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The Blackstone Group L.P. Message Board

mjaymich61 17 posts  |  Last Activity: Apr 16, 2015 6:54 PM Member since: Sep 21, 2012
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  • Reply to

    Cost should jettison its TV business

    by rubiofromitaly Apr 10, 2015 11:24 AM
    mjaymich61 mjaymich61 Apr 16, 2015 6:54 PM Flag

    I suggest you talk to someone with info about Costco sales... their TV and electronics is the biggest money maker in the store -at least here isn California

  • mjaymich61 by mjaymich61 Apr 16, 2015 6:44 PM Flag

    Have to give these guys credit for keeping their name in front of the public. Not only are they mentioned in the BX news releases (not- unexpected) put I am receiving multiple e-mails about their con calls,the GE divestiture, each SEC filing, *8Ks, 10Ks, etc etc... Not complaining but these dudes know how to make-hay-while-the-sun shines. Sort of makes a unique splash for a mortgage-reit. Enjoying it while the fun lasts!

  • Reply to

    Fiorina vs. Ms Clinton

    by sdmiller4747 Apr 12, 2015 12:39 PM
    mjaymich61 mjaymich61 Apr 12, 2015 2:01 PM Flag

    Hillary an "elitist"? She is really a one-dimensional self-aggrandizing person who believes she has all the answers, just ask her. And by the way, she will not provide answers to anyone that asks the questions. Her history is an public , information as to what and why remains unknown! She is better at "stonewalling" than Putin.

  • Reply to

    Anybody own this stock besides me?

    by tshotglass Apr 10, 2015 3:24 PM
    mjaymich61 mjaymich61 Apr 10, 2015 5:31 PM Flag

    Quiet... the last thing this stock needs is a bunch of yahoo-giddieup idiots here. Their business strategy was clearly announced when they bought Capital Trust (CT), did a reverse sprit, renamed it to BXMAT, and sold mucho shares to the public... paying 7.5-8% all along. Keep quiet and lets not look for crowd-trading.....

  • mjaymich61 mjaymich61 Apr 8, 2015 1:33 PM Flag

    Check the records, the area of California has been experiencing cyclic droughts for years, centuries, thousands of years... even before millions of people moved to the basic desert areas... so lets not blame Mother Nature for just doing her thing!

  • mjaymich61 mjaymich61 Apr 8, 2015 12:17 PM Flag

    Careful with your use of the word "profit"... STAR has a large (actually hugh) tax-loss carry forward on the books but their on-going numbers are ok... meanwhile they have cash-flow form triple-net leases, are still trying to collect millions in a lawsuit award from Lennar, and ha some humongous value in developable land holdings. Like others, I have been enjoying collecting "return-of-capital" dividends on their preferred stocks for years and awaiting for the Lennar mess to get paid (even they cut a deal for the money) and some JV with their land. Have limited my exposure to the common although the shares do seem to be bubbling up a little.

  • Reply to

    Secondary price

    by cvdpro Apr 7, 2015 4:52 PM
    mjaymich61 mjaymich61 Apr 7, 2015 6:32 PM Flag

    Crazy... new offering announced after hours Monday and today Tuesday I tried to register to buy some on the secondary from Fidelity and at 1 pm Fidelity said the game was closed... would not accept my request to purchase....

  • Anybody notice how PCI is moving up a few cents here and there. And just as its annual meeting time with Ironside playing its crazy game. Me thinks Pimco PCI management is finally realizing their track record is not anything to brag about ! and perhaps, just perhaps, is throwing a little meat-to-the-hungry -dogs.

  • mjaymich61 mjaymich61 Mar 31, 2015 3:36 PM Flag

    Last time I checked I cannot see my PCI shares at net-asset-value.... perhaps you would like to purchase mine at nav ?

