sam
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Post by sam on May 7, 2022 1:58:38 GMT
Pimco CEFs are very popular here. Popular are like PDI or PFN or PCM have portfolio tilted towards very long end of bond markets (20 years plus). Even though these are investment grade Cooperate Bond CEFs, they behave like equity with Coupon. They always sell off with Market. In this Market these CEFs made their Peak in May or June of 2021 vs S$P500 made its Peak in Jan 2022.
There is generational change going on bond market. (there is possibility we may be entering into Secular Bears Market for Bonds likes in 60s or 70s)
FED fund rates increase effect shorter end of bond market the most. Biggest change is in Treasury Bills to Notes. Bonds 20 + is matter of debate)
With Fed raising short term rates they will directly increase cost of leverage (operation cost for Portfolio) for CEFs and even modest interest rate increase in long end of Bond (20 years +) will decrease CEF portfolio value and its effect are magnified due to leverage of CEFs.
Are these Investment grade cooperate very long terms bonds CEFs are best suitable for current environment? Is there chance they will be back up once market calm done? Distribution cuts might come?
Would not you invest in High Yield Cooperate CEFs where portfolios are tilted towards shorter end of market (like 5-6 year) and proceeds of maturing bonds are keep on reinvesting in new issues?
Q. Thing I am trying to understand, many of Pimco CEFs did quite well in Past, but now they are going to affected on Both end. Cost of Operation goes up due to rising rates and portfolio most likely will goes down due to small raise in long interest rate PLUS leverage?
There are many seasonal pros around here. Not sure if leverage CEFs existed in 60s or even early 80s. If you don't mind sharing your experience?
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Post by johnsmith on May 7, 2022 10:49:59 GMT
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Post by yogibearbull on May 7, 2022 12:17:22 GMT
Also check out newer bond CEFs with term-structure where the current large discounts will appear after a few years - PDO, PAXS, etc. There are being sold off along with the others.
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Post by uncleharley on May 7, 2022 12:31:01 GMT
The only CEF I currently own is UTG, a utilities cef. I am watching some of Pincos cef's such as PDI etc. The plan is that when the NAV stops falling and shows some indication of going up, I will open a position in one or more of them. I know of no reason to go long in a bear market.
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Deleted
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Post by Deleted on May 7, 2022 13:40:40 GMT
(TBLD) Thornburg Income Builder Opportunity Trust (which I hold) has a balanced large cap tilted to value mega cap portfolio. It IPO-ed without leverage as a term trust, is trading with a discount and a 7.x% monthly distribution. Yesterday on a down market day, its price was higher. I also hold PAXS and was an early buyer of PDO, when it wasn't popular with the CEF crowd. Also own some PDI.
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Post by yogibearbull on May 7, 2022 14:19:55 GMT
(TBLD) Thornburg Income Builder Opportunity Trust (which I hold) has a balanced large cap tilted to value mega cap portfolio. It IPO-ed without leverage as a term trust, is trading with a discount and a 7.x% monthly distribution. Yesterday on a down market day, its price was higher. I also hold PAXS and was an early buyer of PDO, when it wasn't popular with the CEF crowd. Also own some PDI. TBLD is also a CEF with term-structure, but it is world-allocation. It is a cousin of more famous OEF TIBAX/TIBIX. On a day like yesterday, one could pick up TBLD in the morning selloff, but with TIBAX, one had to wait until the market close when it was down just a bit. BTW, equity and hybrid CEFs have modest leverage, not leveraged to the hilt like most bond CEFs. As you noted, TBLD has no leverage now. |
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sam
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Post by sam on May 7, 2022 15:55:21 GMT
My understanding is PIMCO or no one has control over inflation or interest rate. Mr or Ms Market does NOT always agree with your or anyone thinking. Market does NOT know you. Even FED's strategies seems to be not working. You can read or listen on Financial TV for that one and they what they talk about all day along.
You may know or should know one thing.
