Added the last one to my stable of "small growth" stocks last week at .525 and .55. Its up last couple days on pending news but as all of those that I have added in my venture away from the well known avenues of income stocks, this one will flounder around and drift lower if news is delayed.
The stock is ERHE, its energy of course, awaiting block awards in GOG (Gulf of Guinea off the Nigerian coast in W Africa), they have preferential rights in a number of blocks and have partnered with several majors in different bids. If you have the time check out their website and the RB board (although its a bit noisy, there's also good info to be sifted out of the chaff there).
That is what is happening with others that added and in some cases such as SMEFF, I could have entered a bit lower than I did but as I have always stated ... I never was good at timing so I simply attempt to make initial entries at what seem to be a reasonable price.
My IMH and NFI are still floundering, being brow beaten by the infamous duo of Greenspeak and shorties while waiting divie announcements. The Canadian O&Gs have also been weak awaiting quarterly updates, annual reports and earnings. I await the upturn to more nornal pps to reduce my 4x position in NFI and refill the coffers a bit.
Also this is entering the no mans land where there is no heating or cooling demand that is known as spring shoulder season (one in fall also) ... this USUALLY also causes a drop of 10-20% in their pps. The question of the year is "Is this time REALLY different" and will they not drop off this year??
So far today mostly green in nice size so maybe will end the week in better stead ... I thought I was at all times low on margin purchase power before ... have $5.94 left after last purchase, lol. Although proportionately its nothing, the 15th-20th does bring those monthly distributions to start filling this empty tank.
Continue to hold:
Income Trusts: ACNJF APFRF AVNNF NVGUF PMGYF PWI
MBS REITS: IMH NFI
IDS: BGF CVP
CEF: BTO, EAD
Growth: ERHE SMEFF RTK TGA TUEFF
Since November-February is time frame that I always make my planned swaps and since I am heavy energy and its the start of the shoulder season... this time frame is usually my yearly lows for the folio ... this year is no exception although my expansion into growth adds extra volitily.
I notice that Crossman (maker of air guns and paint ball equipment) is readying an IPO of the IDS variety, early documents filed but none of the important numbers like yield or number of units to be issued.
These ramblings are those of an individual investor and what he has done with his monies. You must stick to your investment style, comfort zone and seek the advice of your professional investment advisor.
Luck to all
PS Tug, glad to see you are assimilating some of the TSX possiblities ... IMHO energy continues to be THE PLACE for both the income and the growth/LTCGs investor.
understood.......and am sure would share the feelings if wore same shoes......possibly why have swithed to 'investment house slippers'.....more room when questionable events lead to 'swelling'.....
Let's just say that major losses took me out of markets for number of years ... could not get through to broker used at time for a week and it even took them 3 1/2 weeks to determine what they had force sold and at what price.
A lesson as to how bad things can really get .. had very slight margin at time but when stocks like IBM hit dips taking it down to 20-25% value of the stock then nothing is safe from the cascade that starts if timely communication with your broker is unavailable.
"....a very sound and devastating trounching on black monday or friday (foggy as to its nickname at the moment) led me to an income investing ">lithb
asume is the one from fall 1987 when DOW was in the 2000's....market had fallen quickly for 3 days straight, down almost 15%...i saw an opportunity on friday at end of third day....barely got in my OEF orders by seconds (was still working at time and only had minutes after school was out)......
spent the weekend patting self on back as i had just went from almost all cash into these reputable OEF's at 15% cheaper prices than those before me........
those several seconds that i beat the market close by on friday.....were very costly
when market opened monday the fall was devastating another 20+% drop....and it was not done yet, DOW adding several more percent to the drop in next few weeks..over a 40% total drop....
took over a year to get back where i started, and i was one of the lucky ones....as was mostly out until end of first 3 days of the fall....thus missed almost 40% of the total drop....did not even know what an SEC filing was at the time...though suspect would have made no difference at all.......nor would i have ready access to them at the time
was a world wide incident....with many other countries getting even bigger hits......some less....not even sure what caused it...suspect overvalued, bad press on some topics of economic consequence and a universal movement of the herd......
once back to even on the OEFs..sold them, started first 'gambling type' investment.......and believe it or not was a canadian oil co called veronex (i think)....went in heavy around $2 a share and out around 6 or 7......bought a new truck and a boat........did do well on one other canadian oil play at the time...believe was richport resources.....after those two oil plays, totally lost interest in (do not recall why...perhaps burnt on a third attempt...just do not recall)......
bought my first CEFJ (late 80's...VIT) and soon after my first CEF..some kind of convertible fund that open ended years ago.....stayed away from OEF's and rarely did individual stocks.........save first experience at mousing before i even knew what it was...schwab stock of all things...as was where accounts were and son worked at the time......
yes, feel we understand each others motivations as well as sharing the common goal we all have, making money....
thanks for the reply, like knowing a little about fellow posters......and look forward to your future posts......
