What Did You Buy Today?

[Jimbo]

Used the jawz of life and pried open my wallet to pick up some T today.

Picked up some COP the other day and looking at BP next.

[ChadR]

Picked up 24 shares of NOV yesterday.

[hendi_alex]

Picked up some EMR trading near its low for the year. Will buy some PG if it dips under $80. Also am watching UL very closely.

[crimsonghost747]

Initiated a position in Trina Solar (TSL) on Friday and a couple of day trades with CSIQ during the past week to make the time go by.

[twil]

COP to average down my cost.

[rapidacid]

+22% more BP

[rapidacid]

Since the 10th of March I've accumulated 153% more BP. Done with that guy now and looking to accumulate cash. ~40% of my portfolio pays out in March so should be able to buy either more BBL or T soon.

[Be Here Now]

(03-13-2015, 07:37 PM)hendi_alex Wrote: Picked up some EMR trading near its low for the year. Will buy some PG if it dips under $80. Also am watching UL very closely.

I started EMR yesterday. The chart looks good for bargain hunting, and FAST Graphs shows the price has finally dropped to the 15 P/E price. Any time EMR is at or below a P/E of 15, it is a good value. Its 'normal' P/E is 18.7.

I also topped up my position in HTGC. Several days ago I sold the last of my NMFC. I am slowly selling all of my externally managed BDCs, and concentrating on those that are internally managed, HTGC and MAIN.

[hendi_alex]

I finally decided to dare the Fed to raise rates. Bought REM, an MREIT ETF, a few days ago. Then today added KBWD, a BDC ETF, and ROOF, a property REIT ETF. Already had a fair amount of property REIT exposure via CSG, HCP, IRT, and MPW at about 12% weighting.

I continue moving toward longer term positions. Portfolio now includes longer term positions: CSG DEM DLS EMR IDV IRT ITRN KBWD KED KMF KMI MPW MRO REM ROOF SLB TNK VGK. Focus is being geared more toward ETF/CEF exposure and less on individual tickers.

Have lots of covered call positions, with calls generally being sold about six months out. Included are: CCJ COP ESV HCP HIMX KMI MRO OIH T TNK

[Be Here Now]

(03-19-2015, 09:31 PM)hendi_alex Wrote: I finally decided to dare the Fed to raise rates. Bought REM, an MREIT ETF, a few days ago. Then today added KBWD, a BDC ETF, and ROOF, a property REIT ETF. Already had a fair amount of property REIT exposure via CSG, HCP, IRT, and MPW at about 12% weighting.

I continue moving toward longer term positions. Portfolio now includes longer term positions: CSG DEM DLS EMR IDV IRT ITRN KBWD KED KMF KMI MPW MRO REM ROOF SLB TNK VGK. Focus is being geared more toward ETF/CEF exposure and less on individual tickers.

Have lots of covered call positions, with calls generally being sold about six months out. Included are: CCJ COP ESV HCP HIMX KMI MRO OIH T TNK

Interesting to see that you are getting into mREITs and BDCs. I thought you were against owning them. Am I mis-remembering ( for you younger participants, this is normal for us grey hairs, so laugh along with us ) or have you changed your mind?

I also have CSG, EMR, KMI, HCP. I am not familiar with many of the others, so I am going to look into them.

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Now you have me looking at CEFs. Questions about KED and KMF. According to Morningstar, KED has ~30% leverage and KMF has ~33% leverage. Did you look into MLPL as an alternative? Its leverage is 50%.

Uranium is certainly off the beaten path. Is that part of the attraction?

[hendi_alex]

I noticed that the MREIT ETF is now trading at the same level as it was during the 2009 lows. Most are selling below book value. While I understand that book value can be misleading for these investments, the idea of buying a dollar's worth of assets. for less than a dollar appeals to me. Also, it appears to me that the fed has almost no ability to raise rates in a significant way. My BDC and MREIT exposure is weighted to reflect the inherent risk that they pose. Finally, seeking exposure via a diversified ETF removes much of the company specific risk from these businesses that are very difficult for the layman to understand.

I have never been against owning these investment, but do feel that a person should be very careful WHEN he/she owns them and should be aware of the oversized risk when setting allocations.

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I looked into several MLP ETFs but didn't like one aspect or another for each. MLPL for example has too much leverage for my taste and also is an ETN. I'm not sure what that means but think that the fund holds no stocks and only promises to pay the value based upon the performance of the underlying index. The promise is only as good as the backer. Also, MLP ETFs incure liabilities over time, something to do with MLP rules. I'm fuzzy on this, but just another complication that I can live without.

In general, I don't like CEFs, but in this case was the most straight forward way to buy a basket of MLPs without any K-1s or other potential tax issues. KED has under 25% leverage and KMF has 31% leverage. I would prefer to own a similar fund that has no leverage. KMF has 308% coverage of its leverage and KED has coverage of 406%.

[Be Here Now]

(03-20-2015, 07:43 PM)hendi_alex Wrote: Also, MLP ETFs incure liabilities over time, something to do with MLP rules. I'm fuzzy on this, but just another complication that I can live without.

Thanks for your thoughts.

I can tell you the problem with MLP ETFs. If an ETF has more than 25% of its assets in MLPs, it must pay income taxes like a C corporation. This is a very large drag on performance. One of the largest such, AMLP, has an 8.56% expense ratio because of this.