There is one thing common among Theological Clerks, Politicians and Money Managers, and that is NEVER say NO to MONEY!
Very investor friendly money manager will close one fund to new money and their PR department and M* will sing praises for that manager. Then they will open a brand new mutual fund to replicate their experience of making money. There is long list of such managers.
Point I am making is Last 35- 40 years were down hill for bond investing and very easy to make money when overall interest rates are falling. Now we may be entering into Up hill battle of bond investing. Bond money managers have to make money for themselves some how and service their life style.
I think 60/40 portfolio model may not work this time.
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Deleted
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Post by Deleted on May 7, 2022 16:24:09 GMT
It is reasonable to believe that there will always be a need to issue government and corporate debt via bonds, albeit at higher interest rates. With a perpetually elevated high cost-of-living, the 60/40 portfolio may continue to be popular with average wage earners and retirement savers.
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Post by johnsmith on May 7, 2022 20:24:07 GMT
I understand that the PIMCO and it's managers don't control interest rates & inflation. In a stagflationary environment, the only thing that will protect principal is commodities/oil (maybe why Uncle Warren has been buying Occidental hand over fist).
The way I thought about this is - They have a bunch of bonds (X) that pay out interest (Y).
when interest rates and inflation change, the pay out (Y) doesn't decrease. So the level of income stays the same.
The value (NAV) of the bonds would definitely change.
Leverage costs (especially variable rate borrowings) will increase and decrease income. They could possibly be mitigated by reducing leverage. I know that at points reduction in leverage has caused permanent loss of NAV in the past. Is this possible today?
What else am I missing?
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Post by bizman on May 8, 2022 4:01:10 GMT
Something I wonder about is if the leverage in the CEFs isn't actually higher than the stated figure simply because many/most derivatives have, in effect, embedded leverage in them. In a discussion about the Bill Hwang/Archegos scandal, it was mentioned that he used total return swaps to hide his ownership interest from regulators, and also that they have high embedded leverage.
If so, and if PIMCO uses derivatives in this way, extra high leverage paired with one way bets may be the special sauce. They may be brilliant, but this would indicate extra risk if they are wrong. My thought is to wait and see if the Fed delivers on a 3%+ Fed Funds rate, and if we get a 1994-like series of blowups that may allow for distressed pricing to load up.
Such an outcome may not come. But am I wrong to think that 9-11% yields probably aren't earned by plain vanilla coupon clipping type management? Surely they are taking a lot of risk, just their skill has thus far masked it? No?
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Deleted
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Post by Deleted on May 8, 2022 8:16:40 GMT
sam You will perhaps find some answer(s) to your question in the month-old seekingalpha.com/article/4501795-cef-weekly-review-projecting-impact-higher-leverage-costs . See the "market themes" section of this article. And possibly of help would be seekingalpha.com/article/4504510-pimco-cef-update-quick-interest-rate-footwork-mitigates-the-drawdown . edit: and, of course, note the informative comments by you-know-who in the referenced article. In particular .... " .PIMCO -- not so much the other hundreds of CEFs ---did very well once a trend of rate hikes developed and was sustained. I think there's a good chance that happens again, particularly since THIS TIME PIMCO CEFs were creamed from the weekly MACD sell signal last summer until the apparent(?) recent bottoming. If Fed goes mechanical and hikes multiple times --- essentially justifying the wild interest rate hikes MARKETS have anticipated --- PIMCO can provide outstanding returns. You'll note my point in that post was that buy-and-hold non-strategies are the kiss of death. " --- Frank
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Post by yogibearbull on May 8, 2022 10:11:06 GMT
Something I wonder about is if the leverage in the CEFs isn't actually higher than the stated figure simply because many/most derivatives have, in effect, embedded leverage in them. In a discussion about the Bill Hwang/Archegos scandal, it was mentioned that he used total return swaps to hide his ownership interest from regulators, and also that they have high embedded leverage. If so, and if PIMCO uses derivatives in this way, extra high leverage paired with one way bets may be the special sauce. They may be brilliant, but this would indicate extra risk if they are wrong. My thought is to wait and see if the Fed delivers on a 3%+ Fed Funds rate, and if we get a 1994-like series of blowups that may allow for distressed pricing to load up. Such an outcome may not come. But am I wrong to think that 9-11% yields probably aren't earned by plain vanilla coupon clipping type management? Surely they are taking a lot of risk, just their skill has thus far masked it? No? CEF leverage is understated as it is. Regulations require it as % of gross assets but you and I experience it as % of net assets. See LINK. As for derivatives, funds are supposed to state derivative exposure as notional, i.e. in terms of total position they control, so this shouldn't be of concern except when there is fraud. |
