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06-26-2017, 10:32 PM
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#2061
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,008
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I was sleeping and so got called on 2 preferreds.
Maiden Holdings and AES-C , fortunately I didn't buy them too much over the call price so no damage once you count in the div's paid for this year. (yes fake math)
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06-26-2017, 10:58 PM
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#2062
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Full time employment: Posting here.
Join Date: May 2010
Posts: 862
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I wasn't sleeping, but got called on PSA-PS.
Happily, someone bought my entire position this morning at $25.16.
Calculated the redemption value was par+$0.119 = $25.119. So I put in a sell order for $25.16 and it filled.
It was a good ride for close to a year, sad to see it go, but it was inevitable.
I still own PSA-T, and that will be the next domino to fall, most likely within a year from now - hope it isn't earlier.
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06-27-2017, 07:00 AM
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#2063
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Quote:
Originally Posted by Sunset
I was sleeping and so got called on 2 preferreds.
Maiden Holdings and AES-C , fortunately I didn't buy them too much over the call price so no damage once you count in the div's paid for this year. (yes fake math)
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Sunset, I am fine with your "fake math". In fact that really is the only way you can. Your purchase price is your purchase price and one knows the call price. It is what is so your math is good!
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Preferred Stock Investing-The Good , The Bad and The In Between
06-27-2017, 01:45 PM
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#2064
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Preferred Stock Investing-The Good , The Bad and The In Between
Well last day I can trade for a while, so had some fun...Sold my KYN-F and bagged a big 17 cent profit or so including the monthly divi. Got back in SPLP-A. The Handy full acquisition seems to be settled with the 20% par $25 put of all shares in less than 3 years clarified for me so I am back in at $21.85. Got back in GBLIL at $25.68. It didnt realize there is some "bonus" first divi payment from excess accrual to make this divi 61.25 cents, so just about back in at par again. It goes exD tomorrow.
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06-28-2017, 12:09 PM
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#2065
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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Quote:
Originally Posted by Mulligan
. Got back in SPLP-A. The Handy full acquisition seems to be settled with the 20% par $25 put of all shares in less than 3 years clarified for me so I am back in at $21.85..
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I didn't see the PAR value for this one anywhere. What site did you use? On preferred channel says there is no par value.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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06-28-2017, 12:25 PM
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#2066
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Go to quantumonline and then hit to prospectus and there u get the finer points of the issue. Basically they r using the preferred to buy out completely 2 companies they had majority ownership in already.
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06-28-2017, 12:26 PM
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#2067
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Buying GBLiL right before market close sure was a no brainer trade for me yesterday.
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06-28-2017, 12:43 PM
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#2068
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Jim pricing on splp-a can be jumpy and under pressure at times because it wasnt issued to public. It was forced on existing shareholders of common stock splp bought out. This probably not what they wanted. A second buyout is coming again this fall. That is why i like the put and 9 yr term. It takes the pressure off being right on correct entry point.
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06-28-2017, 01:15 PM
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#2069
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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Quote:
Originally Posted by Mulligan
Jim pricing on splp-a can be jumpy and under pressure at times because it wasnt issued to public. It was forced on existing shareholders of common stock splp bought out. This probably not what they wanted. A second buyout is coming again this fall. That is why i like the put and 9 yr term. It takes the pressure off being right on correct entry point.
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thanks. looking at that today. bought some more GBLIL. I tried to buy RSO-c shares but fidelity wouldn't let me do it online.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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07-08-2017, 12:50 PM
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#2070
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Hadnt really followed market last week being out of town but noticed GBLIL recovered entirely in a weeks time after going exD. That sure was easy money.
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07-08-2017, 01:26 PM
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#2071
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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Picked up some CBL-D shares this week. Had picked up some of the SPLP-A shares, but still trying to figure it out.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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07-08-2017, 08:20 PM
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#2072
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Jim, you got something in common with my girlfriend...She likes malls too. Except she isnt interested in making money off them, she is more into spending it there, lol.
I am going to come up with some scheme here next week to run a circuit again with some cash try to bag 2 or 3 dividends off same money in a cycle like I did last month. Kind of neat catching small cap gains and multi dividends from same cash pile and not miss the divi cycle from where the money came from to begin with. Will need to figure out which ones to bag and what sequence though.
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07-09-2017, 08:17 AM
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#2073
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,518
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You are my hero Mul; Let us know your results.
Sent from my iPad using Early Retirement Forum
__________________
"Luck favors the prepared mind"
Pasteur
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07-09-2017, 08:26 AM
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#2074
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Full time employment: Posting here.
Join Date: May 2010
Posts: 862
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Mulligan,
I will await your scheme with eager expectations, and try not to hold my breath while so waiting.
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07-09-2017, 08:38 AM
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#2075
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Quote:
Originally Posted by Coolius
Mulligan,
I will await your scheme with eager expectations, and try not to hold my breath while so waiting.
