Thu, Jul 10, 2014, 1:07 AM EDT - U.S. Markets open in 8 hrs 23 mins

Recent

% | $
Quotes you view appear here for quick access.

Central Fund of Canada Limited (CEF) Message Board

clrodrick 410 posts  |  Last Activity: 6 hours ago Member since: Dec 2, 2005
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Since this board is packed with a number of successful investors, I have a good feeling several of you can help me out with understanding what I need to do. My question is what do I need to do tax wise when I sell off a few stocks in a taxable account that leads to a known large tax bill due from short/long term capital gains? Last year I got dinged when a stock spin-off occured and it was partially a taxable event and I ended up owing the IRS a lot and got penalized more $$$ for waiting too long to pay what I owed.

    I know there is a process called 'Quarterly Estimated Tax Payments' where one sends the federal/state treasury checks roughly once every 3 months for estimated taxes owed. I think this is used more by people who are freelancers and not getting taxes taken out of their paychecks automatically. I'm not sure if this is the right tool to send the Feds/California a check for what I know I will owe? The forms for this are 1040-ES (federal) and 540-ES (California).

    Is there a different (easier?) method I can use to pay taxes owed now instead of waiting till next April and getting another penalty for owing too much? Since I did not send in the 1040-ES for the first two due dates, I'm not sure I should send in payments for the next two due dates if that makes any sense. I just don't know if using 1040-ES is valid if you don't do it for all 4 payments?

    Thanks in advance...

  • clrodrick clrodrick 6 hours ago Flag

    I think MPC is the most undervalued of the lot, but all three are attractive to me.

  • Reply to

    Dividend

    by milo70kid Jul 8, 2014 6:32 AM
    clrodrick clrodrick 6 hours ago Flag

    FYI, the FSC message board is a pretty good group of people who discuss a lot of BDCs. I would encourage everyone to check it out. There seems to be a consensus that FSC will look to do another secondary offering if/when the price gets back up close to $10.50/share. Current NAV is around $9.80 I believe.

  • Reply to

    Where's trading correlation?

    by dar200 13 hours ago
    clrodrick clrodrick 7 hours ago Flag

    Not to mention bouncing off $20 as a ceiling

  • clrodrick clrodrick 7 hours ago Flag

    This is a much better situation than I was expecting also. Guess I have to take back my criticism of managment from before when I thought they were going to do an offering below $21.

  • Reply to

    Golden Gate Capital

    by alexalekhine 9 hours ago
    clrodrick clrodrick 7 hours ago Flag

    Nice find alexalekhine!

  • Reply to

    Decided to sell units today

    by clrodrick Jul 8, 2014 3:37 PM
    clrodrick clrodrick 8 hours ago Flag

    I agree, my yield on cost was reasonable also, and it almost caused me to hold on for the long term. I just felt like I'll get a chance this year to potentially buy back in a lot lower while locking in an amazing gain for the short term. If in fact that chance never materializes, then I'll just have to accept the fact that I was wrong. Wouldn't be the first time I made a bad move! I try to really limit the trading I do in my taxable account for tax reasons. Like Warren Buffett said, most of his investing regrets were securities he sold way too soon. GLTA.

  • Reply to

    Dividend here is now 6%

    by oropan45 10 hours ago
    clrodrick clrodrick 9 hours ago Flag

    NNA has no doubt been the most frustrating stock for me to hold. This latest down move from $3.80 to a new 52-week low today of $3.26 comes with literally zero news. Today's volume is quite high I see, so obviously someone just wants out or has inside info of some kind. The rest of us just left holding the bag. I bought more at $3.48 yesterday and yet more again at $3.32 today. I'm starting to feel like the rube who sits down at the poker table not knowing all the other players are former world champs, LOL.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:50 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:46 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:46 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:45 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:45 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:45 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    LINE vs LNCO

    by thewisejman Jul 8, 2014 3:36 PM
    clrodrick clrodrick Jul 8, 2014 8:45 PM Flag

    If you think that's bad, KMR usually trades at a $4 discount to KMP. EEQ always seems to trade at a discount to EEP. I don't get it either, but it is what it is.

  • Reply to

    NLY is a SELL!

    by thewisejman Jul 5, 2014 11:14 AM
    clrodrick clrodrick Jul 8, 2014 8:37 PM Flag

    Almost a 9% yield. Trading at $16.50 probably around a 8.8% yield. NRF will still be the same as before, raising money time to time and making more deals to increase CAD and increase the dividend slowly but surely. The difference is now that the management arm is separated, it will be growing a lot faster than NRF. Every new deal NRF makes will be music to NSAM's ears. So NRF will be the nice yielder but slower on growing the dividend. NSAM only yields 2.2% but the company will grow revenues quick and could afford a quickly growing dividend stream should they choose to go that route.

    Might want to hold off buying NRF though just yet. There is a potential 3.5 billion dollar acquisition in the works, in which case NRF will have to dilute itself to make it happen. Anything under $16 would be my buy point.

  • Reply to

    FSC is still CHEAP

    by thewisejman Jul 8, 2014 1:13 PM
    clrodrick clrodrick Jul 8, 2014 8:23 PM Flag

    I agree with your thinking, also considering a limit order buy....say at $9.96 (LOL)

  • Reply to

    HFC

    by thewisejman Jul 8, 2014 11:11 AM
    clrodrick clrodrick Jul 8, 2014 8:22 PM Flag

    Amazing to me how badly the refiners are trading this week. My buys in HFC, MPC, and VLO are all 4% under water. The news about the oil export ban being lifted got taken completely out of context. I assumed after the panic, these stocks would recover but no luck (so far). I'm just going to hold onto them for now.

  • Reply to

    just pumped up MAIN position.

    by nadsmis Jun 30, 2014 3:22 PM
    clrodrick clrodrick Jul 8, 2014 8:15 PM Flag

    Before I put you on ignore scandiapartners, please stick to the PSEC to post your dribble. MAIN board is for intelligent discussion only.

  • Reply to

    Dividend

    by milo70kid Jul 8, 2014 6:32 AM
    clrodrick clrodrick Jul 8, 2014 8:13 PM Flag

    I own FSC, it is a decent BDC and yields good considering most of their investments are senior loans. Still, notice how it was not too long ago that FSC cut the dividend shortly after doing a share price offering. That upset a lot of people. Also note that MAIN issues bonus dividends periodically in addition to the normal ones. Plus, MAIN is very conservative about their dividend coverage ratio. All in all, I like both but MAIN is the safer choice for income seekers.

CEF
14.53+0.11(+0.76%)Jul 9 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.