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Post by bizman on May 8, 2022 15:32:40 GMT
Something I wonder about is if the leverage in the CEFs isn't actually higher than the stated figure simply because many/most derivatives have, in effect, embedded leverage in them. In a discussion about the Bill Hwang/Archegos scandal, it was mentioned that he used total return swaps to hide his ownership interest from regulators, and also that they have high embedded leverage. If so, and if PIMCO uses derivatives in this way, extra high leverage paired with one way bets may be the special sauce. They may be brilliant, but this would indicate extra risk if they are wrong. My thought is to wait and see if the Fed delivers on a 3%+ Fed Funds rate, and if we get a 1994-like series of blowups that may allow for distressed pricing to load up. Such an outcome may not come. But am I wrong to think that 9-11% yields probably aren't earned by plain vanilla coupon clipping type management? Surely they are taking a lot of risk, just their skill has thus far masked it? No? CEF leverage is understated as it is. Regulations require it as % of gross assets but you and I experience it as % of net assets. See LINK. As for derivatives, funds are supposed to state derivative exposure as notional, i.e. in terms of total position they control, so this shouldn't be of concern except when there is fraud. Thanks, yogibearbull , that's reassuring about the derivatives reporting. I guess we have to assume PIMCO is on the up and up. They would have too much to lose if they didn't abide by the rules. The understating of the regular leverage means they aren't quite levered 2 to 1. At least it's not 5 to 1, or 30 or 40 to 1 like some of the banks before the financial crisis. I vaguely remember you and some others talking about the difference between PDI and the new CEFs like PDO, something about a term structure where they will liquidate and return NAV to holders or something? Do you have a link to that discussion? Thanks in advance! Edited to add: Duh, I found your post in the link you already provided about the term structure of the new CEFs. Sorry for the poor reading comprehension. |
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Post by xray on May 9, 2022 17:16:26 GMT
yogibearbull, Your: Something I wonder about is if the leverage in the CEFs isn't actually higher than the stated figure simply because many/most derivatives have, in effect, embedded leverage in them. ---------- First of all: I expect many conversation and message boards (like this one) will become increasingly quiet as the long expected knife falls on the many " HIGH RISK" investors with the over-valued securities in their portfolio's. They are caught with indecision currently on what to do. With that said.... The better securities (with the very good book values and undervalued MktPrc's and the CEF's with NAV's much higher (@ major Discounts) than their MktPrc's before the current decline) should do fairly well and are expected to correct upwards rather rapidly when the turnaround occurs. Investors expecting a rapid upward movement in all of the securities will be very surprised that it will not occur (IMHO). It is my sole opinion that many securities will take many (many) "years" to recover any where near their previous "HIGH's".... Getting back to the CEF's, and the better performing one's currently, I am counting on the "MANAGERS" of these CEF's to know and understand when to pull the plug. We pay them to make those calls. We are basically analyzing the MANAGERS PERFORMANCE and not the CEF's when we look for good investments. True, some of these MANAGERS do very well or better in up markets but their down market performance has not done nearly as as well. However, always however's, we have had a awful "LOT" of warnings by a lot of professionals to go to " CASH" (like some of us have taken some heed to) and hopefully these MANAGERS have already listened and have increased their current cash allocations. If/when "the majority of" the MANAGERS of CEF's and the MUTUAL FUNDS decide to sell (all at once) another portion of their securities, we could have a very severe decline beyond what we already are having. Panic could easily occur. Currently, we are seeing some "short players" playing the panic.... Still believe (sole opinion) that the dividend investors will have a very good year this year and will have a positive year in comparison to 2018.... Live Long and Prosper....