  • mjaymich61 mjaymich61 Mar 31, 2015 2:38 PM Flag

    Long-term is too long for these guys. I am not an activist investor but PCI went public and in Jan 2013 was trading around $25... one year later Jan 2014 $22.5... ok they took 8% for new issue CEF and paid dividends... byJan 2015 they are at $20.5 ... and now March 30th, at $2045..... apparent to me they are not providing much to the shareholders given their leverage (north of 40%)... my internal rate of return from mid-2013 is about 0.10% (one tenth of one percent)... CDs are doing better than that with no risk... these guys need a good swift kick in the pants... been living off the Pimco bravado too long...

  • Reply to

    Starwood vs. Realty Income

    by formul8orx Mar 26, 2015 2:14 PM
    mjaymich61 mjaymich61 Mar 29, 2015 10:28 PM Flag

    Answer: Very different business models and long-term records. STWD is a straight "loan" company, read their annual report, lots of big, giant loans of many different risk profiles and is a relative new-comer... and Mr Market still remembers what happened to people loaning money in 2008. O has been around for at least twenty or thirty years and actually owns the physical properties (yes, the buildings) leasing them out to hundreds and now thousands of businesses, most of them not $100-million risks. O dividend has become de-facto the "gold standard" model for triple-net lease REITs. Sort of the difference between eating New Orleans style cooking or Texas steak-and-potatoes. In my mind, they are both great companies to hold at this time! Enjoy.

  • mjaymich61 by mjaymich61 Mar 10, 2015 4:28 PM Flag

    Mr. Market must be having fun with us.... Dow down 300 points and STAR up 2%... meanwhile the preferred shares are holding their prices after dividend date..... anybody? anything?

  • Reply to

    10K filing:

    by doddleon Mar 2, 2015 5:55 PM
    mjaymich61 mjaymich61 Mar 6, 2015 4:07 PM Flag

    Nice postings Easy... what some of our posters do not appreciate is that STAR is sitting on mucho land which if/when they sell or JV is worth real money... and as for the dividend, just everyone relax, since a "real" dividend is some time away, if you want cash just purchase any of the preferred issues and get 7.7-8.0% as return of capital (taxable at capital gains rates when you seek) while REIT ordinary dividends are never "qualified" ... and then there is the alternative scenario, somebody might just buy the company for its tax-loss forwards and redeem the preferreds... stranger things have happened (just look at what happened to Capital Trust CT - Blackrock bought the whole dammed thing -and it was surely dammed and a mess- renamed it t BXMT, sold a a hugh number of shares in public offering, it its good as gold!

  • mjaymich61 mjaymich61 Feb 28, 2015 11:40 AM Flag

    Check with the accounts but I think (?) REIT dividends are never "qualified".

  • mjaymich61 mjaymich61 Feb 26, 2015 1:09 AM Flag

    the money iSTAR paid to you are real dividends... its all an accounting game played with the IRS... and since STAR still has mucho capital loss carryforward despite todays announced earnings the game will continue for a while...

  • mjaymich61 mjaymich61 Feb 25, 2015 6:26 PM Flag

    You were paid your "dividend" in cash, four times last year... for income tax purposes they were defined to be "return of capital" meaning the company did not really have the profit base to pay the dividend so as per IRS rules, the amount returned as capital each year is deducted from your cost base... example, say you paid $20 for a share of Star-pfd D (8%) and received four dividends of 50 cents during 2014.... then as per your broker and the IRS you cost basis is reduced from $20 by the 4x 50 cents, new cost basis is $18... your brokerage statement IRS form 1099 under dividends section will show it as a "return of capital" ... you don't pay taxes on the $2 until you sell the stock (note if you cost basis is reduced down to zero or less, game rules change).... if you go to the iStar webs site you will find their SEC/IRS filing form #8937. Lots of companies have this form of "dividend"....

  • Reply to

    Judgement in favor of iStar

    by windsurf32937 Jan 22, 2015 1:59 PM
    mjaymich61 mjaymich61 Jan 22, 2015 5:15 PM Flag

    Now all they have to do is collect... and they have been trying for several years now....

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