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02-15-2018, 08:57 AM
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#3121
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Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,691
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Quote:
Originally Posted by Freedom56
However, the entire retail commercial leasing space will be under pressure for the next few years as more and more stores shut down.
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That's my take as well. They may fill vacated space but will be at much lower $/sq ft basis. Raising rate environment doesn't bode well for the REIT's and I'm very cautious to get into fixed rate instrument tied to REIT.
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02-15-2018, 09:07 AM
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#3122
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Location: SoCal, Lausanne
Posts: 4,408
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There are many Ally notes with maturities from 2018 through 2021 that can yield 3.8% to 4.5%. I have multiple bids in at Fidelity just below par. The issues are all fairly small. These are better than CD rates.
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02-15-2018, 10:52 AM
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#3123
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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 Freedom56
There are many Ally notes with maturities from 2018 through 2021 that can yield 3.8% to 4.5%. I have multiple bids in at Fidelity just below par. The issues are all fairly small. These are better than CD rates.
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Im greedy so I am in pretty good on ALLY-A the trust debt. But I dont have the nerve for any CBL issues.
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02-15-2018, 11:26 AM
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#3124
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Location: SoCal, Lausanne
Posts: 4,408
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Quote:
Originally Posted by Mulligan
Im greedy so I am in pretty good on ALLY-A the trust debt. But I dont have the nerve for any CBL issues.
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I'm not buying any CBL either. I'm looking for a place for all the cash from the sale of preferred shares in December. I was waitng for those high grade preferred shares to fall below par, but the have not yet. Plus I just got more cash from a GE 10 year note that just matured today. I just started moving money from my brokerage account to my Amex account that pays 1.45% versus .0001%.
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02-15-2018, 11:41 AM
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#3125
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Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,691
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Quote:
Originally Posted by Freedom56
I just started moving money from my brokerage account to my Amex account that pays 1.45% versus .0001%.
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FYI - Ally is paying same rate. Crazy they are paying more on savings vs. 3 month CD's.
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02-15-2018, 11:45 AM
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#3126
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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 Freedom56
I'm not buying any CBL either. I'm looking for a place for all the cash from the sale of preferred shares in December. I was waitng for those high grade preferred shares to fall below par, but the have not yet. Plus I just got more cash from a GE 10 year note that just matured today. I just started moving money from my brokerage account to my Amex account that pays 1.45% versus .0001%.
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Im taking advantage of a special rights offer to GDL-B owners. Will be able to buy at par $50, a 4% preferred that is adjustable up to 6% based on a benchmark, but is puttable at par in 2020 and again at 2020, which adjustment spring of 2019. Gabelli preferreds are probably the safest preferreds available based on what they are and the coverage ratio protections.
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02-15-2018, 12:39 PM
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#3127
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Full time employment: Posting here.
Join Date: May 2017
Posts: 797
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I've been chasing SSW-E and GSL-B all dang week and can't seem to get anyone to bite on my bids.
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02-15-2018, 12:45 PM
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#3128
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Full time employment: Posting here.
Join Date: May 2017
Posts: 797
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Quote:
Originally Posted by jimnjana
Added some more CBL-D. Under 18. Largest position is still SPLPA.
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SPLP-A with a 1% pop today on higher than normal volume. Any news?
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02-15-2018, 03:34 PM
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#3129
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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 brokrken
SPLP-A with a 1% pop today on higher than normal volume. Any news?
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Only that mine got taken out with the bump up...
Hope it goes back down so I can fill it back up...
BTW, when is the ex divi date? I cannot find it...
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02-15-2018, 06:34 PM
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#3130
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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 Texas Proud
Only that mine got taken out with the bump up...
Hope it goes back down so I can fill it back up...
BTW, when is the ex divi date? I cannot find it...
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At the end of this month. They declare it late, so probably anytime now.
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02-15-2018, 09:46 PM
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#3131
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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
At the end of this month. They declare it late, so probably anytime now.
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Thanks... will try and get back in... I was selling to try and get my Vanguard account fixed... if this does not do it I will be moving the brokerage from them...