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Post by gman57 on May 9, 2022 17:28:50 GMT
Also check out newer bond CEFs with term-structure where the current large discounts will appear after a few years - PDO, PAXS, etc. There are being sold off along with the others. Did you mean disappear? |
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Deleted
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Post by Deleted on May 9, 2022 17:50:19 GMT
xray, Fund managers are forced to sell assets to meet the redemptions of panic sellers. It's a vicious cycle (selling begets selling) something like that of the wage and price spiral of inflation. However, as to your reference to "Professionals" warnings to go to cash, I haven't heard of any. We learn after the fact that Hedge Fund managers have gone to cash only after they have done it successfully. FAs may advise holding enough cash to cover expenses, time frame varies by need, age, and income.
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Post by johnsmith on May 9, 2022 20:58:38 GMT
care to share 5 well managed CEFs to keep an eye out for major discounts? xray, |
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Post by richardsok on May 10, 2022 0:41:39 GMT
care to share 5 well managed CEFs to keep an eye out for major discounts? xray , I'm not Xray. but I'm watching DSL. 10% distributions and 10% discount. Payout quite well covered -- but NAV and trading price plunging hard. Wouldn't touch it in such a free fall, but am watching it. DSL and some of the Pimco ponies are setting up for boffo opportunities soon.... when they find a bottom. IMO> |
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Post by xray on May 11, 2022 17:45:12 GMT
johnsmith, Your: care to share 5 well managed CEFs to keep an eye out for major discounts?xray, ---------- There is a " OLD" saying: " Better to stay quiet and believed to be a fool than to speak and remove all doubt". With that said.... The investors (not traders and hedge funds) are buying into a declining market that has "not" yet stabilized as we have been going forward. Many of us are "taking notes for current and future analysis" as the market declines" and have frozen any further buying/selling.... I am following the decline and the "BEST CURRENT FIVE" for income holders to continue to hold are the following: HGLB KYN (penny stock - with HIGH RISK) MFD THW DPG The above is posted with the caveat that today does not speak for tomorrow and that we should continue to be on the sidelines (with some cash) and continue to wait for the turnaround that is sure to come at some point (hopefully in our lifetime).... Some of us realize that (Pimco) bonds are talked about a lot but I haven't been able to find any that computer analysis currently likes (since the market direction is currently down and we appear to be in the " PANIC SELLING" mode. Great for traders and hedge funds but not for investors. Income investors appear to be doing well as dividends are not being reduced and thus we should have a "positive" year no matter what the market does.... One single opinion of the many I am sure.... Live Long and Prosper....
