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AllianzGI Convertible & Income Message Board

retiredafe8 24 posts  |  Last Activity: Nov 9, 2014 8:25 PM Member since: Dec 9, 2009
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  • retiredafe8 retiredafe8 Nov 9, 2014 8:25 PM Flag

    jad...I started with NCV in 2007 and with NCZ in 2010. Those 2 CEFs are my best investments. If you will check other CEFs you would find out that using leverage is very common. I own 19 CEFs and most of them use leverage. I have never suffered a disaster because of that practice. I have been in the market since 1988. It's the only game in town as for as I am concerned. If you are concerned only with safety, go with CDs. There is the real ripoff. Good luck to you anyway..

  • Reply to

    Things are cooling off

    by retiredafe8 Oct 19, 2014 12:31 PM
    retiredafe8 retiredafe8 Nov 2, 2014 8:57 PM Flag

    rb...I got involved with 2 stocks in the oil drilling business in 1978. They were Petro Lewis and Damson Oil and were LP investments. They did OK for about 2 years. I sold both of them in 1980 and made capital gains. Then they both declared bankruptcy about the same time that the price of oil dropped to 10,00 per barrel.. Pretty much all oil exploration and drilling came to a screeching halt. No one could make a profit with oil at 10 per barrel. At that time I was working for equipment rental company. A lot of our customers were oil drilling companies. The repercussions tore into our bottom line with several companies folding and leaving town. My wife and I sold our house soon after and headed for Atlanta where I knew work was a plenty in the equipment rental business Stayed there and retired from Prime Eq Rental in 1996. Prime is now part of United Rental. I don't think I will be buying any oil related stock any time soon. That can be volatile at times. My opinion for what it's worth. Good luck to you.

  • Reply to

    Why no comments?

    by retiredafe8 Oct 28, 2014 2:44 PM
    retiredafe8 retiredafe8 Oct 30, 2014 10:49 AM Flag

    jch...Appreciate the reply. We share some of the same holdings, namely, FFC and GOF. I will be looking at the others you listed as owning. NCV and NCZ may not pay year end special dividends, but they paid something just as good. I'm referring to the qualified dividends they both paid. In my case NCV paid out 1,900.03 and NCZ paid 1,327.04.I,ll settle for that any day, being it is tax free. I do my own taxes and love not having to pay Uncle Sam taxes on over 3,000.. Good luck to you.

  • Reply to

    PCI Stuck in the MUD????

    by mgerner214 Oct 28, 2014 11:51 AM
    retiredafe8 retiredafe8 Oct 29, 2014 11:01 AM Flag

    Just bare in mind that an investor can't use a loss on a tax free account to offset capital gains. I wish that were possible with my IRA. Uncle Sam says no. Good luck to you all.

  • Reply to

    Why no comments?

    by retiredafe8 Oct 28, 2014 2:44 PM
    retiredafe8 retiredafe8 Oct 28, 2014 8:53 PM Flag

    stone...Appreciate the response .Am really glad to hear not everyone bought in to all that hype going out on the airways. For anyone thinking of buying or debating whether to hang onto shares of NCV or NCZ, , all they need to do is look at all the entities that make up these 2 CEFs Every thing in there is investment grade or have a history of paying dividends over many years .When I first entered the market in 1988, I thought I would play it safe and bought either gov't agency bonds or corp bonds of individual corp. That blew up in my face in 2000 when the tech bubble burst, dragging down many other non tech companies. I found myself holding bonds of companies like General Motors,, Ga. Pacific and several others that went from investment grade to junk bond status. I cut my losses and went into CEFs for the first time. I also fired my full line broker and began doing my own investing. Now my divvys come from 19 CEFs and few other open ended funds worth hanging on to. I also do my own taxes, spending about 2 hours a day trying to stay ahead of the game. Some way to make a living, ain't it. Good luck to you.

  • Reply to

    25% upside to year end

    by jserper Oct 24, 2014 4:52 PM
    retiredafe8 retiredafe8 Oct 28, 2014 3:15 PM Flag

    With so many different amounts of dividends paid every month, I think it would take a miracle if they would pay a year end bonus. My opinion for what it is worth.

