Fidelity reduced the tax basis of my nrf lots last night. I called for % roc, but rep said that comes from tax dept and they not in on weekends. Info not on nrf website as of 5 minutes ago.
On a split adjusted basis, nrf paid 1.90 per share in the calendar year (25 x 2, 25 x 2, 50, 40). Fidelity reduced the basis of one of my old lots by 1.12 per share. If that is the correct number, then 1.12 / 1.90 = 58.9474% roc.
However, do not depend on the above because I bought and sold so many nrf shares last year. I do not think Fidelity allocates roc to sold shares. I think they take aggregate roc and allocate it to shares held on 12/31.
I suppose NRF will get around to posting info on the website before the snow here melts. Geeze, if they can release the info to Fidelity, why can't they release it to us at the same time?
How about, An index created by Morgan Stanley Capital International (MSCI). The corporate name has been changed to msci, but it's origin was Morgan Stanley Capital International.
I'm doing it backwards. I'm selling nsam short then exercising the option to cover.
So today I put in an order to sell short 10,000 at 24.69. Only sold 5,700. Price went down so I closed at 24.31
for 2,147 (1.55%) profit. The decided to do half. Sold 5,000 short at 24.69. Bought them back at 24.38, pocketing another 1,532 (1.26%). Two round trips backwards for 3,639. Wife will wanna call them dinner trades since she knows the definition.
Shorting is fun and easy when you hold a contract guaranteeing your closing price (22.50).
Below is a clip from CC transcript:
"........deciding which business was appropriate to spin-off at this time"
Which means at least one other business was being considered for spinoff now. Europe was chosen over at least one other business. I wonder which business was second to Europe. I suppose I'll find out when the announcement comes.
Hamo ain't finished getting the yield down. Otherwise, NRF is just another slow-grow equity reit with a commercial mortgage kicker. My cost of my core position is long ago fixed. The yield on my cost is just fine with me.
As can be seen from the tape, the market wasn't thrilled with NRF's CC
I will listen to the replay to confirm what I think I heard from Tylis.
The question was to the effect, Was inclusion in the RMZ a consideration in deciding to spin Europe?
I think I heard Tylis answer, yes it was a consideration in deciding which company to spin off. If I am correct about what he said, then it seems at least one more spinoff is under active consideration.
Hamo ain't done getting the yield down.
Bill Gates had a concentrated portfolio. The counter argument to diversification to avoid way overweight positions is ride your winners and sell your losers. The typical retail sells winners out of fear the paper gains will be lose and holds losers hoping to get out even. That's why the pros make so much money off retails.
Just talked to Fidelity specialist. I can instruct Fidelity to exercise and immediately sell underlying stock (using day trading buying capacity) OR I can sell short against the box and later exercise the call to cover. As long as I close the short sale before next Jan, the constructive sale of the box rule does not apply.
Fidelity now showing 11 million nsam available to short with no htb designation.
Thus I have plenty of options to avoid getting screwed by the mms' spreads.
Noooo, no no. I never said bugged. I said my apartment shares a common wall with the boardroom and the wall is thin. And if you believe that, I have a great bridge for sale.
NSAM at 24.00 = calls 1.50 in the money. Yet bid on calls = 1.30. DUH!! Gotta be nuts to lose 20 cents on top of time value. If I wanted 1.50 for my calls, I'd exercise and immediately sell.
Too early for that. I can tell you that the combined first post-spin dividend will not be less than the last pre spin dividend as a reduced post spin dividend is a Wall Street no, no. It just won't happen.
The spin ratio is irrelevant. The important thing is the value of your newco is more than the drop in value of NRF. To illustrate, if the value of a new share is 1.50 and the price of nrf drops by 1.00 on the spin date (assumes 1:1 spin ratio), you win by 50 cents per share.
If the europe assets spun out cost 2 billion and nrf has 25% equity, the equity is 500 million. If, by the spin date there are 400 million nrf shares outstanding, then each share of nrf gets 1.25 of value. If the value of nrf drops by 1.00, you win by 25 cents per share.
Hamo thinks the market will pay substantially more for that 500 million of equity in the european market as a stand alone than the US market will pay for it buried inside nrf in the US market. That's why he is doing the spin.
Thank you, lunco. I'm still working on the 15 Point dinner card you so kindly sent me.
I suggest nobody sell either today. More good news tomorrow. NRF offering Monday, which NSAM will include in 2015 cad est. So nrf gets a temporary dip Tuesday while nsam gets a bigger bump.
It's 648 dollars ( I don't use dollar sign) for dinners, not 648 dinners. I keep about 58% of short gains after taxes so I net about 376.....good for 3 dinners out since we rarely spend more than 120 for dinner and drinks (to toast company paying for dinner). Toast tonight was to nsam. Wife just loves these "free" (her term) dinners out.