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Post by xray on May 11, 2022 18:04:34 GMT
johnsmith, Don't limit yourself to just CEF's.... There is gold in some hills (thinking outside the box) ---------- PR Newswire FS KKR Capital Corp. Announces First Quarter 2022 Results and Declares Second Quarter 2022 Dividend of $0.68 per shareMon, May 9, 2022, 4:15 PM In this article: FSK -0.88% PHILADELPHIA and NEW YORK, May 9, 2022 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK), today announced its financial and operating results for the quarter ended March 31, 2022, and that its board of directors has declared a second quarter 2022 distribution totaling $0.68 per share.Financial and Operating Highlights for the Quarter Ended March 31, 2022(1) Net investment income of $0.77 per share, compared to $0.66 per share for the quarter ended December 31, 2021
Net asset value of $27.33 per share, compared to $27.17 per share as of December 31, 2021Total net realized and unrealized gain of $0.02 per share, compared to a total net realized and unrealized loss of $0.02 per share for the quarter ended December 31, 2021 Total purchases of $2.1 billion versus $1.7 billion of sales and repayments, including $0.6 billion of sales to its joint venture Credit Opportunities Partners JV, LLC Net debt to equity ratio(3) as of March 31, 2022 was 112%, compared to 107% as of December 31, 2021 Paid cash distributions to stockholders totaling $0.63 per share(4) "FSK is off to a positive start in 2022, as we continue to execute our strategy and build on the momentum we created during 2021," said Michael C. Forman, Chief Executive Officer & Chairman. "During the first quarter, we generated adjusted net investment income of $0.72, our investment team originated $2.1 billion of new investments, and our Net Asset Value increased to $27.33 per share at the end of the quarter. Additionally, we continue to make significant progress on our net investment income growth opportunities, which gives us confidence in our ability to continue to deliver strong financial results for our shareholders." Declaration of Distribution for Second Quarter 2022 FSK's board of directors has declared a cash distribution for the second quarter of $0.68 per share, which will be paid on or about July 5, 2022 to stockholders of record as of the close of business on June 15, 2022.Portfolio Highlights as of March 31, 2022 Total fair value of investments was $16.6 billion of which 69% was invested in senior secured securities. Weighted average annual yield on accruing debt investments(5) was 8.9%, compared to 9.2% as of December 31, 2021. Excluding the impact of merger accounting, weighted average annual yield on accruing debt investments was 8.3%, compared to 8.4% as of December 31, 2021. Weighted average annual yield on all debt investments(5) was 8.6%, compared to 8.7% as of December 31, 2021. Excluding the impact of merger accounting, weighted average annual yield on all debt investments was 7.9%, compared to 7.9% as of December 31, 2021. Exposure to the top ten largest portfolio companies by fair value was 19% as of March 31, 2022, compared to 19% as of December 31, 2021. As of March 31, 2022, investments on non-accrual status represented 1.5% and 3.2% of the total investment portfolio at fair value and amortized cost, respectively, compared to 1.9% and 3.9% as of December 31, 2021. Net debt to equity ratio(3) of 112%, based on $9.9 billion in total debt outstanding, $369 million of cash and foreign currency and $823 million of net receivable for investments sold and repaid and stockholders' equity of $7.8 billion. FSK's weighted average effective interest rate (including the effect of non-usage fees) was 3.14%. Cash and foreign currency of $369 million and availability under its financing arrangements of $1,409 million, subject to borrowing base and other limitations. As of March 31, 2022, 53% of the Company's approximately $9,879 million of total debt outstanding was in unsecured debt and 47% in secured debt. ---------- Comment: What the press release does not point out is that FSK has "INCREASED" their dividend to $2.72/Yr from $2.52/Yr. We, as investors, need to read into the fine print if/when tracking our investments.... Disclosure: Some of us continue to hold a maximum allowable position in FSK.... One single opinion of the many I am sure.... Live Long and Prosper....
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Post by richardsok on May 12, 2022 11:35:25 GMT
TY, x. Will look into FSK.
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Post by xray on May 12, 2022 16:30:14 GMT
johnsmith, richardsok, Your: FSK ---------- Zacks Is Apple Hospitality REIT (APLE) Outperforming Other Finance Stocks This Year? Zacks Equity Research Thu, May 12, 2022, 9:40 AM In this article: FSK: One other Finance stock that has outperformed the sector so far this year is FS KKR Capital (FSK). The stock is up 2.2% year-to-date. Over the past three months, FS KKR Capital's consensus EPS estimate for the current year has increased 5.3%. The stock currently has a Zacks Rank #2 (Buy). Looking more specifically, Apple Hospitality REIT belongs to the REIT and Equity Trust - Other industry, which includes 108 individual stocks and currently sits at #155 in the Zacks Industry Rank. Stocks in this group have lost about 18% so far this year, so APLE is performing better this group in terms of year-to-date returns. In contrast, FS KKR Capital falls under the Financial - SBIC & Commercial Industry industry. Currently, this industry has 36 stocks and is ranked #91. Since the beginning of the year, the industry has moved -6%. Investors with an interest in Finance stocks should continue to track Apple Hospitality REIT and FS KKR Capital. These stocks will be looking to continue their solid performance. ---------- Comment: FSK is one of those securities, that if already in portfolio's, is ripe for a " SELL/Re-BUY" scenario. Some of us are ready to pull the trigger when the bottom is apparent. Eight others are currently in a similar position along with some additional buying to not only dollar cost average down but get ready for some CapGain probabilities going forward. Add to this that 6 insiders in March bought >350,000sh between 21.82-23.12.... One of those securities for income oriented investors (IMHO) when the turnaround actually takes place for the longer term while the market struggles to correct this negative market.... Live Long and Prosper....
