I added VNRCP yesterday (preferred). 35% below par, yielding over 11% and pays divvy monthly. My stock picking lately hasn't been to good (to put it mildly) but I'm slowly going to add to my MLP holdings as I did back in '09. SLOWLY is the key word. Energy may not have bottomed yet but it CAN'T go much lower (he said with a question mark). Even with oil down again today some MLPs bucked the downtrend nicely.
Vin. Re: HLSS. Are there any tax issues with their divvys, like ROC or a form they say on their website that has to be filed with the tax return?
Official Journal of the EU - Russian sanctions
Today EU spelled out in more detail Russian sanctions on oil exploration and extraction. It appears that limitations are imposed only on drilling above polar circle at depths exceeding 150m. The Universitetskaya-1 well in Kara Sea has been drilled to a sea depth of 81m. May be this is a 'loophole' for NADL or just wishful thinking?
Bill, my only "Risk" concern is a black swan with one of their rigs. They'd have nothing to fall back on and there could be an immediate crash in the stock, to fast to get out when normal investors would hear the news. I'm sure their divvy is reasonably safe for the foreseeable future, but it will probably fluctuate as the rigs can go offline for a while for maintenance or upgrades. GLTU
I owned AWLCF almost from the beginning and made some money but sold when I re-evaluated the risk of having only 2 rigs for production. Not my cup of tea.
keebon: Some performers for the past 52 weeks in the BDC sector:
Pretty much noname. The BDC sector hasn't been burning up the market for much of this year. Here's those noted on previous post with #'s from 12/2/13-12/1/14:
2013 2014 %down
BDCL: $27.63 $22.76 -23.1%
FSC $ 9.39 $ 8.55 -9%
BDCS $26.82 $ 23.73 - 11.5%
ARCC $$18.27 $16.13 - 11.7%
TCAP $29.62 $20.71 -30%
OHAI $7.61 $6.03 -20.7
FDUS $20.11 $15.80 -21.4
PNNT $11.93 $10.80 -9.5
PSEC $11.17 $9.08 -18.7
SFL has no preferreds or bond issues as listed by Quantumonline. Great site, by the way for all issues related to any company. Thanks to jerseyvinny.
Dec. 2 (Bloomberg)
Saudi Arabia would consider cutting oil production if other countries, including non-OPEC member Russia, joined in limits, Reuters reports, citing former intelligence chief Prince Turki bin Faisal.
“The Kingdom is not going to give up market share at this time for anybody and allow producers whether in Russia, Nigeria, Iran and other places to sell to Saudi customers because we cut our production”: Turki
Turki said that Saudi Arabia, others would be willing to cut production if there was a “reasonably guaranteed oversight of production quotas,” according to Reuter
a list of those beaten down stocks I want to own in the near future.. I'm hoping to catch some of the lightning that I did back in 09-10 as the recovery began. MLP land is beginning to get to bargain basement prices. The big question is when to start pulling the trigger.
3Q divvy was based on earnings through 9/30. A lot has happened since in the oil patch. SFL has weathered the storm so far very well (until today) as they are in very good financial shape. 4Q results will be very interesting to see if the severe drop in oil prices has any effect on them. It shouldn't but we always say that about the pipelines too. GLTA.
Finally threw in the towel on LINE today and actually made a bit of money in cap gains. Horrible outcome after 6 years though. Wound up like a high paying CD. Good interest (dividends) and got just about my investment back. :~(
FRO2012, if I am not mistaken just followed SDRL and NADL and stopped it's dividend. Hemen Holdings is JF's personal private company created to hold his shares and dividends from all his companies. He does some of his own trading through Hemen. SFL IS tied to all the other JF companies and will eventually feel the same pain. As far as BK, I highly doubt that but shareprice on SFL under $10.00 is a possibility if things continue to decline. JMHO, of course but been there, done that back in 2009. Don't mean to upset anyone but it's just the way I see it currently.