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Well guys it may be easier said than done. The last 3 times I did it, it wasnt a plan, just reactionary. It appears I cant make the opportunity, I will just have to wait for it. Something has to drop, then pick it up before exD then unload unto something else that drops. If nothing sags its hard to start the process. Of course since the cash is sitting from the sale, I will need to force it unless I just hold... But that isnt my style.. We are getting close to nut cutting time of CFC-B. I may buy more and stare em down with exD inside 20 days now.
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07-09-2017, 09:09 AM
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#2076
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,581
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Did a little digging on SPLP-A today, interesting issue, but found this as part of the filings:
The IRS Schedules K-1 we will provide holders of SPLP preferred units will be more complicated than the IRS Forms 1099 provided by corporations to their stockholders, and holders of SPLP preferred units may be required to request an extension of time to file their tax returns.
Holders of SPLP preferred units will be required to take into account their allocable share of our items of gross ordinary income for our taxable year ending within or concurrently with their taxable year. We have agreed to furnish holders of SPLP preferred units, as soon as reasonably practicable after the close of each calendar year, with tax information (including IRS Schedules K-1), which describes their allocable share of gross ordinary income for our immediately preceding taxable year. However, it may require longer than 90 days after the end of our calendar year to obtain the requisite information so that IRS Schedules K-1 may be prepared by us. Consequently, holders of SPLP preferred units who are U.S. taxpayers should anticipate the need to file annually with the IRS (and certain states) a request for an extension past April 15 or the otherwise applicable due date of their income tax return for the taxable year. In addition, each holder of SPLP preferred units will be required to report for all tax purposes consistently with the information provided by us for the taxable year. Because holders will be required to report their allocable share of gross ordinary income, tax reporting for holders of the SPLP preferred units will be more complicated than for shareholders of a regular corporation.
May complicate tax filing next year.
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07-09-2017, 09:22 AM
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#2077
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,203
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Quote:
Originally Posted by Mulligan
Jim, you got something in common with my girlfriend...She likes malls too. Except she isnt interested in making money off them, she is more into spending it there, lol.
I am going to come up with some scheme here next week to run a circuit again with some cash try to bag 2 or 3 dividends off same money in a cycle like I did last month. Kind of neat catching small cap gains and multi dividends from same cash pile and not miss the divi cycle from where the money came from to begin with. Will need to figure out which ones to bag and what sequence though.
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Quote:
Originally Posted by Mulligan
Well guys it may be easier said than done. The last 3 times I did it, it wasnt a plan, just reactionary. It appears I cant make the opportunity, I will just have to wait for it. Something has to drop, then pick it up before exD then unload unto something else that drops. If nothing sags its hard to start the process. Of course since the cash is sitting from the sale, I will need to force it unless I just hold... But that isnt my style.. We are getting close to nut cutting time of CFC-B. I may buy more and stare em down with exD inside 20 days now.
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It is difficult... and the results can be mixed... but it is a fun game to play....
I mentioned that I was doing this with a slug of money... not a lot, about $15K... so far in the last 12 months I have made 15 trades... trying to buy 16 right now that goes ex in a few days...
The results are that I have a weighted avg annual return of 6.5% over that time period... however, I got caught with a big loss on my 3rd trade and it cost me... if you look at my last 12 trades I have a 17.2% AAR.....
Now, I will say that you should ONLY buy what you would want to hold... I bought some of the JCPenney stuff and it went down when all retailers went down... I have no problem holding it so I exchanged it with money from a called holding and kept going... I did NOT put the loss in my calculation, but if I did I would be close to zero gain... might be cheating, but I did have to replace the called issued anyhow...
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07-09-2017, 09:55 AM
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#2078
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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Quote:
Originally Posted by RE2Boys
Did a little digging on SPLP-A today, interesting issue, but found this as part of the filings:
May complicate tax filing next year.
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I bought it in an IRA. I only bought 100 shares, may buy more but not enough to worry about any tax consequences for the IRA.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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07-09-2017, 10:02 AM
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#2079
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Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,330
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Quote:
Originally Posted by Mulligan
Jim, you got something in common with my girlfriend...She likes malls too. ....
I am going to come up with some scheme here next week to run a circuit again with some cash try to bag 2 or 3 dividends off same money in a cycle like I did last month. ...
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Ha, Hopefully my mall shopping trip will pay off. Nothing like finding what you think is a bargain...until you find something just as nice for a lower price.... I look forward to hearing the outcome of your scheme. That is not something I will try for the time being. Training wheels are still on. I like the idea of setting and forgetting at least with some of the preferred utes and setting and monitoring with the others. I like the idea of a dividend trifecta though.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
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07-09-2017, 10:42 AM
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#2080
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
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Quote:
Originally Posted by jimnjana
I bought it in an IRA. I only bought 100 shares, may buy more but not enough to worry about any tax consequences for the IRA.
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That is what I did Jim...I got 300 shares this time. Safely under the UBTI limit. My K-1 form will go in the trash, or just thrown in the tax file folder unopened. RE is correct to study the warts on its skin though. But putting it in Roth under the limit negates the tax junk for me.
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