Thanks hcomhlu, I will take your somewhat illiterate suggestion under consideration. But be advised, owning the stock is not a prerequisite for participation on the board only a willingness to share information and good manners.
Posted this before but Yahoo seems to have lost it. Tired of J.F.'s wild ride stocks. I can find yield with less drama. As for HLSS, I don't like seeing my stocks or their close associates (OCN) constantly in the financial headlines over regulatory problems. NRZ is much less controversial (so far).
"Perhaps the SNR earnings are for a partial quarter" I hope not because it would mean the missing earnings went to NCT I assume. That would make the 12 cent dividend difficult to sustain. Having booked my loss in NCT, I'll check to make sure the time limit has passed before I buy it back. A little puzzled why a company that announces a 10% dividend rate isn't treated better by the market.
Other alternatives to owning pipelines while avoiding K-1s: CORR which is a REIT and there are a number of closed end funds holding pipelines. The one I own is TYG which reports distribution on a 1099 with the 'return of capital' box checked. There are probably also ETF and open end funds but none come to mind. Then there's always KMI.
Stagg, I agree with your distaste for K-1s. I found myself making investing decisions based on K-1s. My solution was to hire someone to do my taxes. They can deal with the K-1s while I concentrate on investing. For example, wanting more utility exposure, I went with APU which is a partnership but yield is double what you'd expect from a utility. However, I'm becoming aware of another problem which pops up with long term ownership of partnerships. That being the cost basis is eroded by all those 'return of capital' yield payments which makes selling them a tax problem. Then there's the situation where one uses up the entire cost basis and now must start paying taxes on the 'return of capital' distributions. It's not apparent when you've reached that point. I had to ask Fidelity to send me a customized print out of the payment history of each of my partnerships from the time I bought them. Bottom line is I'll still buy a partnership but only as a last resort.
I think it's because the Canadian economy is very dependent on selling their natural resources. When oil/gas decline it threatens the whole national economy unlike what we see in the U.S.
Norris, the governor's campaign funds come from the downstate limousine liberals. The upstaters are too poor to have a voice. Banning fracking will assure things stay that way. They think building casinos in that economic wasteland is the answer. They should look at what's happening in Atlantic City. There just aren't enough compulsive gamblers to exploit to make the casino bailout work. RIP upstate New York.
It failed. I expected to take a hit on oil E&Ps but the damage was more widespread. Pipelines and even business development companies were beat up. The biggest surprise was FFRHX, a conservative floating rate fund, also was taken out and shot. Today, I added to my position in DIV, a diversified high yield ETF. Yield is around 6%. Don't believe Yahoo's 3%. It's been fairly stable through it all.
"Crazy actions by political people" The last time the ruble got into this much trouble, the Russian politicos blew up a few apartment buildings and blamed it on Chechnians (sp?). That's how far they will go to distract the populace from their financial problems. Anything is possible from here. I guess it's best to keep some cash and a buy list.
"Working hard to safeguard our ability to pay future dividends" isn't exactly an ironclad guarantee of no dividend cuts or of dividend payment at all. Especially with four new ships coming on line in a field best described as in turmoil. I'm pondering a half position in NAO but it seems more like gambling than investing. Am accumulating some cash but the mindset of "don't buy it today- it'll be cheaper tomorrow" is beginning to set in. Although that press release probably sets the bottom for NAO. (Famous last words)
This is ironic. Wasn't long ago that we were talking ourselves into buying SFL because it was diversifying AWAY from the oil tanker business.
one caveat to what ed said: the cefconnect site will only help you with closed end funds. It will not cover exchange traded funds. We tend to use them interchangeably but they're not quite the same. My experience is the ETFs tend to sell at or very near asset value while closed end funds are all over the map.
Ed, my only direct exposure to China now is MAPIX. I sold my two Chinese oils, PTR and SNP earlier this year at a profit (for a change) because they were flat lined and I was holding too much oil anyway.
Watching a whole year's gain ebb away, I'm reminded of something written by Warren Buffet. He mentioned the stockholders in Berkshire Hathaway lost 50% of the value in that company - four times. Sometimes it's necessary to step back and try for a bigger perspective. Volatility happens. Our job is to find healthy companies through it all.
keebon, seems we're getting hit twice. Once if we own the highly leveraged energy companies and again if we own the companies that loaned them the money (PSEC and who knows who else)
Mark, I really don't understand why someone who knows a dividend cut is coming would be making additional buys. Makes no sense unless a deliberate head fake to throw everyone off.