I hold FEI, what you might call FIF's brother. On their balance sheet they show about $56 million in deferred taxes as a liability. I'm sure FIF had the same situation with MLPs having risen and the cost basis adjusted lower on many MLPs with the ROC (return of capital) factor.
Anyway, with the cap gains being paid out to shareholders, I'd think they could reverse some of that deferred tax liability and offset part of the distribution's damage to NAV.
Sounds like a good move. I wouldn't mind if FEI did the same type of distribution.
One thing lost in all the market hype and QE talk is the fate of SAVERS, that's older people that have actually saved money and want to do low risk things like hold CDs. Remember CDs (not the music ones). Used to pay 4, 5, 6, or more percent interest and old folks held them to supplement their pension or Social Security.
Now what's out there? Shysters selling them annuities or sending them into vehicles like junk bonds and BDCs. Might be OK for us guys, but not correct for your 80 year old mother or grandmother. These people have been devastated by the QE program and not much is said about them.
Sold the TZA (@ 20.46) that I bought last week @ 20.07. Managed a 39 cent profit. Still holding SPXU that shorts the S&P 500 X 3. Cost there about 17.50, now at 16.93 approx.
The DJIA is still showing greater strength than either the S&P 500 or the Russell 3000. Much deterioration going on that the 'DOW' is masking.
Ran a 5 day Yahoo comparison chart comparing PER with SDT, SDR, and CHKR. Was a surprise to see all 3 of those performed worse than PER over the last 5 days.
PER's 95% oil production is its strong point.
Kel.........(didn't add any more)
Don't hurry to buy. Will see a price below 5.50 again, probably before the end of the week.
I was looking at some Bull ETFs for PMs today (USLV and UGLD) and also @ KGC (Kinross Gold). Didn't do anything though, but was certainly tempted.
Could be better gold stocks than KGC, it's just the one I've tracked closely for a long time.
Nice job on that purchase. I paid a little more, but I'm OK w/ my entry point. Like you said, it moves a lot, could be back in the 14's tomorrow................or get bought out for $20 .
DJIA only down about 13 points......Russell and NASDAQ both down about 1%.....S&P 500 down a little over .5%. Carl Ichan says time for the market to cool off.
Was here a few months ago and did well, although I was out for the pop to $15. Already did all the fundamental DD here, so I know what a bargain SFY is. Two things I like the most are the concentration on the Eagleford and the low price to cash flow ratio (about 2 X, which is extremely cheap).
Glad I got the chance to sneak back in with the generally weak E&P group today.
Slick.....My SPXU is a position that won't seriously hurt me even if it goes down another 10%. I am careful with the size of the positions I take. Today's rally appears to be fading already.. The DJIA was up over 60 points, now only up 39. S&P 500 and NASDAQ are both negative on the day at this time.
ACOR has approved and pipeline products in the Neurological area. Looks like Nuedexta would fit nicely into their product line. ACOR's market cap is about $1.4 billion. With their moderate size, they'd probably have to do a stock deal (rather than cash) for a company of Avanir's size. To me that would be more desirable.
Thanks Sarge....another great report..............Thought it was a little strange that the stock had no activity yesterday (Friday) afterhours after the poison pill was killed. It was interesting though that AVNR felt the need to "bury" this news after the close going into the weekend. Always a nice place to hide news if that was their intention.
Of course, that gives the board lurkers a whole weekend to hash things over along with the trial info. A huge thanks to 'Places' and TS as well for their analysis.
Next week (maybe pre-open Monday) will be huge. Add this to the possibility the generic lawsuit is settled, an EU partnership (soon?).
Very surprised the stock isn't much higher in afterhours trading.
What are you going to do now? Market is certainly strong, almost unbelievably. Feels good does it to walk around slapping yourself on the back for your brilliance. Thank the FED.
But what to do next? Will this rise continue next week, or will we be down 3...4...5% a week from now. Most of us could go to 100% cash and put a pretty good year in the books. Be careful. This has been a little too easy. Easy come, easy go?
Everyone have a good weekend, but think about the gains you have this year and if you'd be willing to give a bunch of them back to Mr. Market.
Just some food for thought.
Still holding the AMRN, closed down 1 cent from my purchase price.
Lost about .5 of 1% this week trying to play the short side w/ SPXU and TZA.
Have a good weekend all.