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Renren Inc. Message Board

  • mo2936 mo2936 Apr 7, 2005 5:59 AM Flag

    Tug--------------MO

    I have an idea for you to explore for this year if you believe this market is range bound and can go higher from here soon. These are all equity CEFs with difined distribution plans which at this time have nice yeilds.-----------------for your inquiry. AMO, ASG, CWF, USA----I also feel after this past minor decline in Emerging market dabt such as EDF, GHI, SGL, GDF and such you serve you well this year.

    Read this article from Pimco, this is a knowin man. Good luck.----------MO

    http://www.pimco.com/LeftNav/Late+Breaking+Commentary/EMW/2005/EMW_4_05.htm

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    • no, that is just another way of saying ROC....

      do not believe you will find a direct comment or number given to amount of ROC reclassified as ordinary income....is done after end of CALENDAR year and appears in 1099's

      even the figures you see for tax return of capital (ROC) are not know till end of CALENDAR year...

      all futher confused by co's filling for FISCAL years.....only required to file for CALENDAR year if is end of FISCAL year....
      creates partially know ROC that may or may not be mentioned by co for the partially known period..........ie. if filing is for FISCAL year ending 4/05, can contain know amounts of ROC for 8 of previous 12 mo's (ending with 12/04)..but first 4 mo's of 05' (the last 4 mo's of co FISCAL year) is an unkown.....

      as per prior posts, ROC is only reclassified to ordinary if is excessive, regular and company has a large loss carryover (from prior years) compared to size of company......understand is 'formula' for determining once those 3 requirements are met....though have yet to see such...most of my understanding comes from one of the partners in cornerstone advisors, via several phone calls....also from zweig funds via press releases and phone calls...

      just opinions.......tug

    • Tug....Your mention of IRS taxing ROC. Is that what I see in some CEF reports as 'Tax return of capital'?

      Thanks...Kel

    • For what its worth, your list of picks here are all SELLS in Herzfelds newsletter.

      • 1 Reply to bare4
      • bare--Thank you for the info. Bt the time hersfeld gets aroud to issuing sells it's time to BUY. Mark my words as you will see when this market starts to rise as today it is time to buy. I can smell when it's time because I have been into this for( CEFs) for 20 years.

        H is a poor service and i learned from the best-The old Moringstar CEF Repot and Wisenbergers. Notice but a few things about the mentioned CEFs. Notice the 52 wk high/low. They( what I mentioned plus bot HQH, HQL last few days. Also this market is in a trading range near the bottom( could go down 4%-5% DOW more. This is why I ease in at this point and one big thing--You buy your staw hats you want to sell in the spring in the winter.

        You can't beat buy low, sell high, that's the trick. When I establish a scenario I can look at the yeilds historically speaking and this tells me this is time.

        Herzfeld is a poor excuse for a timing mechanism except for a contraian indicator.-----------------ASK TUG if he ever subscibed to the old Moringstar CEF Report. If he did as I dis he was blessed. ------CEFs are by FAR the best kept secret on Wall Street as a poorly trated step child.-----Annabel Believe, MO --and I thank you for giving me a chance to expound.

    • based on current/ongoing 'developements' within SEC with regards to MDP's.....all MDPs are at greater risk than in past.......

      risk is directly related to premium (if any)as well as nature of distributions......

      MDP has never been good for long term growth of co's, though has been good for investors.....

      co's involved now have good 'reason' to alter existing MDP's despite shareholders feelings on...

      as current situation is either resolved or continues to worsen the fate of many MDP co's current prices are at stake...........

      this is not likely of a major short term problem, save rumor and panic as developements continue and actions on part of a few co's occur....likely mo's away if at all....

      as per prior posts here, SEC is at this time, allowing NO new MDPs............

      if this becomes permanent.....they have few choices for handling current MDP's....

      ignore & let burn out naturally...

      terminate all current exemptions that allow for MDPs.....

      terminate on case by case basis.....

      establish policies that current MDP's must follow.......

      start investigations of individual co's for abuses...

      all of above will allow boards to be motivated for ending of MDPs....

      does NOT mean anything will happen, just that the potential risks involved with MDP's is much greater than in prior times.......

      further, thus far, is pointed at co's with regular distributions of gains (if any) that are made at any time other than end of year...

      there are no hints that such will ever apply to the CEFJ's as they regularly distribute investment income, rather than gains.....there are no pure CEFJ's that use MDP (that am aware of....some hybrids)

      none of the above takes away from potential value of plays you mentioned........just something that should be considered when selecting among the group.......

      tax client on way will read article later, and appreciate the thoughts.......

      just opinions...........tug

      • 1 Reply to tug8boat
      • Appreciate your info Tug. to me this is useless beauacracy throwing paper airplanes in the classroom. If anything is done it may have CEFs with defined plans to be sure as a general rule have this posted up front as a disclamer as on a pack of cigarettes. I feel it is of so minimal concern as to be negligable.-----scare stuff of the lethergous.-----------------Always a big SMILE----MO

    • BTW--I have been accumulating all those CEFs and more for the past 2 weeks. ---------------------------------MO

 
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