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Old 09-12-2018, 12:43 PM   #3761
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Personally I am done at 1000 shares. My ave is about 25.72. Ken I like staying above 6% YTM myself but I guess its psychological too for me.
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Old 09-12-2018, 04:02 PM   #3762
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Guess I will give an update on my flipping...


Aug is shaping up to be a bad month... had one loss and my last trade is looking like a loss also... results will be anywhere between a small loss to a small gain..


Sept is going slow... only one purchase so far as there was not much to buy in the beg of the month... and still holding to my last Aug trade hoping to get a few dollars of profit.. will need to decide if I take a loss an flip into another or hold and hope..


So far for the year the annualized return is 27.5%.... but weighted avg is 38%.... there are times the money is not invested in pref, but I am not counting the income I get off that money....


So, start with $24K... earned just over $4600 YTD... but did not do much flipping until Apr... 3 flips the first 2 months but 21 since Apr with two holdings...
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Preferred Stock Investing-The Good , The Bad and The In Between
Old 09-12-2018, 08:02 PM   #3763
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Preferred Stock Investing-The Good , The Bad and The In Between

Your just taking a much deserved break! It tends to ebb and flow for me. I suspect when I add things up end of this 3rd quarter I am up 10% this year. I have everything but the kitchen sink thrown in preferreds though. I have had several issues that I have flipped several times in short over. Heck one issue I sold and rebought 30 minutes later earlier this week at 37 cents lower, then today sold them alI 45 cents higher again! Just rotate in and out of the select group I watch based on their price wobbling. I have about everything front loaded to bag a divi at end of the month through first week of Oct. once they go ex I will look for price drops in other rotation issues that will crank out a divi a month from then.
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Old 09-18-2018, 05:15 PM   #3764
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Saw this and thought y'all here may have an interest. JPM preferred with 5.75% yield .

https://seekingalpha.com/article/420...ercent-forever
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Old 09-18-2018, 06:43 PM   #3765
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Bob, I bought a few hundred shares of JPMLL at $25.00. A strong company and giving me a steady & reliable income stream of 5.7%.
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Old 09-18-2018, 07:20 PM   #3766
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Bob, I bought a few hundred shares of JPMLL at $25.00. A strong company and giving me a steady & reliable income stream of 5.7%.
I'm big believer in JPM, worked there my entire career when you figure in all the various mergers and acquisitions. I'm big in JPM common and have done well. Hate to put more eggs into that basket, but having had the ability to look from inside there's nothing that currently gives me concern on % of my net worth in JPM.

Longer term my concern is who will succeed Dimon. Those who were thought to be the heir apparent have moved on, and quiet frankly the names on the current short list don't give me a lot of confidence. I've worked under a couple of them.

I don't feel the preferred div would ever be at risk, but common price may take a hit depending on who is successor. For first time I'm thinking about how to unwind some of my JPM holdings in next 3-5 years to reduce exposure should I think wrong person gets the big chair. Moving to the preferred has been on my radar, this issue caught my eye.
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Old 09-18-2018, 07:57 PM   #3767
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I used to own JPM-H but it was one of the preferred's I purged back in December at over $27 and change. I bought it just below $24 back in August 2015. I think the new issue is overpriced. I would be a buyer of JPM-H below par. Jamie Dimon made me a lot of money in the early 2000 with Bank One. He is a great CEO and JPM is a solid bank. What I don't understand is why the called a 5.25% preferred not to long ago and issued one at a higher coupon.
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Old Yesterday, 12:25 PM   #3768
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GLP-A trading at $25.40 today, down from over $26 in past month. Rise in Treasuries shouldn't be moving this one by that much. I took another bite.
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Old Yesterday, 12:35 PM   #3769
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GLP-A trading at $25.40 today, down from over $26 in past month. Rise in Treasuries shouldn't be moving this one by that much. I took another bite.
I had an too oversized position when I bought 24.80 sold all but 400 at 26 a little while back.And rolled big back into NSS around 25.70...Will just sit and hold the rest of my GLP-A. The trend is still good for GLP, we just need to monitor. I flipped my GLIBP for 71 cents holding a couple weeks. I went back in with ASRVP at 28.08 and .10...I just make too much money flipping these...I love the 52 cent interest payment going ex end of month and paying the very next day.
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Old Yesterday, 01:02 PM   #3770
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I had an too oversized position when I bought 24.80 sold all but 400 at 26 a little while back.And rolled big back into NSS around 25.70...Will just sit and hold the rest of my GLP-A. The trend is still good for GLP, we just need to monitor. I flipped my GLIBP for 71 cents holding a couple weeks. I went back in with ASRVP at 28.08 and .10...I just make too much money flipping these...I love the 52 cent interest payment going ex end of month and paying the very next day.
You should get a job a McD's for as much as you flip lately Yeah, not seeing anything negative on GLP, so much just be people like you taking the money from spike on the issue and saying thanks.
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Old Yesterday, 01:08 PM   #3771
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You should get a job a McD's for as much as you flip lately Yeah, not seeing anything negative on GLP, so much just be people like you taking the money from spike on the issue and saying thanks.
Bob, Im a small potato McD flipper. Holding a 1000 shares of a company with B2 debt is just too much risk for me. 400 I own is still plenty of action for me, lol... Yes I was hoping for quick run out of the gate so it worked..Actually kind of surprised it has dipped considering its generous yield and stable finances. I still like it just need to stay proportional.
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Old Yesterday, 01:10 PM   #3772
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Bob, Im a small potato McD flipper. Holding a 1000 shares of a company with B2 debt is just too much risk for me. 400 I own is still plenty of action for me, lol... Yes I was hoping for quick run out of the gate so it worked..Actually kind of surprised it has dipped considering its generous yield and stable finances. I still like it just need to stay proportional.
Yup, spreading the wealth is a good way to keep out of trouble.
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Old Yesterday, 01:16 PM   #3773
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Today has not been a good day for my portfolio - almost all red on my screen. Tough day, for sure, for income issues.