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sam
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Post by sam on May 13, 2022 20:36:33 GMT
There are few Tech. analysis guru here. uncleharley certainly does that. Many of the popular CEFs are at 61.8% Fib retracement (March 2020 low to Mid 2021 High). S&P500 hit like 19.5% low from Jan 2022 High. I assume if you think market has hit bottom or almost towards low then it might be good time to buy these CEFs and on other hand if these CEFs broke below these levels then it is free fall towards March 2020 low as I don't see much support. Any opinion? |
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Deleted
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Post by Deleted on May 13, 2022 21:42:33 GMT
PDI’s March 20 low was $16.65, so we still have a ways to go there. PDO’s all-time low of $14.52, on the other hand, was hit yesterday.
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Post by xray on May 13, 2022 22:04:21 GMT
sam, Your: I assume if you think market has hit bottom or almost towards low then it might be good time to buy these CEFs and on other hand if these CEFs broke below these levels then it is free fall towards March 2020 low as I don't see much support. Any opinion? ---------- Many of us have lived thru the 2008-2009 market crash and left us with " LESSONS LEARNED" . With that said.... Some of us were busy today as we (again) reviewed our portfolio's and took action (buying cycle) on our pre-planning program (while waiting for the market turnaround). We used " SOLD" (all shares) of selected securities that went lower than we had expected (investor panic cycle) but are still considered "gold" for income oriented investors). We then bought back all of them at the " LOWER" Market Prices ("increasing" our current dividends and distributions in our portfolio's).... We are not of the current opinion that the market has bottomed but we do believe that the securities in the "Sell/Buy back cycling" is over sold. We added three (two on our watch list) securities to our current buying that also are considered (WAY) over sold.... Some of us are following the market down but not buying at all. This is our first buying cycle since the major dip. If the market has bottomed (which many of us do not believe but do believe the NasDaq may have), the current MktPrc's are considered " BARGAINS". Take a look at your current portfolio and analyze your current winners and use the SELL/BUY BACK methodology (opinion of course) but do " NOT" sell any winners to buy the losers. You might "NOT" want to buy any securities (or CEF' s) you know little about (or have not been tracking). This is why many of us use a " WATCH LIST" to track (and learn more about them).... By the time any of us see sufficient support and feel relatively safe to buy (that we are comfortable with), the "bargains" will all be gone to the daily/weekly traders. Keep in mind that when using Sell/Buyback" methodology we have lowered the MktPrc considerably and we should have (going forward) some positive CapGain to add to our dividends and distributions (which helps us reach our yearly Goals and Objectives).... One single opinion of the many I am sure.... Live Long and Positive....
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Post by xray on May 14, 2022 10:27:35 GMT
sam, Sell/Buybacks ---------- Expansion of SELL/BUYBACK's.... For the better performing securities in our portfolio's: Investors who are very conservative, will sell but not Rebuy securities until they see the market bottom. Investors who are short term players will usually buyback only 50% of what they sold. Investors who are Longer Term investors (for continuing current dividends and distributions) will buyback 100% of what they sold and will probably do another sell/buyback if necessary.... One single opinion of the many I am sure.... Live Long and Prosper....