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03-01-2018, 02:21 PM
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#3132
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Thinks s/he gets paid by the post
Join Date: Sep 2014
Location: The Great Wide Open
Posts: 3,789
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Amtrust, up pre-open, private offer raised to $13.50. Preferred A closed down 48.5 cents.
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03-01-2018, 02:53 PM
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#3133
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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 Winemaker
Amtrust, up pre-open, private offer raised to $13.50. Preferred A closed down 48.5 cents.
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Ya, the market still views that going private offer as a way to screw the preferred owners. I sold for a small few hundred buck profit and wont return. Just isnt in my comfort zone.
I had sold off all my AILLL at 27.15 a couple months ago, and just completed my last purchase back to 1000 shares today at $26.40. Bought all back between 26.30-40. I suspect it could go down more though in a month it kicks out next divi...I dont care, it was my original purchase many years ago, and want it as a core position. My adjustable and term dated issues keep going strong...Its been a good first few months of the year for me in income...
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03-01-2018, 03:26 PM
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#3134
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Location: SoCal, Lausanne
Posts: 4,408
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Quote:
Originally Posted by Winemaker
Amtrust, up pre-open, private offer raised to $13.50. Preferred A closed down 48.5 cents.
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I would stay away from Amtrust and associated partners in crime - Maiden Holdings and National General Holdings. After the accounting fraud and their actions afterwards, I just don't trust these companies. They delayed their earnings release, so I guess they need more time to cook their books again.
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03-01-2018, 04:06 PM
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#3135
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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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Freedom, they are crossed off my list, too. I did do a quick dumpster quick trade on a couple AFSI preferrds and made a few bucks. If i had bought 2 days earlier I would have made a nicer haul. I just dont have any trust here to buy and hold.
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03-01-2018, 04:50 PM
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#3136
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Full time employment: Posting here.
Join Date: May 2010
Posts: 862
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This taking the company to private opens the door to Waldenization.
For those who have not encountered this word before, it's worth researching it. You will be a far more informed Preferred stock investor as a result.
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03-01-2018, 04:56 PM
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#3137
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
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Quote:
Originally Posted by Coolius
This taking the company to private opens the door to Waldenization.
For those who have not encountered this word before, it's worth researching it. You will be a far more informed Preferred stock investor as a result.
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Sounds like an adventure for those who got Waldenized (from a def):
Quote:
Apparently, some of the folks who hold preferreds are not aware of a risk termed Waldenization, so-named because Walden REIT was the first REIT to exhibit the risk. In that case, in 2007, the new owners acquired only the common, took the new company private and left the debt and preferreds with the old company, which had no assets. The preferred holders sued and won, but there were no assets to pay the damages.
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__________________
*********Go Astros!*********
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03-01-2018, 05:09 PM
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#3138
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Location: SoCal, Lausanne
Posts: 4,408
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A very good chance of that (Waldenization) happening with Amtrust. I think there will be another shoe to drop before this saga is over. I expect Barron's to be writing something on this soon. There is something going on. They delayed their earnings release. A.M. Best is still reviewing Amtrust with "negative implications". One of their partners in crime Maiden Holdings reported another huge loss yesterday. They are still under investigation by the SEC.
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03-01-2018, 06:38 PM
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#3139
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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
This taking the company to private opens the door to Waldenization.
For those who have not encountered this word before, it's worth researching it. You will be a far more informed Preferred stock investor as a result.
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Coolius, you should be excited I am back home with you on AILLL.
I have been interest rate sensitive in my recent trades as most have been protection with little downside risk, so I havent given up anything in getting better recent results....However, I dont think rates are gonna punk out like people think for a while. I mean over 3.5% or anything like that...This means if you buy high quality QDI over 6% I doubt much degradation going forward will occur this year. Many have already sagged. In fact I bought a little bit of a rare 4.4% perpetual today. But last year I bought it 15% higher and sold it almost 30% higher on a spike. Its so rare, high quality, and illiquid so it keeps a relative strong floor under it in terms of its chronic lower yield.
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03-01-2018, 09:41 PM
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#3140
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Full time employment: Posting here.
Join Date: May 2010
Posts: 862
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Mulligan,
I am sure that your sock drawer gave a hearty Welcome Home to the prodigal AILLL sons.
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