I am as open as one can be on such a public forum, sometimes maybe too much so. I am mid sixties, retired at 52 after 30 years for same company in the computer industry. Retirement was a prudent health choice rather than one financed by riches.
Worked long, hard and faithfully for the company and had reached a point of burn out and choose to exit without much security but alive rather than carted out in a box.
As to your peculiar spelling of my monicker ... I wrote it off to poor eyesight and I attempt not to be so small as to take issue with such a trivial.
I believe you understand that my discussion of my style was not intended as a slight to your approach but rather an explanation of my bias, predjudices and style to those uninformed.
Unfortunately its late in the game for me also but the need to protect my limited asset base coupled with a very sound and devastating trounching on black monday or friday (foggy as to its nickname at the moment) led me to an income investing style which allows me to sleep at night and has to this point been quite rewarding from a portfolio appreciation standpoint.
If I were so lucky to have 4 more years like last four, I might be able to relax just as I reach senility.
Enough for now
anomoly is likely a gross unerstatement........
interesing, is first time i saw the implications intended by your screen name ( though not surprising to me...as am slow on many things)....LTBH...the long term buy and hold..
may i inquire as to your age and employment situation (sorry....like to feel that is curiosity rather than nosey....though is a fine line...mine is curiosity)...also will apologize in advance if has been given before...is one of the conditions of age that i am bound to follow....
do uderstand your recent change in approach of canadian O & G......
also understand your longer term approach......mine is shorter, due not only trading dispostion.....but expected longevity...anyone with my 'habits' should have been gone long before now......
might also add ...in no way, do i doubt your longer term success...as you seem to have the motivation, DD and knowledge to prevail......as well as the sector to do it in........
must apologize for numerous times when reffered to you as lithb...for some reason am challenged in this area (likely to continue in future).....ie. have been calling OMK (old man knows)...OKM for years........though do appreciate tolerance shown by not only yourself and OMK...but any others i have been confused on...ie numerous times referring to abella as sam...........suppose is just my nature....seeing the trees but not always the forrest or vice versa....
never has any of this been ment to be negative in anyway.......
just opinions and with respect.........tug
First and foremost, I am an anomoly on the RENN board ... not one single word in any of my post ever pretain to day traders, short term traders swing traders nor any other variety of trader.
I am a long term income buy and hold investor (LTBH). Due to (IMO), all good income stocks being expensive coupled with the recent Canadian 15% WH invasion of IRAs and Roths, I have explored and and expanded my horizons to a few small "growth" companies.
These new additons are still long term investments and not a "trading" situation. This is my bias, philosophy and approach. With those understandings clarified I will give you my views ... just not as a "regular trader in US".
First, your broker choice is important. I use Ameritrade which offers two ways to buy Canadian stocks: online @10.99 unlimited number of shares via the 5 character OOTC symbol ending in F (for foreign) or for 29.99 for unlimited number of shares via phone broker assist.
If the stock does not have a 5 character OOTC symbol (they must be requested by the company and I assume theres a cost) then it must be order via broker assist.
Ameritrade awhile back switched online Canadian orders from NITE to Canaccord. This change was very beneficial for fill timeliness, spread and price. These orders are now routed exactly the SAME as when you use broker assist. Therefore only reason to use broker is for those without OOTC symbols.
There are a multitude of information sources beginning with each stocks website, pay sites such as stockwatch and globe investor.
With the WWW, google search, alta vista search, RSS ... its pretty hard to understand anyone, who is willing to spend the time and/or money, complaining of lack of info.
I am now well over 40+ boards that I read multiple times each day plus 7 groups and a number of private sites. It takes time, concentrated effort and even the pain of wading through mindless garbage to find those few meanung pieces of information.
I spend 12-16 hours a day reading and researching, usually including the weekend. I do not begin to cover the ground I would like. Now I could chose not to be "tied to the computer" but I am small potatoes compared to folks like Tug and others ... I must tend my garden faithfully for it to continue to grow and I need it to do so constantly as I started too late in life with too little.
A personal observation (although many love TEI board), until several years ago the TEI board was an OK place, even earlier it was a very good place .. today its a place I might visit every four or five months and immediately discover my reason for no longer visiting remain valid.
A side note that if you wish to follow the original TEI personality, Skelly and company is available from the Y groups without TEIs mindless blather.