  • retiredafe8 by retiredafe8 Oct 28, 2014 2:44 PM Flag

    I am beginning to think I may be the only one still with holdings of NCZ and NCV. I did not panic and sell after Mr Bill moved from PIMCO to his new diggings. I know a lot of people did sell and probably many at a loss. I never considered him irreplaceable. The market does not work that way. Thank God for that. I presently hold 6324 shares of NCV and 6673 shares of NCZ.. Why would I sell when I make 1,136.36 each and every month. I have owned NCV since 2007 and NCZ since 2010. I have no intention of selling, no matter where Mr Bill is working now.

  • retiredafe8 retiredafe8 Oct 22, 2014 11:33 AM Flag

    Dan...Can't help but liking PCI. At 22.42 per share and divvy of 0.156, that comes out to 8.35%. At that price per share, it also comes out to almost $2.00 per share discount.. Hard to beat that any way you look at it.

  • Reply to

    Things are cooling off

    by retiredafe8 Oct 19, 2014 12:31 PM
    retiredafe8 retiredafe8 Oct 20, 2014 3:51 PM Flag

    Malibu...I appreciate your response. All the CEFs I own, I bought them for income primarily. I don't do DRIP. I have divvys deposited in my checking account and then I decide what to buy next. I try to hold any buy I make to within 5 to 10 % of the worth of my brokerage acct. By chance if any holding does increase in value I won't hesitate selling and taking capital gain. I sold PFL the day before Mr Bill resigned from PIMCO. That CEF took a dive and then I re-acquired it some days later.. Trying to stay ahead of this can be challenging. From what I've read of your comments, you seem to be doing OK. I don't gamble in casinos, but, I'm not afraid of trying to make a buck in the market. Have been at it since 1988. Good luck to you.

  • retiredafe8 by retiredafe8 Oct 19, 2014 12:31 PM Flag

    I'm wondering how many investors decided not to sell and did the right thing by letting the market settling down. Mr Bill doesn't own the market, despite what some people thought when this correction started. The problem for those who panicked and sold and probably took losses is when do you reenter the market? Some good buying opportunities have already gone by..

  • retiredafe8 retiredafe8 Oct 15, 2014 2:50 PM Flag

    Any rumors of people jumping out of windows? If one did not sell at the beginning of this correction,,it is too late now. You would stand a much better chance of coming out just riding this thing out. The holdings that make up this CEF are all good entities and will go back up. I owned NCV from 2007 and held it through 08 and 09 , during the worst of the recession, and still have it in my account with Merrill Edge. I've been in the market since 1988 when I started with Citizens and Southern Investment Services in Atlanta, Now known as Bank of America. Haven't lost any sleep yet over this latest drop. I wonder if praying might help..

  • Reply to

    Well, I've finished accumulating my position

    by hillsdale89 Oct 10, 2014 4:08 PM
    retiredafe8 retiredafe8 Oct 10, 2014 5:23 PM Flag

    stone...We share the same feelings for NCZ. I bought in @ 8.61 on 30 August 2010 and added more @9.68,,8.94, and 9.87.Have no intention to sell. I also own NCV, entered on 17 Sept 2007., deciding to ride out the fiasco of 2oo8 and 2009. It did not take long for NCV to start going back up. Entered the market in 1988 and have seen these ups and downs several times.. Don.t buy something that will keep you awake at night and you will be OK. Good luck to you.

  • retiredafe8 retiredafe8 Oct 10, 2014 5:05 PM Flag

    boro...Sleep well tonight. I have my brokerage account with Merrill Edge. I got my statement today and it shows NCV and NCZ both paid the divvy on 2 Oct. Those 2 are among my largest holdings. I have never lost any sleep over those 2 investments. Good luck to you and go have a cool one.