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Post by uncleharley on May 14, 2022 13:02:59 GMT
There are few Tech. analysis guru here. uncleharley certainly does that. Many of the popular CEFs are at 61.8% Fib retracement (March 2020 low to Mid 2021 High). S&P500 hit like 19.5% low from Jan 2022 High. I assume if you think market has hit bottom or almost towards low then it might be good time to buy these CEFs and on other hand if these CEFs broke below these levels then it is free fall towards March 2020 low as I don't see much support. Any opinion? I always have an opinion. Fwiw it got me into trouble last week when I expanded my shorts on Wednesday and got my clock cleaned on friday. Oh well, My current opinion remains that the S&P is in a consolidation pattern, which is normal after a sharp move in any direction. How long that consolidation lasts remains to be seen, however my opinion is that it will be rather short lived and then continue down. That's my book and I am sticking with it. |
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Post by bizman on May 18, 2022 15:47:02 GMT
Food for thought from Barron's. The Debt Time Bomb Facing Closed-End Bond FundsFrom the article: "Rising interest rates also increase fund leverage costs. That can lead to income or dividend cuts on top of falling bond prices in funds’ portfolios. Worse, closed-end funds have regulatory leverage limits, typically between 33% and 50% of assets, that they cannot exceed. Sharp market declines can force them to sell their portfolio’s securities at fire-sale prices to reduce their leverage ratios. Such forced selling happened in both the 2008 and 2020 market crashes. Funds investing in high-yielding master limited partnerships, or MLPs, that own oil pipelines fell as much as 78% in 2020, in the case of Goldman Sachs MLP Energy Renaissance (GER). In the fund’s May 31, 2020, semiannual report, management stated: 'We believe the selloff was exacerbated in the [MLP] sector by technical selling, as closed-end funds de-levered to reduce volatility and, in some cases, to maintain compliance with leverage covenants.'” |
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Post by xray on May 26, 2022 19:02:15 GMT
johnsmith, MY: johnsmith, Your: care to share 5 well managed CEFs to keep an eye out for major discounts?xray There is a "OLD" saying: "Better to stay quiet and believed to be a fool than to speak and remove all doubt". With that said.... The investors (not traders and hedge funds) are buying into a declining market that has "not" yet stabilized as we have been going forward. Many of us are "taking notes for current and future analysis" as the market declines" and have frozen any further buying/selling.... I am following the decline and the "BEST CURRENT FIVE" for income holders to continue to hold are the following: HGLB
KYN (penny stock - with HIGH RISK)
MFD
THW
DPG The above is posted with the caveat that today does not speak for tomorrow and that we should continue to be on the sidelines (with some cash) and continue to wait for the turnaround that is sure to come at some point (hopefully in our lifetime).... Some of us realize that (Pimco) bonds are talked about a lot but I haven't been able to find any that computer analysis currently likes (since the market direction is currently down and we appear to be in the "PANIC SELLING" mode. Great for traders and hedge funds but not for investors. Income investors appear to be doing well as dividends are not being reduced and thus we should have a "positive" year no matter what the market does.... ---------- You (if retired and looking for the 4% ROI)should be doing very well (with a current 9% dividend average against the five securities) against the previous "turmoil" in the markets [No Panic currently shown by any of the dividend oriented investors). Currently, as of 5/23 the NAV's are up 3.5% and the market prices are up 2.5% from my 5/11 posting to you (while others were fleeing the market). We are still far from market stabilization and I remain very (posting quiet) during this (volatility) period that we are currently experiencing. Most income oriented investors are currently holding steady with their previous SB changes to their portfolio's that I talked about earlier. Basically we are doing well against the 43% of the securities that are currently down (some substantially) against their previous numb3rs .... My analysis data continues to show " negative numbers" currently for the general market and another look see (further analysis) is required this coming weekend.... Live Long and Prosper....
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Post by retiredat48 on May 27, 2022 4:13:15 GMT
Thanks xray...
R48
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