Apologies to Tug and others however, when someone tells me they are trading income stocks ... they have lost my attention, sorry its my personal predjudice. For me they belong right there with those that short same, its outside my realm of reasoning and definitely not my style.
I happen to own Acclaim (ACNJF) and have since pre reverse split (a fair amountof time). I did recently pare my position unwilling to fund adding during the recent NFI take down. The stock is paying below my cutoff for a new position but will probably experience a jump mid year if/when its included in the new TSX trust index.
NAL I have always wished to own as a solid company, just yields too little for me.
None of this is probably what you wanted to hear but ain't no free lunch ... even tout sheets cost ya.
PS If its of interest, all my holdings and buyin points are listed in previous points as well as rationale for the planned swaps I make. I attempt to not make recommendations but discuss my portfoilio and reasons for my actions. All under the guise as an income investor.
hope lithb sees this to reply...as he is the closest we have to a visiting expert...
i trust him and his opinions as there is NO doubt as to his motivation
do understand.....is just opinions and that he would have it no other way.............nor would I....
we post on what we do and why we do it.......not to entice others...just to offer a point of view.......
is all for educational and growth purposes as investors..
none of us (i think) have any motivation of a Questionable nature........
all of us, would like to see others do well......we just suggest some DD possibilities that could help you.......
no intended attempts here to get you to invest in what works for us...just starting points for DD
the BPT caught my eye..even went to recent SEC filings on.....though not a super long term play...upper single digits years seems possible..
little pricey now...but if oil holds or jumps will become more so.......
like the fact that is good old US oil and company.....
granted the american royals...cannot do aquisitions......
but effective yield is 15% higher because is no cnanadian tax.....
realize is primarily a play on oil prices....
am i any where close, if assume that much of the distributions would be tax favored...ie depletion??
if time permits, would appreciate if you looked at BPT...especially lower part of page 10 of both the 9/30/04 & 6/30/04 periods:
any comments in general....also appreciated........have yet to study reports in detail...but am NOT familiar with O & G in general.......
not familiar with RB boared....have a link?.....
keep eye on EAD....as per prior posts on
as to NFI, you know my feeling on ......do wonder about the naked shorts and the threshold stuff.....as much of shorts were grandfathered for NFI, not sure that threshold rule would affect a lot.......
however, in light of new rules would think NEW naked shorting being allowed (which it still is (i think) with the addition that brokers can be held liable for the shares if shorters do not diliver in specified times (thus cancelling the new shorts as naked)......would suggest that brokers also have 'no fear'....will let you dot the i's
did you catch my earlier post to you entitled "yo, lithb" ?
only thing about professional investment advisors...is they do not give same advice.......though would think your holdings would stand a better chance than at least 2 of my 3.....possibly all 3....
First a reminder for those that may not be familiar ... I post my choices and reasonings without wishing to influience your investmenet choices nor wishing to cause debate. Simply as information that may cause you to be exposed and spurred to research new horizons ... not necessarilly focuing on specific stocks.
Most US royalty trust, pipeline and associated stocks are partnerships and I do not knowingly do such, thereby avoiding their multiple tax headaches. Their dividends tend to fluctuate very wildly in "normal" times ... not dependable/stable. Most have clauses that manditorially close out the trust and lower prices would force same on a number of them. The profit split structure is quite unfavorable on some such that the unitholder pays costs yet does not share in increased profits above a point or does not receive payment below certain points.
These are a few of the reasons I stay away from them, do not follow them and therefore plead ignorance on the specific merits of BPT.
RB (raging bull is just another site) ragingbull.lycos.com/mboard/boards.cgi?board=BB%3AERHE&origsymbols=erhe
With the anticipated announcement nearing, the noise level has increased significantly as has volume of posts, however if you go back a month or so (alot of posts) and read through em, you will also run across a number of important and useful posts. I do not know of an easy out.
As to EAD, I do not like bonds or anything to do with such, never have but EAD is reasonably liquid and have a small position as a supplement to my "financial" type holdings of IMH, NFI, BTO ... long term, income holding. I look at it as a spoonful of codliver oil ... distasteful medicine neccesary for folio health (I hope).
Guess may have missed your other message, will go back and look ... alot more activity here lately on topics am not interested so may have skimmed over it.
As to investment advisors, never met one I would trust with my money but attempt to let folks know THEY are responsible for their decisions and THEY need to be proactive ... not just jump blindly into what some faceless nameless internet entity says is good.
Read a message board post once that was pretty convincing that the market value of BPT was more than the value of its assets, and the last one out would be left holding the bag. Of course crude oil was lower then so maybe that has changed. It is on the NYSE SHO list so some shorts obviously still think that. But you have been lucky on stocks like that so far so who knows, just don't be the last one out.