  • Reply to

    Christmas came early

    by bohicaproperties Oct 8, 2014 5:24 PM
    retiredafe8 retiredafe8 Oct 8, 2014 9:49 PM Flag

    boh...Don't forget qualified dividend. For year 2013, on my CEF holdings, I received 10,480.11. Qualified divvys are just as good as year end bonuses and an investor does not owe taxes on qual div. I do my own taxes and do not pass up any opp to not pay taxes I received qual div on FLC, PFL, PFD, PFO, PFN, AOD, NCZ and NCV. Still have all those CEFs, except AOD. Sold that loser, but can use losses to offset capital gains. Always plotting how to make a buck. What a way to live. Good luck to you.

  • Reply to

    NAV has been declining rapidly

    by jchambers1 Sep 27, 2014 9:55 AM
    retiredafe8 retiredafe8 Oct 7, 2014 10:40 AM Flag

    poo...You are right about it being me who mentioned buying GOF. Am still glad I bought that CEF.As for Fla. I left there after living in Tampa, then St Pete, and lastly Satellite Beach All total 17 years. My Son and Daughter found themselves unemployed with no hope. We all sold our homes and resettled in south La. I bought a house with an in-law suite in the back I got the house and they live in the back. Having no mortgage payments makes their day. They both have good jobs. Visiting Fla. around Thanksgiving would be the best time to go there. Good luck to you and your Daughter.

  • Reply to

    NAV has been declining rapidly

    by jchambers1 Sep 27, 2014 9:55 AM
    retiredafe8 retiredafe8 Oct 5, 2014 6:03 PM Flag

    ana...Sorry about the Dude reference. You are right about the widower. Happened 2 years ago this past 20 Sept. Am still trying to get over it. Came completely out of the blue. Just goes to show how fragile life is and how quickly it can be taken away. I hope what I said about NCV & NCZ was helpful to you. Good luck with whatever you decide to do.

    Sentiment: Strong Buy

  • Reply to

    Pull that dry powder out...............

    by hillsdale89 Sep 30, 2014 10:05 AM
    retiredafe8 retiredafe8 Oct 1, 2014 7:25 PM Flag

    poo. I would be buying if I did not already have 72905.00 tied up in this CEF. I also own NCZ and have 62200.00 tied up here. The dynamics of those 2 funds have not changed. I acquired NCV in Sept 07 and NCZ in Aug10. I would not hesitate buying or recommending these 2 funds.. Good luck to you. I just blew all my loose change 1 week ago and bought 2860 shares of GOF. Did a lot of research and could not pass up that CEF.

  • Reply to

    NAV has been declining rapidly

    by jchambers1 Sep 27, 2014 9:55 AM
    retiredafe8 retiredafe8 Oct 1, 2014 7:10 PM Flag

    poo...What's happening Dude? I've been tied up doing landscaping. The projects never end here.

  • Reply to

    NAV Around $14.50

    by schieboutz Sep 30, 2014 10:20 AM
    retiredafe8 retiredafe8 Sep 30, 2014 5:09 PM Flag

    schie... The NAV for PGP is 14.04 as of 1600 30 Sept. To find the NAV for PGP, type in xpgpx. The last time I owned PGP, I sold it to take capital when it was at 19.50. Have never owned it since. The premium was just too high. Good luck to you.

  • Reply to

    So the idot shareholders are cutting own throats.

    by echostar642 Sep 29, 2014 12:03 PM
    retiredafe8 retiredafe8 Sep 29, 2014 11:25 PM Flag

    Bill...Unless I am mistaken, CEF s do not buy back shares being sold by investors. To sell shares of any CEF, the investor selling those shares must sell on the secondary market. Closed end funds do not operate like open ended funds. I own 20 CEFs and have run into that problem before. To buy shares of a CEF after all initial shares have been sold, an investor must look for shares that are up for sale by another investor on the secondary market. Have been watching the bond market like many others. I own PIMCO PFN, PCN, PMF, PML, PMX and sold PFL on the day before Mr Bill resigned. Sold PFL to take capital gain, managed to make 3500 before dropping more. I knew something was going on, just did not know what. I do not gamble in casinos, but do so in the stock market everyday. What a way to make a buck. Good luck to you.

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