Someone got the spooks, and dumped IPWLK down to $100.51 on 200 shares.


I quickly put in a bid at $100.52, but now it has gone back up to $103.90.
Maybe another frightened seller will emerge later.
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Old Yesterday, 01:26 PM   #3774
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I bought the IPWLK at $103.90. Actually just taking the opportunity to move from one account to another.
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Old Yesterday, 02:04 PM   #3775
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I bought the IPWLK at $103.90. Actually just taking the opportunity to move from one account to another.



I am thinking this interest rate scare will dissipate with next week's rate hike - but who knows what the Feds will say at that time?


Income is my objective, and though painful to see NAV decline, it does not impact the income stream. Easy to say, but hard to remain detached when seeing so much red on the screen.
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Old Yesterday, 02:13 PM   #3776
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I am thinking this interest rate scare will dissipate with next week's rate hike - but who knows what the Feds will say at that time?


Income is my objective, and though painful to see NAV decline, it does not impact the income stream. Easy to say, but hard to remain detached when seeing so much red on the screen.
With a 1/2 percent increase by the Fed by December the expected amount, and the economy doing so well, interest rates are moving towards new recovery highs. My fear is these 6 percent preferred will become 6.5% preferred moving toward 7 % preferred and a 8-16 percent decline could hit in the next 6 months in the share price of these, not enough return for me to offset the risk I see right now.

The differential between competing rates is rapidly closing in on many of these preferreds, which have held up pretty well to date.
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Old Yesterday, 02:29 PM   #3777
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With a 1/2 percent increase by the Fed by December the expected amount, and the economy doing so well, interest rates are moving towards new recovery highs. My fear is these 6 percent preferred will become 6.5% preferred moving toward 7 % preferred and a 8-16 percent decline could hit in the next 6 months in the share price of these, not enough return for me to offset the risk I see right now.

The differential between competing rates is rapidly closing in on many of these preferreds, which have held up pretty well to date.


I suspect we are closer to some rate scare trading than in quite a while. But that drum beat has been said for several years and things have been great for income flipping. Being up 10% this year, I am fine giving up a bit. But I have maneuvered some. These issues I own , ASRVP, JBK, CNIGO, CNIGP, HE-U all have term dates from 2023 to 2034. These have and will trade a bit stiffer than true perpetuals. Plus for the trust debt, I am just fine holding plus 6% safer debt until maturity. NSS is a floater...GLP-A movement will be more company health related than small increases of treasury yield. AILLL will not see par...Just wont happen unless we chase 4%. AGO-B actually will hold fairly strong just because call risk will be minimized...AGO-F is a sister issue still above par at a 5.57% yield...AGO-B is free 100 basis point ride...
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Old Yesterday, 02:39 PM   #3778
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Quote:
Originally Posted by Coolius View Post
Today has not been a good day for my portfolio - almost all red on my screen. Tough day, for sure, for income issues.



Someone got the spooks, and dumped IPWLK down to $100.51 on 200 shares.


I quickly put in a bid at $100.52, but now it has gone back up to $103.90.
Maybe another frightened seller will emerge later.


Coolius, there you go again...Bad day huh? Must have lost what 5-10 cents in total on your income issues? ....Im actually up big today thanks to my massive oversized position of AILLL, and somebody bought some over $27 today. I dont really even count those gains, but our plus 40 cent divi is coming soon anyways from it.
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Old Yesterday, 03:14 PM   #3779
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Coolius, there you go again...Bad day huh? Must have lost what 5-10 cents in total on your income issues? ....Im actually up big today thanks to my massive oversized position of AILLL, and somebody bought some over $27 today. I dont really even count those gains, but our plus 40 cent divi is coming soon anyways from it.



Well, Mulligan, WFC-L went down by $16 a share today. That is not small potatoes.
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Old Yesterday, 03:15 PM   #3780
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I suspect we are closer to some rate scare trading than in quite a while. But that drum beat has been said for several years and things have been great for income flipping. Being up 10% this year, I am fine giving up a bit. But I have maneuvered some. These issues I own , ASRVP, JBK, CNIGO, CNIGP, HE-U all have term dates from 2023 to 2034. These have and will trade a bit stiffer than true perpetuals. Plus for the trust debt, I am just fine holding plus 6% safer debt until maturity. NSS is a floater...GLP-A movement will be more company health related than small increases of treasury yield. AILLL will not see par...Just wont happen unless we chase 4%. AGO-B actually will hold fairly strong just because call risk will be minimized...AGO-F is a sister issue still above par at a 5.57% yield...AGO-B is free 100 basis point ride...
I would think perhaps rates going up in the manner they have actually help anyone who flips as the volatility and fear create more short term favorable trading spreads in the smaller issue market.
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