price only. I've copied & renamed the spreadsheet on my google drive. Replaced a few with ETF tickers like SCHD, VYM,VIG...
Anyone has done modifications for adding Mutual Funds? Thanks in Advance for your help. Majick
|
|
nobhead
Lieutenant
Posts: 92
Member is Online
|
Post by nobhead on May 1, 2022 0:37:30 GMT
Guys, Is there any way to Modify/edit for: How to Add any Mutual Funds tickers on this google spreadsheet? It will be only the End of Day Closing price only. I've copied & renamed the spreadsheet on my google drive. Replaced a few with ETF tickers like SCHD, VYM,VIG... Anyone has done modifications for adding Mutual Funds? Thanks in Advance for your help. Majick I have a sheet with Mutual funds. Will send it to you tomorrow.
|
|
|
Post by bobfl on May 4, 2022 12:55:42 GMT
Guys, Is there any way to Modify/edit for: How to Add any Mutual Funds tickers on this google spreadsheet? It will be only the End of Day Closing price only. I've copied & renamed the spreadsheet on my google drive. Replaced a few with ETF tickers like SCHD, VYM,VIG... Anyone has done modifications for adding Mutual Funds? Thanks in Advance for your help. Majick support.google.com/docs/answer/3093281
|
|
|
Post by Majick on May 4, 2022 13:58:59 GMT
bobfl, Thanks.complete full list for ref. Majick.
|
|
|
Post by bobfl on May 4, 2022 16:51:21 GMT
bobfl, Thanks.complete full list for ref. Majick. Just completed my last trade for this rate cycle. 2.5 days of buying. Told my wife I could not have done it without my spreadsheet which tracked 75 instruments and QuantumOnline because they provide great lists of everything. Also a great custom search feature. Because I am cheap I will send them a $100 donation, plus the $50 I already sent. Should send them a thousand. I will not look at my portfolio until the fed stops raising and hopefully we go into a recession. Then these instruments jump up. Good luck!
|
|